Formula 1 boosted 4% growth in national overnight stays in the Algarve in October

Formula 1 boosted 4% growth in national overnight stays in the Algarve in October


The Formula 1 Grand Prix held at the Autódromo do Algarve will have boosted the 4% growth in overnight stays of the national market in the region in October, according to the National Statistics Institute (INE).

"Highlight for the growth in overnight stays of residents in the Algarve (+ 4.0%), which may have been related to the holding of a sports event this month in the region", stresses INE in its monthly bulletin on tourist activity in the country in October.

Remember, the Portuguese GP, played between 22 and 25 October on the circuit of the municipality of Portimão, will have a maximum of about 30 thousand people, according to the announcement made at the time by the organization of the race.

According to the INE's quick estimate, in October 2020, the tourist accommodation sector should have registered 1 million guests and 2.4 million overnight stays, which corresponds to year-on-year changes of -59.3% and -63, 0%, respectively.

In the Algarve, there were 700 thousand overnight stays (-63.7%): 244 thousand residents (+ 4%) and 457 thousand non-residents (-73.1%).

On the other hand, across the country, 29.9% of tourist accommodation establishments are said to have been closed or there was no movement of guests in October. In September, that number was 24%.

Regarding airport activity, Faro Airport recorded a movement of 1.0 million passengers in the third quarter of 2020 (19.3% of the total).

This number corresponded to a reduction of 70.1% compared to the same period in 2019. In the previous quarter of this year, the decrease was 98.8% in year-on-year comparison.

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