October saw business booming in the region’s hotels, with the best figures recorded for the last 15 years.
According to hotels and resorts authority AHETA, occupation rates (the number of rooms filled) reached 67.9% – an increase of 6.4% on figures for the year before.
The success is due to the Algarve’s popularity in three major markets: the Brits (up 18.5%), the Irish (up 10.5%) and the French (almost 30% more tourists this year than last).
In the latter case, this could also have a lot to do with the growing French interest in the Algarve/Portuguese property market.
Elidérico Viegas also alluded to the “devaluation of the euro” which has hugely benefited holidaymakers from the UK, while the dollar’s corresponding holding of its value has also impelled people towards European destinations.
“Instability” in other areas popular with tourists is also working to Portugal’s advantage, he added.
As for the “most popular destination” in the Algarve, this continues to be Albufeira, where hotel occupancy rate ran at 72.9% in October, he said – and last week’s flooding has done nothing to dampen holidaymakers’ enthusiasm for the town.
Meantime, prices too have increased, helping to raise profits on last year.
Overall, AHETA forecasts a 5% occupancy increase across the region for 2015, plus a 7% increase in the volume of business.
