01 — The outbound ledger
Banco de Portugal carries the debit line — what residents spend travelling abroad:
| Measure | Value | Scope · source |
|---|---|---|
| Residents’ travel spending abroad | €7.16bn +4.5% | Banco de Portugal travel debits, 2025 |
| Travel & tourism balance | €22.0bn +€1.1bn | BdP, 2025 — the widest surplus in the series |
02 — The inbound mirror
The nights come from INE’s lodging survey; the money from the central bank. Different instruments, shown side by side, never added:
| Measure | Value | Scope · source |
|---|---|---|
| Tourism receipts | €29.13bn +5.0% | Banco de Portugal / Turismo de Portugal, 2025 |
| Overnight stays | 82.1M +2.2% | INE, 2025 — 57.0M by non-residents |
| Top markets (nights) | UK 10.1M −1.5% · Germany 6.4M +1.2% · France 3.2M −1.2% · USA 3.1M +8.0% · Spain 2.9M +3.6% | INE, 2025 |
| H1 2026 pulse | receipts €12.87bn +4.2% | Banco de Portugal |
03 — Gateways and ports
Lisbon runs at the edge of its concrete; the long-promised new airport is now a capacity story, not a plan.
| Measure | Value | Scope · source |
|---|---|---|
| Lisbon (LIS) | 36.1M pax +2.9% | ANA / VINCI Airports, 2025; average occupancy 85.5%; the city took more than 9.5M tourists |
04 — TIO coverage of Portugal
Everything the office publishes on the country, one click away:
Sources. Banco de Portugal travel balance (2025 annual; H1 2026 update) · INE overnight-stay series · Turismo de Portugal · ANA Aeroportos de Portugal. Nights (lodging survey) and receipts (balance of payments) are different instruments — shown side by side, never added.