A survey conducted by the Algarve Regional Association of Business and Services (ACRAL) among its associates found that 70% of entrepreneurs consider closing their activities partially or completely within the next 12 to 18 months.
The association has asked the government to take immediate measures to “save the remaining companies and job opportunities in the area”, which is being severely hit due to the covid-19 pandemic.
The Algarve is the southernmost region of continental Portugal. It has an area of 4,997 km2 with 451,006 permanent inhabitants, and incorporates 16 municipalities.
The region has its administrative centre in the city of Faro, where both the region’s international airport and public university, the University of Algarve, are located. The region coincides with Faro District.
Tourism and related activities are extensive and make up the bulk of the Algarve’s summer economy. Production of food, which includes fish and other seafood, different types of fruit such as oranges, figs, plums, carob beans, and almonds, are also economically important in the region.