beach umbrellas

Villa rental potential grows as Algarve tourism reaches new heights

2024 has arrived, so we can expect another year of growing trends within the travel industry. Of course, the unprecedented growth of the Algarve’s tourism is a key focus for SandyBlue.

In recent news, the Secretary of State for Tourism has said that 2023 was the best tourist year ever in Portugal. Many tourism records were hit, including more than 30 million guests, a growth of around 10% compared to 2019, which had previously been the best tourist year.

These developments cannot be ignored. In particular, it is an encouraging sign for those who are considering renting their property in 2024. It can be a daunting step to take – finding the right villa rental partner to guide property owners through the process will set them on the road to success.

With new tourism records being reached in Portugal, SandyBlue has been closely observing further trends that show a positive impact on the Algarve for 2024.

Emerging trends and markets

As the Algarve’s connectivity grows, so do the potential markets across the world. Over the years, the popularity of the region with the UK and Ireland has continued to grow. However, they are no longer the only audiences with their eyes on the Algarve this year.

New flights connecting Faro to New York, Azores, Southampton, Brest and Helsinki mean that, in 2024, we can expect to welcome brand new audiences. Looking at our data, with the USA as an example, traffic grows in new markets. Comparing 2023 to 2021, we have seen a 63% increase in traffic from the USA. Another rapidly growing market is Canada, with a significant increase in enquiries in the last three months alone.

An important trend to address with this new interest is word-of-mouth for tourist destinations. Guests looking to explore a new region will want clear evidence that the destination and accommodation is truly first class.

The diverse approaches to travel have also become more prevalent in recent years. No family or travel group will approach a holiday in the same way. Sustainable travel, wellness retreats, culinary tourism, active adventures … the list goes on. What makes the Algarve so unique is that it offers all of these things in abundance.

The key to educating potential guests is frequent and targeted marketing campaigns that cover the entire breadth of what the Algarve offers. At SandyBlue, we ensure no activity is left out so that our guides cater to the widest possible audience. In turn, our owner partners get to welcome new groups of tourists throughout the year.

Welcoming new guests and owner partners in 2024 is high on our agenda. Providing an unforgettable service for guests means that property owners will see a year of villa rental success!

By SandyBlue Team
||
[email protected]

SandyBlue – Algarve villa rental specialists.
289 392 236 | www.sandyblue.com