The beginning of the war, especially in a time where the economy is still feeling the effects of the pandemic, has brought about instability in several sectors again. It is still too early to say if the war in Ukraine will have an impact on tourism in Portugal but, for now, what we can notice is that it’s not affecting it directly, as we have been seeing positive growth in the sector with the arrival of warmer days.
In LovelyStay, Russians and Ukrainians have always been a very small parcel of guests, so we haven’t noticed any reduction on the profitability of properties. There weren’t any cancellations as well since the beginning of the war, nor any decrease in the number of bookings we get daily.
We have outlined a strategy at the beginning of the year and we are following it. After studying the market and understanding tourism trends after two years of pandemic, we account for a gradual increase of guests, as we enter Spring and get closer to Easter.
“Our portfolio was kept stable on 65-75 euros/night (average) between January and February, then in March we have increased to 90 euros/night (average) and, from April on, we are getting strong tendencies between 125-140 euros/night (average), what motivates us a lot, as we have the goal of increasing gradually over the next months. We believe that we can achieve one of the best years for tourism in Portugal”, says Arthur Lepoutre, Revenue Manager at LovelyStay.
Air traffic keeps stable and strong, which shows that tourists from other countries are gradually returning to normal, especially when the restrictions due to the pandemic are disappearing. For this reason, and knowing that a lot depends on the development of the war – which we hope ends as soon as possible -, for now, the impact on tourism is still low.
The market tendency is very encouraging and a lot of specialists say that in 2022 we will reach numbers very close to those of 2019 – the best year ever for tourism in Portugal. Will the war still have an impact on tourism? We don’t know yet, but let’s be optimistic.
Either way, we know that it is a rough moment, so we are doing our share! Do you wish to help Ukraine? Know how in this link!
Translated by Joana Teixeira
