Consumption in Portugal grew 12% in the summer compared to the same period last year, foreigners with a 23% increase in card transactionsSIBS said.
“According to data provided by SIBS Analytics, consumption in Portugal grew by 12% compared to the same period last year,” highlighted the entity that manages Multibanco, in a statement.
The organization also indicated that this growth “contributed the increase of 23% in transactions with foreign cards and 11% with national cards“, and “the average value of each operation was 41 euros for national cards and 49 euros for foreign cards.”
According to SIBS, “in relation to consumption with foreign cards, it should be noted that around 60% was made by tourists from 5 countries: France (23%), United Kingdom (13%), Spain (12%), USA ( 6%) and Germany (6%).”
The company’s data also reveals, with regard to Portuguese holidays in Portugal, that the Faro District “once again it has proven to be the destination of choice: around a fifth of national card operations carried out more than 50 km from the place of origin are carried out in the Algarve region.”
Thus, “78% of the transactions carried out in the Faro district during the months of July and August 2023 originate in seven other districts of Portugal: Braga, Porto (8%), Aveiro, Coimbra, Santarém, Lisbon ( 14%) and Setúbal”.
Portuguese transactions abroad in July and August “grew by 19% compared to the same period in 2022, distributing 73% of the total weight of Portuguese transactions abroad between Spain (42%), France (17%), Italy (6%), Germany (4%) and Belgium (4%).”
SIBS revealed that the accommodation and leisure sectors recorded significant growth compared to the same period in 2022, of 24% and 23%, respectively, followed by restaurants (+19%) and transportation (+11%).
Source: Observadora
