Portugal Rally had a €183 million impact on the economy in 2024

Portugal Rally (Rally de Portugal) generated €22.6 million of which €13.6 million came from VAT and €9 million from IPS fuel tax in 2024.

“The amount represents a direct economic impact of 24.1% from the event, showing its economic importance for Portugal”, according to a study from the University of the Algarve.

The Rally of Portugal 2024 edition generated an economic impact of €183.3 million, an increase of 11.2% compared to the previous year, according to a study by the University of the Algarve on the racing competition, while tax revenue stood at €22.6 million. “The event generated €93.6 million in direct expenditure by fans, teams and organisation in the regions of Portugal, with 36% coming from foreign visitors, of which 25% visited for the first time.

The Rally attracted about 1.2 million viewers/visitors, visitors stayed an average of 2.9 nights in accommodation, which rose to 3.2 nights in the case of foreign tourists, being above the usual amounts in the North (1.9 nights) and Centre (1.8 nights) regions.

In terms of tax revenue, the rally generated €22.6 million, “of which €13.6 million resulted from VAT and €9 million from the ISP. “This amount represents 24.1% of the direct economic impact of the event, evidencing its importance to Portugal’s economy”.