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 guests (12.0%). In 2025, the U.S. market recorded approximately 2,366,400 guests (year-over-year change: +3.2%), who generated 5,459,600 overnight stays (year-over-year change: +4.9%). It stands out as the 4th largest market in terms of tourism receipts with €3,137.0 million, up 8.0% compared to 2024 (share: 10.8%).

In terms of overnight stays, Lisboa was the main destination for American tourists visiting Portugal (49.0%), followed by the Norte (21.1%) and the Algarve (11.3%). By type of accommodation, hotel stays predominated (70.9%), followed by alojamento local (13.2%) and hotéis-apartamentos (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, Lisboa accounts for 51.3% of the €835.0 million in card spending originating from the United States in 2025. The Norte ranks second (share: 19.1%), followed by the Algarve (10.6%).

2025 Position | Year-over-Year Change

Guests 2.4M 2º | 3.3%

Overnight stays 5.5M 3º | 5.3%

Tourism receipts 3142.8M€ 4º | 8.1%

Disembarked passengers 1.3M 9º | 5.7%

Market Profile

Change 25/24

341.8 M Population

0.5 %

89991.2 USD GDP per Capita

4.4 %

2.7 % Inflation Rate

-0.3 pp

0 Savings Rate

0.0 %

The United States had a population of 340.1 million in 2025 and was the world’s largest economy (26.1% of global GDP).

According to Globaldata, the U.S. was the second-largest source market for tourists globally, generating 143.3 million trips in 2025 and accounting for 8.8% of total global tourism demand. Approximately 29.9% of these trips were to Europe (42.9 million trips).

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, 55.8% of trips abroad taken by U.S. tourists in 2025 were by land; 43.4% were by air; and 0.7% by sea.

Outlook

The IMF’s most recent projections indicate that the U.S. economy grew by 2.1% in 2025, 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 2.4% and 2.0% is projected for 2026 and 2027, respectively.

According to GlobalData, between 2026 and 2029, international departures by U.S. tourists are expected to grow at a CAGR of 3.1%, reaching 162.0 million departures in 2029. Spending by U.S. tourists abroad is projected to increase at a CAGR of 6.3% over the same period.

Amadeus forecasts that passenger flights originating in the North American market to Portugal will see year-over-year growth of 13.1% from April 2026 to March 2027.

The latest ETC trend barometer confirms that the U.S. remains the leading international market for Europe, standing out for its high willingness to spend on accommodation, food, and tourist activities, which reinforces its strategic role for European tourism and, in particular, for Portugal.