Back then, Portugal's competitiveness in international tourism markets was decreasing. In fact, the offer at the time was lagging behind the new market requirements. Therefore, Portugal was not making the most of its capacity to exploit the great opportunities 'Dream Society' tourism could offer.Diagram on New Tourism: A Sprint through History
Source: Jensen,Rolf. The Dream Society.
To improve Portugal's tourist competitiveness, THR chose 10 key tourism products selected from extensive research with sector experts. Business model per product formula
THR developed new business models for each product, assessing the market situation at the time, as well as trends, opportunities and Portugal's competitive capacity.
Moreover, THR identified the most suitable demand niches and geographic market to direct their marketing strategies at, as well as instruments to foster growth and prioritary locations to develop each product.
THR developed and submitted the following elements as part of its study:
Priority Matrix of Portugal's tourism products
Source: Based on 'The GE–McKinsey nine-box matrix'
- List of 10 key tourism products to be developed in Portugal.
- Key customer niches and most interesting geographic markets for each product in Portugal.
- Business models for each key product.
- Prioritary areas within Portugal for the development of tourism products.
- Most appropriate instruments to support growth according to each product.