Forecast: Employment in Travel Agency and Tour Operator Activities Sector in Portugal

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.

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