Portugal tourism spending hits 5.2 billion as US travelers lead growth

Q1 spending climbs to €5.2 billion

Foreign tourists spent roughly €5.2 billion in Portugal between January and March, up about 3.7% from the same period last year, according to Banco de Portugal figures. March alone crossed €2.1 billion, the first time receipts have topped €2 billion in that month.

European visitors accounted for about €3.6 billion of the quarter, with UK travelers leading the European pack at more than €660 million. American visitors spent more than €1.1 billion, growing above 10% year-on-year and making the US the highest-spending national market. The figures follow a record 2025, when tourism receipts reached €29.1 billion across 32.5 million guests, Turismo de Portugal reported.

Where nomads will feel it

The spending concentrates in Lisbon, Porto and parts of the Algarve, the same neighborhoods where digital nomads and expats compete for furnished rentals. Banco de Portugal notes the receipts growth reflects higher prices in tourism-linked services, not just more overnight stays.

Medium-term renters in central districts like Santos, Estrela and Misericórdia in Lisbon, plus Porto's historic core, are most exposed on 1-6 month leases and co-living rates. Housing data shows the national median price near €2,900 per square meter, with Lisbon and Porto running well above that. Owners in high-occupancy zones often favor short-term tourist lets when nightly rates hold up, tightening long-term supply.

Short-stay tourists from visa-waiver countries still enter under standard Schengen rules, capped at 90 days in any 180-day period. Municipal nightly tourist taxes in Lisbon and Porto remain in place and become more noticeable as base room rates climb.

Budgeting and visa planning

Applicants for the D7 and remote-work residence routes should price accommodation against current Lisbon, Porto and Algarve rates rather than older benchmarks when preparing proof-of-means documents for AIMA and consulates. Statutory income thresholds are tied to the Portuguese minimum wage, though realistic cost-of-living budgets now sit well above the legal floor in major hubs.

Portugal has continued phasing out and reshaping the non-habitual resident (NHR) tax regime, partly in response to housing-affordability pressure linked to foreign demand. Nomads weighing a move should confirm which successor regime, if any, applies to their profile before committing to a lease.

Read our full Portugal guide for the complete picture.