However, the rise in team retreats has been noticeable. Due to remote working possibilities, teams are choosing to travel to new destinations and set up a temporary work base. Not only can it ensure productivity in person, but it allows the team to focus on wellbeing once the working day is done.

At SandyBlue, we are confident that the Algarve is the perfect destination for this rising market. Furthermore, it opens up more opportunities for property owners in the region for further villa rental success.

Why should property owners embrace this new market?

Work retreats are different from other types of getaways, due to the nature of them being held in the same place. While the average tourist will explore many destinations, a company will settle on one location to give it a sense of familiarity for the team. As a result, the chance of repeat custom immediately increases.

Property owners with larger villas should also embrace this market, as it is likely these villas will be snapped up for a work retreat. Even better is the length of the stay. While some companies will use a week for team building activities, others are now extending the stay to up to a month. This allows the team to work in a new environment, and in turn, it maximises rental income for the property owner.

How can work teams benefit from this approach to work?

Working in a new environment can work wonders for creativity and productivity, especially in a location like the Algarve. The sunshine, sea and gorgeous scenery will certainly boost productivity levels. The topic of workplace burnout is a huge topic internationally and companies will want to avoid their employees facing this.

What better way than allowing them to experience new things after they log off for the day? There is no better team building than a sunny boat trip to the caves, the exciting Dirt-E Bikers or some fun Crazy Golf. It also allows for individual exploration for those who want to unwind for some ‘me time’.

A trend to observe in 2024

As always, the SandyBlue team will be observing all travel trends as we continue to strategise with our owner partners into 2024. From new flight connections to new groups of tourists, we’re excited to see what the year brings for the Algarve.

For more information please contact SandyBlue at +44 (0)207 183 0412 (UK) or +351 289 392 236 (PT).