According to the Commission for Coordination and Regional Development (CCDR) of the Algarve, in 2021 there were 3,758 projects approved, totalling €231 million in funds, within the scope of 10 funding programs.

The data refers to the monitoring of the Regional Research and Innovation Strategy for Intelligent Specialisation (RIS3) in the Algarve, referring to various community programs.

According to the CCDR of the Algarve, the tourism sector continues to have the highest relative weight (51%) in investment projects, followed by Agro-Food with 15%.

However, the sector recorded a decrease of two percentage points in terms of the number of projects submitted, now representing 37% of the total, followed by the sea sector, which rose four percentage points, representing 17% of the total.

Investment in innovation and development by companies more than tripled, considering the evolution between 2014 and 2022.

According to the CCDR of the Algarve, in this period, relative growth was much higher than that of the other sectors, leading to a notable increase in the sector's representation, from 13.3% to 32.3%, compared to the total expenditure on innovation and development carried out in the region.