IBERSOL Annual Report and Consolidated Accounts 2017

Introduction INTRODUCTION It is necessary to go back 17 years to find growth rates similar to those registered by the Portuguese economy in 2017. Gross Domestic Product (GDP) grew 2.7%, there- by achieving its highest rate since 2000, when the economy grew 3.8%.According to the National Institute of Statistics (INE), this value is 1.1 percentage points higher than the previous year, having reached, in nominal terms, 193 billion euros, as a result of the increase in the contribution from domestic demand. An economic scenar- io felt, quite directly, by various sectors, namely the hotel sector, which has largely benefitted from tourism, with Portuguese hotels registering an average annual oc- cupation rate of 71%, up three percentage points since 2016. Although tourism has been influential, Portugal is also in fashion for those who live here and are again beginning to con- sume at pre-crisis levels. The number of clients at our restaurants, where many Portuguese honour us with their choice every day, has also bounced back to what we registered before. They are demanding customers in every respect, from product, service and cleanliness, to the general ambience of the restaurant. These cli- ents increasingly share their experiences through comments or images over social networks, which have become an impor- tant asset to promote our products. 8