Portimão’s once-popular shopping streets have lost nearly a third of their trade in the last decade, with more businesses expected to close down in the future.
According to a survey conducted by the Algarve Retailers Association (ACRAL) and the Portimão Commerce Association (ACP), of the 300 shops included in the URBCOM programme for the recovery of the city’s commercial centre introduced 10 years ago, 90 businesses have already closed their doors. The data collected also shows that during that period, 110 shops changed ownership.
According to ACRAL president João Rosado, “if no measures are taken, the situation is likely to worsen.”
João Rosado pointed out that the weakening of traditional trade is not only a result of the economic crisis, but also due to the number of large-scale commercial centres in the council area.