When we think about the national destinations that most attract international capital, the names of Lisbon or Porto immediately appear at the top of the list. However, there is a discreet municipality, historically known for being the gateway for discoverers, which is registering financial growth much higher than that of large metropolises. This “magical place” has become the new phenomenon of attracting foreign exchange, leaving behind established summer areas on the continent.
The analysis is brought by Jornal Económico, which reveals an impressive increase in the volume of payments made with non-national cards. The data shows that the money spent by foreign visitors in this location skyrocketed, tripling the values previously recorded.
The protagonist of this meteoric rise is Machico, located on the island of Madeira, which has become a magnet for tourist investment. Since 2023, the municipality has seen foreign spending increase by 184%, reaching a total of 53.9 million euros in a single year.
Overtaking famous destinations
The numbers revealed are surprising due to their direct comparison with other heavyweights in Portuguese tourism. The Madeiran municipality already earns more on foreign cards than iconic destinations such as Nazaré, Grândola, Óbidos or Figueira da Foz.
The same source indicates that this turnover places the location in a prominent position in the national ranking. The amount raised exceeds the total recorded in the entire Lezíria do Tejo region and is quickly approaching the numbers in cities such as Guimarães and Setúbal.
Growth higher than the capital
Although the capital continues to receive the largest share of the total pie, the speed of growth in Machico is incomparably higher. While Lisbon maintains its usual volume, the island municipality made a giant leap, rising sharply in the table of municipalities that raise the most money.
The aforementioned source explains that this performance is due to an unprecedented increase in tourism in a territory with less than 20 thousand inhabitants. The revenue generated by foreign cards is now more than double that recorded in traditionally strong neighboring municipalities, such as Calheta.
The Star Wars effect
In addition to the natural beauty and the increase in luxury offerings, there is a media factor that helped put the region on the global radar. The choice of Ponta de São Lourenço as the setting for a series in the Star Wars universe served as an irresistible international showcase.
The series producer described the archipelago as a “magical” and “incredible place”, attracting the curiosity of fans and travelers from all over the world. This media exposure coincided with the period in which revenues began to climb, validating the potential of the destination.
Hotel revenues soar
The influx of tourists to local hotels followed this explosive trend, with 110 thousand guests registered last year. The growth in demand was so marked that, in the month of July, the number of visitors had already equaled the total for the entire previous year.
It also explains that direct revenue in the hotel sector rose 86 percent, reaching around 10 million euros. Machico thus established itself as an emerging financial power, proving that it is not necessary to be Lisbon or Porto to capture the preference and wallet of foreigners.
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