Markets
United States of America

Market Characterization for Portugal

In 2025, the United States ranked as the third-largest source market for Portugal in terms of overnight stays (share: 9.6%) and the second-largest in terms of visitors (12.0%). In 2025, the U.S. market recorded approximately 2,366,400 guests (year-over-year change: +3.2%), who generated 5,459,500 overnight stays (year-over-year change: +4.9%). It stands out as the 4th largest market in terms of tourism revenue, with €3,137.0 million, an increase of 8.0% compared to 2024.

In terms of overnight stays, Greater Lisbon was the main destination for American tourists visiting Portugal (49.0%), followed by the North (21.1%) and the Algarve (11.3%). By type of accommodation, hotel stays predominated (70.9%), followed by private lodging (13.2%) and apartment hotels (6.7%).

The major airlines that carried American tourists to Portugal were: TAP (share: 29.4%), United Airlines (14.8%), Delta Airlines (10.3%), American Airlines (6.1%), and Sata International (5.6%). Most flights originated in New York (share: 29.9%), followed by Boston (16.9%) and Washington (10.2%).

According to SIBS data, Greater Lisbon accounts for 51.3% of the €835.0 million in card purchases originating from the United States in 2025. The North ranks second (share: 19.1%), followed by the Algarve (10.6%).

2025 Position | Year-over-Year Change
Guests 2.4M 2º | 3.2%
Overnight stays 5.5M 3º | 4.9%
Tourism revenue 3137.0M€ 4º | 8.0%
Disembarked passengers 1.3M 9º | 5.7%

Market Profile

Change 24/23
340.1 M Population
1.0 %
85372.7 USD GDP per Capita
4.6 %
2.9 % Inflation Rate
-1.2 pp
17.8 % Savings Rate
0.0 pp

The United States had a population of 340.1 million in 2024 and was the world’s largest economy (26.1% of global GDP).

According to Globaldata, the US was the second-largest source market for tourists globally, generating 142.0 million trips and accounting for 8.9% of total global tourism demand. About 30.1% of these travel flows are concentrated in Europe. The top three regions sending American tourists abroad were Florida with a 16.8% share, followed by California (11.8%) and New York (11.4%).

In turn, 56.4% of trips abroad taken by U.S. tourists in 2024 were by land; 39.9% were by air; and 3.7% by sea.

Perspectives

The IMF’s most recent projections indicate that the U.S. economy grew by 2.8% in 2023, despite the unfavorable global economic environment, particularly the conflicts in Ukraine and the Middle East, as well as rising costs for energy, raw materials, and intermediate goods. Growth of 2.0% and 2.1% is projected for 2024 and 2025, respectively.

According to GlobalData, between 2025 and 2028, international departures by U.S. tourists are expected to grow at a CAGR of 4.9%, reaching 172.4 million departures in 2028. Spending by U.S. tourists abroad is projected to increase at a CAGR of 8.1% over the same period. Forwardkeys forecasts that passenger flights originating in the North American market to Portugal will see year-over-year growth of 5.2% from June to November 2025.

OAG Schedules Analyzer estimates for the 2025 summer season (April 1 to September 30, 2025) compared to the 2024 summer season for the North American market reveal the performance of its main European destinations in terms of the number of scheduled seats available on direct flights from the U.S.: United Kingdom: 7.2 million seats (-2.2%), Germany: 3.9 million (+1.2%), France: 3.2 million (+2.4%), Italy: 2.3 million (+8.5%), and Spain: 1.9 million (+5.1%).

According to Google Destination Insights flight search data for the first four months of 2025, in terms of the number of searches in major European markets, the United Kingdom accounts for a 7.6% share, France (4.2%), Italy (4.0%), Spain (2.9%), and Germany (1.5%). Europe accounts for a total of 20.3% of the market share.

Data from Forwardkeys indicates that its forecasts for flights in terms of passengers originating in the North American market to Portugal, covering the period from November 2025 to April 2026, project a 4.2% increase compared to the same period the previous year.