Tourism is one of the most significant industrial sectors in Portugal. In 2021, the industry contributed an estimated $25 Billion to the country’s gross domestic product (GDP), accounting for 10% of the total. The tourism industry in Portugal has been growing at an insanely rapid rate thanks to its readiness to accept change and new developments. This is also the case with the gambling industry, which recorded an impressive 17% increase in revenue generation in the second quarter of 2022.
Betting in Portugal has now become a steady source of GDP revenue for the nation. All over the world, gambling and tourism are two industries that have proven to be very beneficial to each other. After the legalization of gambling and casinos in New Jersey, USA, the state’s tourism sector’s contribution grew to $30 billion, making it one of the country’s highest.
In Portugal, where the two industries are still in their early growth stages, a partnership between them can lead to massive individual success. In this article, we’ll look into some ways gambling and tourism in Portugal can help each other.
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How Gambling and Tourism in Portugal Can be Beneficial to Each Other
Gambling and Tourism are two sectors that have a reputation for being dynamic. Their willingness to accept change is why they are among the fastest-growing industries in the world. Since they can both work hand in hand, here are some of the major ways they can be beneficial to each other.
1. Casinos are Tourist Attractions
When people visit a new country or place, they want to explore and see some of the areas they’ve read about in books or watched in movies. For example, millions of people visit Las Vegas every year to experience the exciting gambling nightlife displayed across Hollywood movies. This has led to massive growth in the city’s tourism sector, making it one of the most popular tourist locations in the world.
The same can be said for Portugal. State-of-the-art casinos and wonderful gambling experiences are enough to attract people into the country. In the 1969 James Bond movie,
2. Great Source of Entertainment
Tourists, in general, travel to have fun and relax. They want an escape from their usual way of life and what better way to do it than to travel to a foreign land and experience their culture?
Among the many ways tourists can enjoy their travels, there’s none more entertaining than casino gambling. This is because it can serve as both a source of entertainment and income for the tourist.
More money from gambling winnings is also beneficial to the Portuguese tourism sector because, most times, the winnings end up going back to the economy through restaurant visits or antique purchases. Plus, winning will make the experience more memorable for the tourists and increase the chances of them returning.
3. Foreign Players Can Get to Experience Gambling
In some countries, all forms of gambling are illegal. Citizens are not allowed to gamble at both land-based and online casinos. Some might love and want to gamble but can’t due to the law.
Tourism can help some citizens of these nations, especially when they visit countries like Portugal, where gambling is legal. This way, they get to play their favorite casino games without worry, thereby contributing to the growth of the gambling industry.
The Bottom Line
The Portuguese online gambling industry contributes roughly $150 million to its economy, while the tourism industry is currently at $25.5 billion. If you compare these figures to what they were a decade ago, you’ll see just how far the two industries have come. They both have a reputation for finding new ways to scale and grow, and there are ways they can both help each other.
For one, famous casinos can serve as tourist attractions. Even people who don’t want to gamble can visit to see the state-of-the-art facilities and beautiful scenery. Gambling can also act as a great source of entertainment for tourists who are looking for ways to relax. Finally, tourism in Portugal can help the gambling industry by attracting foreigners from countries where gambling is illegal.
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