The gross value added (GVA) for sports activities, amusement and recreation activities in Portugal showed steady growth from 2013 to 2019, with notable peaks in 2017 and 2018. However, the trend faced a significant dip in 2020 due to the COVID-19 pandemic, reducing the GVA by approximately 32.72%. The sector showed a strong rebound in 2021 and 2022, reaching 1030.0 million Euros in 2023. This reflects an overall increasing trend with key variations year-on-year (YoY) and compound annual growth rate (CAGR) measurements.
Year-on-Year Variations:
- 2022 vs 2021: 24.65%
- 2023 vs 2022: 10.95%
CAGR Over Last 5 Years:
- 2023: 2.9%
The forecast from 2024 to 2028 indicates a moderate growth trajectory with a forecasted 5-year CAGR of 1.28%, resulting in a 6.54% growth rate by 2028.
Future Trends to Watch:
- Influence of economic conditions and disposable income on participation in recreational activities.
- Technological advancements and digital transformation in the sports and amusement industry.
- Green and sustainable initiatives within the recreational sector.
- Potential new waves of pandemics and their impact on social gatherings and recreational activities.
