For the first time, Banco de Portugal recorded more than half a million euros in spending by Portuguese tourists abroad in July. This increase is almost eight times greater than that of the expenses of foreign tourists in Portugal, during the same month.
According to the central bank, Portuguese tourists spent 504.17 million euros abroad during July. It is an increase of 18.1% or 77.4 million compared to the same month in 2018, almost eight times greater than the increase in Portuguese tourism revenue that same month, which was 9.7 million (+0.5%, 2.021.05 million).
This is something that has been happening throughout the year: the spending of Portuguese abroad grew more than the spending of foreign tourists in Portugal. But larger increases are infrequent and octuplet increases are extremely rare.
The data from Banco de Portugal for 2019 indicate that, in the first seven months, the average increase in spending in Portugal by foreign tourists was 5.1%. The average increase in spending by Portuguese tourists abroad was 11.6%.
Monetarily, the increase in spending by foreign tourists in Portugal represents 457.18 million euros. The increase in spending of Portuguese tourists abroad is 313.37 million since the increase in tourism revenue of 5.1% is relative to the 8.913.09 million euros in the first seven months of 2018; while the increase in tourism spending of 11.6% is relative to the 2.5691.49 million last year.
This is also emphasized by the 77.4 million spent in July (an 18.1% increase relative to the 426.77 million in July 2018) compared to the 9.71 million in revenue (a 0.5% increase relative to the 2.011.34 million in July last year).