Tag Archives: economic times

Algarve auctions off major luxury resort


We talk about the tough economic times that have hit Europe and how they’ve specifically affected the Algarve all the time on this blog, and today is not any different unfortunately, we will be reporting about an unprecedented activity that will take place in the Algarve later this month: the auction of a major luxury resort.

The Algarve property market is turning

algarve market

We’ve been reporting on the very tough economic times that the Algarve has been going through in the past few months, but today we’ll be reporting on some better news actually, in regards to the Algarve property market.

Half of the Algarve hotels are closed for the winter

Algarve hotels

It appears that during this cold season – the 2013 season – the number of Algarve hotels closing their doors is expected to rise according to the Portuguese Hotel Association – AHP.

We tout the idea of visiting the Algarve during the winter a lot on this website because of the reduced prices, considerably smaller crowds and milder temperatures however we’ve also talked about how the tough economic times are battering the area, and today is going to be one of the latter types of articles.

The Algarve is great for self-catering vacationers

The Algarve is great for self-catering

According to a recent survey from the Post Office Travel Money, self-catering vacationers who will choose the Algarve as their destination for their holiday can cut their spending costs by more than half, when you compare it to other warm European destinations such as Cyprus.

These savings are there only for those who like to self-cater, and considering the tough economic times, more and more people are considering it as more than just a viable option, considering the difference in costs that it implies.

Thinking of studying in the Algarve?

Algarve University

For those thinking of studying in the Algarve, there is an interesting phenomenon taking place in the Algarve University numbers, thanks to a combination of two important factors. The numbers of enrolling students is increasing both from local students as well as foreign ones, due to the economic crisis and the fact that the university offers lectures in English.

A spokesperson for the Algarve University said that they are expecting around 300 international students to come follow their courses, while less local students will be going abroad. This is largely due to the economic crisis, which is making universities abroad much harder to attend financially, so some foreign students find the Algarve University as a more affordable alternative, and on the local front, it means that going to study abroad for Portuguese students is that much harder.

Some Algarve peak season 2012 numbers

Algarve peak season

Considering the tough economic times that the entire European region has been going through, and is expected to still go through for the near future, especially the rising economic problems in both Portugal and Spain, the prospects for tourism in the Algarve were not extremely optimist, looking from the outside.

It turns out however, that the Algarve peak season tourism numbers have met the expectations of the local Algarve Hotels and Resorts Association, in fact they were slightly larger than the numbers in the same period of 2011.