Tourism exports will start to recover from this year, according to Banco de Portugal projections (BDP).
Contudo, the banking regulator warns that the sector's recovery will be slow and that at the end of 2023 will still remain slightly below the levels recorded at the end of 2019.
– Exports of tourism and some associated services, like transport, suffered the greatest impact of the pandemic crisis in 2020, recalls the Central Bank in the June Economic Bulletin, released this wednesday.
In the first quarter of this year, exports of services stood at around 50% below pre-pandemic value, leading to the same, even with very significant recovery estimates projected for the second semester, should still settle at about 30% the level of 2019.
The BdP also warns of the additional uncertainty factor in the short term with regard to estimates for tourism exports, Noting that depend on decisions regarding the international movement of people in countries issuing tourism and in Portugal, advancing further that the gradual recovery will be in line with the lifting of restrictions and the reduction of fears of contagion with the implementation of vaccination.
