The employment in the Travel Agency and Tour Operator Activities sector in Portugal has shown significant fluctuations over the last decade. It increased from 7.28 thousand full-time equivalents in 2013 to 12.46 thousand in 2023, demonstrating robust growth despite a dip in 2020 due to the global pandemic. The year-on-year variations peaked in 2015 at 10.47% and hit their low in 2020 at -11.29%. The last five years ended with a CAGR of 3.15%, showing continued recovery and growth. For the forecast period from 2024 to 2028, a modest CAGR of 1.83% is predicted.
Future trends to watch for include:
- The impact of technological advancements and digital transformation on the travel and tourism sector.
- Changes in consumer behavior and preferences post-pandemic.
- Sustainable tourism practices gaining prominence.
- The influence of governmental policies and economic conditions on the sector's growth.