The Algarve continues to establish itself as a leader in Portugal’s €4.2 billion golf industry
– 18 October, 2024
According to a study examining the period from pre-pandemic 2019 to 2023 conducted by Ernst & Young Parthenon and commissioned by the CNIG and the Portuguese Tourism Confederation (CTP), Portugal’s golf industry generated €4.2 billion in 2023.
Golf continues to be a significant contributor to the national economy, accounting for 1.6% of GDP last year, creating over 111,000 jobs, and paying out more than €2.2 billion in wages. The sport is also helping reduce tourism seasonality, being especially popular outside peak tourist seasons.
Unsurprisingly, the Algarve remains the top destination for golfers, representing over 60% of national golf activity. In 2023, the golf industry contributed €120 million directly to Portugal’s GDP, with golf-related exports reaching €149 million, and business from golf courses has surged by over 40% compared to 2019 levels.
Article originally published by Michael Bruxo on Portugal Resident.
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