In order to understand the consumption habits in Portugal between July and August 2024, SIBS, in partnership with Turismo de Portugal, publishes the indicators of the activity recorded in the MULTIBANCO Network, particularly with regard to payments and withdrawals, in infographic format, in a clear and factual manner, and with comparisons with previous periods.
Based on data provided by SIBS Analytics, consumption in Portugal grew by 9% in number of transactions and 5% in value (withdrawals and purchases), compared to the same period last year. The average value of each transaction was €40, €2 less than the previous year.
When analysing the indicators by sector, SIBS Analytics reveals that the sectors that saw the biggest growth were Leisure (+20% in number and +1% in value of transactions) and Restaurants (+16% in number and +9% in value of transactions). It should also be noted that in the summer months, 1 in 7 purchases in Portugal were made with foreign cards.
Consumption by foreign cards in Portugal increased by 9% in terms of the number of transactions made compared to 2023, although the value fell slightly, -2% compared to 2023. The top 5 foreign countries with the highest consumption in Portugal were France (21%), the United Kingdom (13%), Spain (12%), the United States of America (7%) and the Netherlands (5%). The average value for each transaction with foreign cards was 44€, a reduction of 5€ compared to the same period last year.
As for the Portuguese holidays in Portugal, there was an increase of 3% in the number of transactions and 8% in the value of consumption compared to the same period last year, with an average value per transaction of 40€. The Faro district once again proved to be the destination of choice, with 19 per cent of national card transactions made more than 50km from the place of origin taking place in the Algarve region. In terms of variation compared to 2023 in the number of transactions in the Faro district by national tourists, there was an increase in transactions with national cards from Braga (+3%), Leiria (+2%), Beja (+2%) and Santarém (+1%). Porto (-5%), Lisbon (-5%), Setúbal (-3%) and Coimbra (-1%) were the districts of origin that saw a downward trend in transactions in the Algarve region, while Aveiro (0%) remained stable compared to 2023.
In addition to Faro, the SIBS Analytics data also shows that the Portuguese are beginning to choose other destinations to spend their summer holidays, such as the districts of Lisbon and Porto, which saw an increase in the number of transactions with national cards made more than 50km from the place of origin in the regions of +25% and 18% compared to 2023, respectively.
Portuguese transactions abroad in July and August grew by 10% in number and 3% in value compared to the same period in 2023, with 73% of the total weight of Portuguese transactions abroad concentrated in Spain (42%), France (16%), Italy (7%), Belgium (4%) and the Netherlands (4%). The average value for each transaction made by Portuguese cards outside the country was €46.
