Restaurant sales in Portugal are getting over their stagnation from the financial crisis.
Between 2013 and 2015 revenues recorded a compound annual growth rate (CAGR) in Euro terms of 4.2 percent.[verdict_chart id=”8137″]
The government has helped the recovery.
In 2016 the Portuguese government lowered value added tax on foodservice operators from 23 percent to 13 percent, the tax level before the financial crisis.
Lisbon especially has benefited from an increase in tourism numbers. Tourism receipts in Portugal from international visitors have grown from €11.2bn in 2014 to €14.7bn in 2017.
This growth will result in Portuguese restaurants bringing in sales in excess of €4bn by 2020, a far cry from the crisis hit sector a decade earlier.
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