Overseas consumerism up 82.5%
Consumer transactions in Portugal registered an increase in turnover of over 30% over the summer like-for-like on 2021.
Whilst purchases using national bank and credit cards also increased, purchases from overseas tourists, particularly the French who most contributed to the performance of national business, with turnover skyrocketing over 80% accordion to data from a report from REDUNIQ which studies card transactions made in Portugal.
After a like-for-like growth of 45% in transaction turnover for both national and overseas cards in the first six months of the year, Portuguese consumer business continues to recover post pandemic, having turned over more than 32.2% between 1 July and 15 of September like-for-like on 2021.
According to REDUNIQ Insights, there was a like-for-like growth of 19.6% via national cards for the period, while consumption from overseas visitors in Portugal increased 82.5%.
The French (18%) made up the most transactions using international cards, despite its percentage falling 6 points on 2021. Behind France came the United Kingdom in terms of spending in Portugal over the summer, with 14% of the ‘pie’
This was followed by transactions from Irish cards (11%), the United States (10%), and Spain (9%).