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According to data from the National Statistics Institute (INE), holidaymakers spent more than €23 billion in Portugal in 2016. Over 28 million visitors entered the country. The number of overnight stays exceeded 144 million. Tourism is growing four times faster than the rest of the Portuguese economy and represents 7% of the gross domestic product.
Lisbon has experienced the greatest decline in the number of young adults within Portugal in recent years. One factor contributing to the drop is the difficulty in finding affordable housing. In 2012, the median rent in Lisbon was €268, according to INE (“Instituto Nacional de Estatística”). In 2016, the average climbed to €830.
But high rent is only part of the problem. The ageing of the population is at the root of the decrease. In 1991, Lisbon had 138 seniors for every 100 young people (from 0 to 14 years old). By 2016, the number of elderly rose to 182, a proportional increase of 24%, making Lisbon the oldest council in the nation. Provisional population estimates advanced by INE indicate that the number of young people aged between 20 and 34 living in Lisbon went down from 95,830 in 2011 to 67,916 in 2016, a net loss of 29%.
The latest official statistics from the “INE” (Instituto Nacional de Estatísticas) may prove to be flawed since their records only take into account 1,831 official “AL” offerings. In contrast, the National Registry of Local Lodging (RNAL) tallies almost 50,000 enrolled “AL” establishments. Beyond these “aboveboard” businesses, there are still thousands of “underground” units in operation.