DBRS Morningstar Releases: Portugal's Tourist Sector Will Fully Recover, Eventually

DBRS Morningstar released a commentary that considers Portugal’s travel and tourism sector (T&T), which will not fully recover this year. The global pandemic is as bad at the start of 2021 as is was at any point last year and the vaccine rollout across Europe has been slower than expected. Travel restrictions will remain in place for longer and many people will choose again to cancel or postpone travel plans. Given the importance of the tourist sector to Portugal, this will likely delay the country’s full economic recovery. However, the COVID-19 shock will be temporary and should not result in long-lasting change to Portugal's T&T sector.

“This crisis will inevitably have severe consequences for many workers and firms, particularly those exposed to travel and tourism,” said Jason Graffam, Vice President of Sovereign Ratings at DBRS Morningstar. “That said, we expect demand for Portugal’s tourist services to eventually return to pre-pandemic levels. The characteristics that made Portugal attractive for global visitors prior to the crisis will remain long after the pandemic.”

The commentary: Portugal's Tourist Sector Will Fully Recover, Eventually is available at www.dbrsmorningstar.com.

For more information on Portugal visit www.dbrsmorningstar.com or contact us at info@dbrsmorningstar.com.

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