From 2013 to 2019, Portugal's travel agency and tour operator sector saw a robust increase in employment, peaking at 11.82 thousand employees in 2019. However, this positive trend was disrupted by the COVID-19 pandemic in 2020, causing the sector to contract significantly with sharp year-on-year declines continuing through 2023, standing at 8.05 thousand employees that year. The annual variation over 2022 and 2023 showed a decline of -9.93% and -8.83% respectively. The 5-year CAGR from 2023 to 2028 forecasts a steady decline of -4.32% annually, projecting a further reduction to 5.96 thousand employees by 2028.
Future Trends to Watch For:
Potential recovery post-2024 will hinge on tourism rebound and digital transformation in the sector. Innovations in virtual tours, personalized travel experiences, and resilient business models may influence future job growth. Monitoring geopolitical stability and economic policies will also be crucial for this sector’s workforce trends.
