Revenues spent on local accommodation (AL) such as bed & breakfast guesthouses and AirBnB created a €980 million turnover in the Algarve over 12 months (July 2018-June 2019).
Some 5,752 local accommodation units opened for the period in a rapidly growing sector that creates around 20,000 jobs.
The statistics were published from a study undertaken by the Portuguese Hotel, Catering and Restaurant Association (AHRESP) in partnership with the Lisbon University Institute (ISCTE), which revealed the existence of a total of 32,405 premises in the Algarve.
The sample itself is based on information supplied by 233 accommodation owners, involving 2,947 units including apartments (77%), houses (21.3%), bed and breakfasts (1.3%), hostels (0.3%) and rooms (0.1%).
According to data presented in an audit from Albufeira Town Council, the local accommodation market created a business turnover worth €981.5 million, the equivalent of 19% of the region’s GDP and bringing €160 million in taxes to the State’s coffers.
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