Behind this week’s headlines
Portugal’s minister of finance said today that growth in the first quarter and the decline in inflation to 4% in May was “good news”. He added that it opened up good prospects for the rest of the year.
More US visitors
The travel industry in Portugal has rebounded well from the COVID pandemic and more Americans than ever are visiting. The number of American tourists in 2022 increased by 27% and their spending increased by 51% compared to 2019. The US is now Portugal’s 4th largest market, according to a report in TravelPulse, which is said to be the most visited travel trade website in the world.
April was a record month for tourism in Madeira in that a total of 923,000 overnight stay were recorded by the regional statistics office. This was 10.9% up on the same month last year. It is the first time more than 900,000 overnight stays have been exceeded.
New bank rules
A new law that came into force yesterday prevents banks for charging from changing account holders in the event of death. It also stops them charging for photocopying documents.
Youth Day security
It has been announced that more than 10,000 officers will be mobilised to ensure good policing and safety during the World Youth Day celebrations, which will take place in Lisbon on the first week of August and be attended by Pope Francis as well as many thousands of young people from around the world.
International street art
It has been announced that the old marine equipment factory of the Portuguese Navy in Lisbon will be the venue for this year’s international street art exhibition. It starts June 21 with works by 18 Portuguese and foreign artists.