Local housing earns most owners less than 20,000 euros per year, but for 39% of them it represents more than half of the family budget, according to a study conducted by NovaSBE and presented on Tuesday.
Presenting the final conclusions of the ‘Study on the Impact of Local Accommodation in Portugal’ in Lisbon, economist and researcher at the Nova School of Business & Economics Pedro Brinca emphasized that 46% of local properties in Portugal generate less than 20,000 euros per year for their owners.
At the same time, this income represents “more than 60% of the family budget” for 39% of respondents in the surveycarried out at the request of the Local Accommodation Association in Portugal (ALEP) and based on 1,820 responses from owners and managers.
This is one of the data that the team that conducted the study concludes local accommodation “has been a driver of the national economy” and has generated “added value” both in terms of economic activity and employment.
Based on 2019 figures, the study estimates that the sector is responsible for 306,096 direct and indirect jobs (representing 6.18% of the national total). In other words, each local accommodation creates “almost four jobs,” he specifies.
In terms of gross domestic product (GDP), the contribution of expenditure by tourists staying in local accommodations in 2019 amounted to 9.9 billion euros (4.64% of national GDP).
According to the research, both this contribution and job creation have increased since 2016.
The growth of tourism in Portugal – ALEP emphasizes in the statement on the results of the study – “was only possible thanks to the rise of local accommodation, which already represents 40% of tourist overnight stays”.
Guest spending at local properties “increased 57% between 2016 and 2019,” the association said.
Source: DN
