Markets
Argentina

Market Characterization for Portugal

In 2025, Argentina ranked as the 32nd largest source market for Portugal in terms of overnight stays (share: 0.3%) and the 30th in terms of visitors (share: 0.4%). In 2025, the Argentine market recorded approximately 85,500 guests (year-over-year change: +14.2%), who generated 190,100 overnight stays (year-over-year change: +12.7%). It stands out as the 36th largest market in terms of tourism revenue with €58.8 million (share: 0.2%), up 41.2% compared to 2024.

In terms of overnight stays, Greater Lisbon is the top domestic destination for tourists from Argentina visiting Portugal (49.6%), followed by the North (26.9%) and the Algarve (12.4%). By type of accommodation, hotel stays predominated (64.7%), followed by private rentals (25.2%) and apartment hotels (4.8%).

Given the lack of direct flights, the main airlines were: Air Europa Líneas Aéreas (30.8%), Iberia (share: 20.0%), Latam Airlines (12.9%), TAP (5.4%), Lufthansa (2.3%), and Air France (1.7%). Most transactions originated in the city of Buenos Aires (share: 88.7%), followed by Córdoba (8.4%).

Greater Lisbon accounts for 52.8% of the €11.9 million in card purchases originating from Argentina in 2025. The North ranks second with 25.8% of spending, followed by the Algarve (11.6%).

2025 Position | Year-over-Year Change
Guests 0.1M 30º | 14.2%
Overnight stays 0.2M 32º | 12.7%
Tourism revenue 58.8M€ 36º | 41.2%

Market Profile

Change 24/23
45.7 M Population
0.3 %
26389.7 USD GDP per Capita
-1.4 %
249.8 % Inflation Rate
116.3 pp
16.7 % Savings Rate
0.0 pp

Argentina is a South American country with a population of 45.7 million in 2024 and the 22nd largest economy in the world.

According to Globaldata, in 2024, Argentina was the 37th largest source market for tourists worldwide, generating 10.0 million trips and accounting for 0.6% of total global tourism demand. About 15.6% of tourist flows are concentrated in Europe. The main regions sending Argentine tourists to Portugal were: Buenos Aires (95.2% share), Córdoba (3.6%), Mendoza (1.6%), and other cities (0.2%).

In turn, 43.6% of trips abroad taken by Argentine tourists in 2024 were by air, 47.0% were by land, and 9.4% were by sea.

Perspectives

The latest IMF data show that Argentina’s economy contracted by 1.6% in 2023 and by 3.5% in 2024, and is expected to grow by 5% in 2025 and 2026. The government’s goal is to stabilize inflation, strengthen the country’s foreign exchange reserves, improve the exchange rate, and attract investment.

According to GlobalData, between 2025 and 2028, international departures by Argentine tourists are expected to grow at a CAGR of 5.3%, reaching a total of 12.73 million departures in 2028. Spending by Argentine tourists abroad is expected to increase at a CAGR of 9.3% over the same period.

According to estimates from OAG Schedules Analyser, comparing the 2024 summer season to 2023, the following number of available airline seats to major European destinations was assessed (April 1 to September 30, 2024): Spain: 380,000 seats (+22.7%), Italy: 95,000 (+16.1%), Germany: 40,000 (+0.1%), and France: 30,000 (-14.4%).

Analyzing the scheduled capacity from Argentina for the 2024–2025 winter season (October 1, 2024, to March 31, 2025), the following number of available seats to major European destinations is estimated: Spain: 400,000 seats (+19.4%), Italy: 105,000 (+10.5%), Germany: 30,000 (+2.2%), and France: 25,000 (-5.8%). The share of accommodation searches from Google Destination Insights reveals that Spain leads European countries with a share of 11.8%, followed by Italy (6.6%), France (3.3%), the United Kingdom (2.3%), Portugal (0.7%), and Turkey (0.6%), for the period from January to August 2024.

tabela-argentina-travelbi-turismo.png