The number of overnight stays in the Azores in January 2023 compared to January 2022 rose by 50.8%.
Tourism in the Azores is expected to continue growing in the coming years. The main reason for this is the rising number of tourists from North America who are seeking new destinations for their holidays and discovering the charms of the archipelago.
According to OTA (Tourism Observatory of Azores) the number of overnight stays in January 2023 was 41 880 and January 2022 was 27 776 which reflects a large increase of 50.8%.
The island of São Miguel was once again the most popular destination, followed by Pico and Terceira.
The Azores offer a unique opportunity for real estate investment in the tourism sector. The islands' natural beauty and outdoor activities have attracted an increasing number of tourists in recent years, leading to a growing demand for accommodations, restaurants, and other tourist services.
Here are some factors to consider when investing in real estate for tourism in the Azores:
Location: The location of the property is critical for its success in the tourism industry. Properties near the islands' main attractions, such as beaches, lakes, and hot springs, are likely to be in high demand.
Property type: The type of property can vary from hotels and resorts to vacation rentals, hostels, or eco-lodges. Each property type has its advantages and disadvantages and should be chosen based on the target market and investment goals.
Infrastructure: The availability of infrastructure, such as roads, electricity, water, and internet connectivity, is essential for the success of any real estate investment. The Azores have been investing in infrastructure development in recent years to meet the growing demand for tourism.
Regulations: Real estate investors in the Azores must comply with local regulations and obtain the necessary permits and licenses. It is essential to consult with local authorities and trusted real estate agents to ensure compliance.
Overall, real estate investment in the Azores tourism industry offers a promising opportunity for those interested in the sector. The Azores offer unique natural beauty and a growing demand for tourist services, making it an attractive destination for investment.
Comments