Portugal Records the Worst Tourist Season

16 September 2008

AHETA, the Algarve’s regional hotel and resorts association, has reported that the Algarve has seen a drop in hotel occupancy to the tune of 3% below 2007 figures. With a lack of visitors, especially from the UK, not meeting the expected bumper year figures, this summer has been one of the worst on record.

The AHETA President, Eliderico Viegas, said that the region’s tourism industry wasn’t expecting this decrease in tourist demand, adding that most hotel operators were forced to cut prices in August, but even so found themselves far below the typical August visitor numbers.

The Algarve’s many restaurants, bars and nightclubs have also been hit by the reduced number of tourists, with AHETA stating that the weak British pound and the lure of cheaper destinations such as Turkey, Egypt and the Caribbean enticed the UK holiday makers away.

UK holiday makers account for 37% of the Algarve’s summer trade.

With this news in mind, Principal International have expanded their offering of investment properties to include the areas of increasing tourist numbers, such as Turkey, Egypt and the Caribbean. Where greater returns can be seen in rental income and capital growth in the aforementioned countries.

So to take advantage of the current investment climate, contact Principal International to discuss the many options available to you.