According to real estate databank Confidencial Imobiliário Portugal has seen 166 new hotel projects bid for licenses in the first six months of this year. This represents an increase of 23% on the same period in 2018 and comes when “the country is set to have welcomed 27 million tourists by the end of the year” – raking in around €17 billion.
Lisbon and Porto “lead investment intentions”, says CI, with the regions of the north and Alentejo involving the most number of projects.
Possibly because it is already hugely popular, the “most important touristic region” in the country, the Algarve, is the one that “has least captured the interest of investors”.
Even so, there are still 20 new touristic projects in the offing, ready to roll out another 51,000 square metres of holiday hospitality.