Porto registers sustained population growth for fifth consecutive year
The city's resident population is over 252,000, consolidating Porto's economic growth and attractiveness for investment
InvestPorto
· 08 Jul 2025
The city of Porto reached a resident population of more than 252,000 in 2024, according to the latest data from the National Statistics Institute (INE), published in the Porto 2024 Economic Bulletin. This population growth is accompanied by a solid economic performance and an increasingly attractive urban environment for residents, workers, and investors.
The Porto Economic Bulletin is a periodic publication in infographic format that highlights the main indicators of the city's economic and social dynamics in an accessible way. The 2024 edition offers a comprehensive reading on demographic trends, employment, investment, tourism, housing, and regional income, acting as a decision-support tool for all the stakeholders in Porto's economic ecosystem.
In regards to its population, the city has seen a sustained increase in recent years, with a growth of 8.5% compared to 2020, reflecting the growing attractiveness of living and working in Porto.
At the same time, the number of people employed in the city reached 119,258 in 2023, 9% more than in 2022 and +22.4% compared to 2019. The qualification rate has also evolved positively, with 46.8% of the employed population having higher education.
In 2023, the Porto Metropolitan Area's nominal Gross Domestic Product was over 43 billion euros, corresponding to 16.1% of the national GDP. This growth of 8.6% over the previous year reinforces the region's central role in the national economic fabric.
The gross fixed capital formation of metropolitan companies reached 5,558 million euros, with a variation of +29.7% compared to 2022, revealing the increased capacity for investment and modernisation of the business fabric.
In regards to the tourism sector, all-time highs were recorded in 2024. The city's tourist accommodation establishments welcomed almost 3 million guests, while Francisco Sá Carneiro Airport handled 15.9 million passengers, reaching a new annual high. The Port of Leixões Cruise Terminal also had its best year ever, with 195,877 passengers in 2024, an increase of 31.6% compared to 2023 and 120.8% compared to 2019.
The housing sector in Porto also remains dynamic: in 2023, 426 buildings were licensed, 83.1% of which were for family housing. Although there was a slight decrease (-4.5% compared to 2022), the volume of construction remains high. In 2024, there were 6,908 dwellings sold, with an average price per dwelling of 295,021 euros. The total volume of sales is estimated to have exceeded 2 billion euros, representing an increase of 11.9% compared to 2023 and 19.4% compared to 2019.
Among the parishes, Paranhos led the way in terms of the number of homes sold (1,524), while the União de Freguesias de Aldoar, Foz do Douro e Nevogilde recorded the lowest number of transactions (469). The largest positive variation occurred in Campanhã (+69.9%), in contrast to the reduction in the Historic Centre (-14.8%).
In the rental market, the median value of new contracts reached 12.6€/m² in 2024, reflecting an increase of 7.3% over the previous year. However, this increase is more moderate than the one recorded between 2022 and 2023 (+17.4%).
The Porto Economic Bulletin 2024 is available for public consultation on the LEME platform - the Municipality's Economic Data Hub and on the ‘Strategic Studies’ tab of the Porto City Council's official website.
The Porto Economic Bulletin 2024 is available for public consultation on the LEME platform - the Municipality's Economic Data Hub and on the ‘Strategic Studies’ tab of the Porto City Council's official website.
A new update of the data is planned for the second half of 2025, when new statistics are released by official bodies.
