Press release
Impact of COVID-19 on Portugal Economy Market Research Report 2021-2027 | Share, Global Trends, Key Players, Growth Analysis.
Portugal, the southern European country on the Iberian Peninsula, reported its first case related to COVID-19 on March 3rd, 2020, and within a month the cases reached near to 10,000. As per the International Monetary Fund, the GDP of the country was $236.4 billion in 2019 with a growth of 2.9% as compared to last year. Due to the COVID-19 outbreak, a slowdown in all major economies has been witnessed due to which the exports and tourism sector of the country will be affected in the near future. In the wake of this, the government of the country has announced a package of around $10.0 billion in order to support workers and to provide liquidity to the companies. The package is equivalent to 4.3% of the country's GDP. The country reported a surplus budget of 0.2% of GDP in 2019 due to the strong economic growth however due to the pandemic the budget will report a fiscal deficit in 2020.To learn more about this report request a free sample copy @ https://www.omrglobal.com/request-sample/impact-of-covid-19-on-portugal-economy
The impact of COVID-19 pandemic on Portugal's economy is studied by classifying the economy into energy, healthcare, retail & e-commerce, aviation, manufacturing, travel & tourism, and other verticals. Most affected sectors in the country include aviation, tourism, and other temporary works. Portugal is highly dependent on the tourist for its income. Around 16.3 million, tourists visited the country in 2019 as compared to 10 million in 2014. As per the government data, in 2018 the share of the tourism sector was around 14.6% of the GDP, much higher than the global average. As per the Portuguese Hotels Association (AHP), by the 10th of March, when the COVID-19 was at the initial stage in the country, the cancelation rate for 411 hotels was around 60%. On 12 March 2020, the government announced the highest level of alert till 9th April and on 18 March 2020 state emergency was declared in the country for 15 days. Moreover, on 2nd April 2020, the state emergency extended to 17th April 2020.
Browse for Full Report Description@ https://www.omrglobal.com/industry-reports/impact-of-covid-19-on-portugal-economy
Key companies operating in Portugal whose business operations are affected due to COVID-19 include Continente, Groupe PSA, Groupe Renault, Jeronimo Martins, SGPS, S.A, Portugal Telecom SGPS SA, ANA Hotels Portugal, S.A., TAP Air Portugal, VIP Hotels, Volkswagen AG and so on. Multiple manufacturing companies have shut down their operations due to the COVID-19 pandemic. For instance, PSA announced to shut down its plant in France, Germany, Spain, UK, and Portugal. Renault also shut down its operations in the country by mid-March 2020, Moreover; Volkswagen’s Portugal plant reduced its capacity by 16% due to a shortage of workers and low demand.
Verticals Affected Most
• Automotive
• Energy
• Healthcare
• Retail & E-commerce
• Aviation
• Manufacturing
• Travel and Tourism
• Others (Construction, Electronics)
Company Profiles
• Continente Hipermercados, SA
• EDP - Energias de Portugal, S.A.
• Groupe PSA
• Groupe Renault
• Jeronimo Martins, SGPS, S.A
• Altice Europe NV
• SANA Hotels Portugal, S.A.
• TAP Air Portugal
• VIP Hotels
• Volkswagen AG
For More Customized Data, Request for Report Customization @ https://www.omrglobal.com/report-customization/impact-of-covid-19-on-portugal-economy
Media Contact:
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Email: info@omrglobal.com
Contact no: +91 780-304-0404
About Orion Market Research
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Impact of COVID-19 on Portugal Economy Market Research Report 2021-2027 | Share, Global Trends, Key Players, Growth Analysis. here
News-ID: 2384592 • Views: …
More Releases from Orion Market Research

Terahertz Technology Market Set to Witness Significant Growth by 2032 | TOPTICA …
The Terahertz Technology Market was valued at approximately USD 1.09 billion in 2024 and is projected to reach USD 4.08 billion by 2032, reflecting a compound annual growth rate (CAGR) of 18.1% from 2025 to 2032.
Terahertz Technology Market Overview
Terahertz (THz) technology operates in the electromagnetic spectrum between microwave and infrared waves, encompassing frequencies from 0.1 to 10 THz. This technology is gaining prominence due to its non-ionizing radiation, enabling…

