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Just before the pandemic hit in 2020 and global travel ground to a standstill, 2019 was a record year for tourism in Portugal, when the month of May registered 1.7 million international visitors.

Now, recent data from the National Statistics Institute (INE) shows that the number of tourists in May of this year surpassed that figure, reaching a record of more than 1.8 million. That's 200,000 more visitors than in the same period last year.

Perhaps unsurprisingly, visitors from the UK represented the largest share of international tourists. They were followed by tourists from the US, who have become the second-largest group for the first time after growing significantly in recent years.

The report, which measured only foreigners staying in Portuguese hotels, also showed that the number of tourists visiting Portugal in the first five months of 2023 surpassed 6.4 million, up from 5.7 million in the same period in 2019.

It's no news to anyone that Portugal continues to attract tourists, as well as digital nomads, second-home owners, young professionals, investors, retirees and families, but demand for properties is making it harder than ever to snap up your perfect home.

The high demand for rental properties provides an opportunity for investors to generate rental income. An excellent way to maximise your investment. For more information about property management and rental service click here.

Speak to your local real estate expert or contact the Algarve Home Sales team for more information about living in the Algarve.