Portugal is the most affordable option for foreigners searching for second home. The country has many things to offer to visitors. 2024 year was all full of chaotic in immigration world as countries come with more strict policies to control immigrants. Further, the increase in prices of citizenship by investment programs and ending of Spain Golden Visa jolted the investment migration world.
In this scenario, Portugal becomes the ultimate choice for immigrants from all around the world due to its affordable housing, low cost of living, 7th safest country in world and all year tourist activities. Let’s explore some industries in Portugal and how they performed.
Tourist Accommodation Sector
Tourism is an important sector that brings much needed FDI in the country in shape of international visitors spending which further leads to growth of tourist accommodation and other industries. As per Instituto Nacional De Estatística Portugal, the tourist accommodation sector experienced immense growth in 2024. The November 2024 statistics shows that record 2.2 million visitors and 5 million overnight stays. This means a growth of 14% in visitors and 9.8% in overnight stays.
Overnight Stays and Tourist Occupancy in Portugal
The overnight stays in these regions also grew significantly with Centre region on the lead with 24.6% increase, the Setúbal Peninsula 19.3%, the North (+18.3%) and the Azores Autonomous Region recorded 16.4% increase in overnight stays. The rate of tourist occupancy in tourist accommodations reached to 37.7% in the net bed occupancy and 49% in room occupancy rates showing 1.4% and 2% growth respectively. Since the start of 2024, the overnight stays in Portugal grew by 4.1%, 4.8% for non-resident tourists and 2.5% resident tourists.
International Tourists to Portugal
Portugal is favorite country for international tourists with a large number from the USA, the UK, Spain, Germany, Spain and Brazil. The statistics shows that 1.222 million non-resident tourists used tourist accommodation establishments. This includes hotels with 10 or more bed spaces. Here is the top 10 countries in terms of non-residents visitors in tourist accommodations:
| Tourists Countries | Tourists in Number |
| UK | 129,155 |
| Germany | 108,829 |
| Spain | 148,697 |
| France | 81,069 |
| USA | 153,576 |
| Brazil | 85,612 |
| Netherlands | 41,235 |
| Ireland | 22,064 |
| Italy | 48,664 |
| Canada | 41,489 |
| Poland | 30,079 |
| Belgium | 20,364 |
| Switzerland | 20,270 |
| Denmark | 9,646 |
| Sweden | 16,720 |
| Others | 264,580 |
| Total | 1,222,049 |
Top Regions with Non-Resident Tourists in Portugal
Greater Lisbon region was the most popular region among non-resident tourists in November 2024. 482398 non-resident tourists visited the region showing a growth of 5.2% when compared with November 2023. Following table shows the regions where non-resident tourists visited the most during November 2024:
| Regions | Nov-23 | Nov-24 | Increase in Numbers | Percentage Increase |
| Greater Lisbon | 458,705 | 482398 | 23693 | 5.2 |
| North | 221,541 | 258027 | 36486 | 16.5 |
| Algarve | 162,834 | 175843 | 13009 | 8.0 |
| Center | 42,143 | 48796 | 6653 | 15.8 |
| Madeira | 116,163 | 119937 | 3774 | 3.2 |
| West and Tagus Valley | 56,363 | 59,908 | 3545 | 6.3 |
| Setubal Peninsula | 18,616 | 22,876 | 4260 | 22.9 |
| Alentejo | 29,060 | 30,886 | 1826 | 6.3 |
| Azores | 20,008 | 23,378 | 3370 | 16.8 |
| 1,125,433 | 1222049 | 96,616 | 8.6 |
House Prices and Property Transactions in Portugal
As per the record, the HPI (House Price Index) during the 3rd quarter of 2024 shows a positive growth of 9.8% that is up by 2% from the second quarter in 2024. The prices of already constructed and completed house properties was higher than the new dwellings during the reference quarter with a rate of 10.5% for existing dwellings and 8.1% for new dwellings. The 3rd quarter of 2024 recorded the sale of 35462 houses or dwellings with a value of 7.7 billion Euros. This shows the growing interest of people in real estate sale and purchase.
House Rents in Portugal During 2024
House rent prices were also on rise during 2024 showing growth for real estate investors in Portugal. On average, the median house rents in Portugal for new lease agreements grew by massive 10.7% rate. This is due to high number of visitors and immigrants to Portugal is all time high. This means more income opportunities for property owners. The new lease agreements during third quarter of 2024 were registered with an average price of 8.00 €/m2.