Specialty Tapes Market Set to Witness Significant Growth by 2032 | Avery Denniso …
The global Specialty Tapes Market was valued at approximately USD 55.39 billion in 2023 and is projected to reach USD 96.3 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2032.
Specialty Tapes Market Overview
The Specialty Tapes Market encompasses a diverse range of adhesive products tailored for specific applications across various industries. These tapes are characterized by their unique properties, such as high temperature…

Safety Helmets Market Set to Witness Significant Growth by 2033 | MSA Safety, Uv …
The global Safety Helmets Market was valued at approximately USD 5.01 billion in 2024, and it is expected to reach around USD 9.76 billion by 2033, growing at a *compound annual growth rate (CAGR) of about 7.7% from 2025 to 2033.
Safety Helmets Market Overview
The Safety Helmets Market is gaining momentum as industries like construction, manufacturing, mining, and infrastructure increasingly emphasize worker safety and regulatory compliance. Safety helmets-designed to protect against…

Sales Performance Management Market Gaining Momentum by 2033 | Xactly Corporatio …
The global Sales Performance Management market was valued at approximately USD 5.62 billion in 2024 and is projected to grow to about USD 18.22 billion by 2033, with a compound annual growth rate (CAGR) of approximately 13.27% between 2025 and 2033.
Sales Performance Management Market Overview
Sales Performance Management integrates tools and processes designed to boost sales productivity, optimize incentive structures, and align field sales efforts with business goals. Today's market is…
More Releases for Portugal
Natural Cork Market with Top Companies Data - Amorim (Portugal), M.A. Silva (Por …
The Natural Cork Market Size was valued at USD XX.X Million in 2023. The market is projected to grow to USD XX.X Million by 2032, exhibiting a compound annual growth rate (CAGR) of XX.X% from 2024 to 2032.
In-Depth Analysis of Natural Cork Market | Research Report [2024-2032] - https://www.globalmarketstatistics.com/market-reports/natural-cork-market-11479
"Natural Cork Market" Research Report Revealing a Comprehensive Analysis of Industry Trends, Growth, and Opportunities By Types (Natural Cork, Agglomerated Cork, Others),…
Portugal Power Market Report- Share, Manufacturers, Demand Forecast | Energias d …
The Portugal Power Market research report is vital for buyers, stakeholders, new entrants, and existing vendors. Portugal Power Market provides top-notch market information along with the definition, production, application, and forecast. In addition, it describes the market by type, end-user, application, and region. Moreover, Portugal Power Market also provides external environment analysis and PEST analysis. Finally, Portugal Power Market report also offers strategies for businesses to deal with the impact…
Portugal Investment and Travel news
Portugal currently has one of Europe’s most popular immigration schemes, granting investors the right to live, work, and study in the country and visa-free travel within the Schengen Zone. If you are considering taking advantage of the Portuguese Golden Visa, now is a smart time to get started because changes to the program are being set into motion in January 2022, which means investors will no longer be able to…
Portugal Agriculture Market | Portugal Agriculture Industry | Portugal Agricultu …
Agriculture in Portugal is relies on tiny to medium-sized family-owned spread units. Over than one-third of Portugal is wooded. Most of the mountainous areas are well suitable to forestry and forest product, like cork, resins and pine and eucalyptus timber. Portugal crops a good form of product, as well as green, rice, corn, wheat, barley, olives, oilseeds, nuts, cherries, bilberry and edible mushrooms. Forestry has in addition played a vital economic role…
Portugal Telecoms, Mobile and Broadband Market Research 2019-2023 Industry Key P …
WiseGuyReports.com “Portugal - Telecoms, Mobile and Broadband - Statistics and Analyses” report has been added to its Research Database.
Scope of the Report:
Portuguese telcos looking to complete national fibre networks by 2020. Portugal has a medium-sized telecom market with a strong mobile sector and a growing broadband customer base focused on the delivery of fibre-based services. Investments in network upgrades are continuing in an effort to attract customers to high-end services,…
The Baby Food Sector in Portugal 2018-Nestlé Portugal, Danone Portugal, Alter S …
"The Baby Food Sector in Portugal, 2018", is an analytical report by Publisher which provides extensive and highly detailed current and future market trends in the Portuguese market.
The baby food sector declined sharply up to 2014, but seemed to turn a corner in 2015 and 2016 thanks to increased birth numbers, an improved economy, and higher disposable incomes. A drop in the number of births in 2017, however, saw the…