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November 29, 2017

Portugal: Portuguese Agencies and Tour Operators Worth 3.2 Million Euros

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The tourism distribution sector accounts for 2.1% of national GDP with a direct impact of 1.05 million euros, according to a study presented at the APAVT congress in Macau.

Agencies and tour operators have a total weight of 3.2 million euros, between direct, indirect and induced impact, translating into 2.1% of GDP. This is one of the conclusions of a study led by EY and Augusto Mateus & Associados, presented last Friday, November 24th, during the conference of Associação Portuguesa das Agências de Viagens e Turismo (APAVT) in Macau.

This research analysed the sector, taking into account its size and financial situation and recorded a 1.05 million direct impact of the tourist distribution activity and 1.8 million direct and indirect value. Isolating only the autonomous effect of operators and agencies, the value is 1.09 million euros. The so-called catalysed effect, which accounts for the "outgoing" and "incoming" reaches 2.1 billion euros.

The tourist distribution sector employs 82,000 people and is responsible for 1.5 million euros of salaries. The economic value of the sector in the country is 16%, compared to an average of 10% in the rest of the world and generates a turnover of 2.1 million euros.

The consultants who carried out the study also looked at the cash position of the agencies and operators and concluded that they have enough "flexibility", in particular to "increase the timing of travel expenses payment in business travel, turning travel agencies natural business partners."

Among the main points with a positive impact on the sector's sales, according to a survey to the APAVT members, is the "Portugal" brand popularity and the market size. In terms of negative impact, direct competition from suppliers and tax legislation were mentioned.

The study, which is not fully completed yet, was presented by economist Sandra Primitivo at the end of the second day of the APAVT congress.

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