Tourism played an important role in this transformation. It brought investment, restored buildings, created companies and jobs and placed Portugal among the most sought-after destinations in Europe.

It would therefore be too simple to blame tourism for the housing crisis. The Portuguese problem is deeper. Morningstar DBRS estimates that, since 2014, a deficit of more than 300,000 homes has accumulated, the result of years of insufficient construction, high costs, lack of labour and difficulties in licensing processes.

But acknowledging this doesn't mean ignoring a reality: when there's little supply, any additional increase in demand creates pressure. The growth of tourism and short-term stays has become another factor in an already unbalanced housing market.

Perhaps that is why the time has come to stop discussing tourism and housing as if they were two independent problems. Portugal needs both.

It needs to continue to be a competitive tourist destination, because tourism represents investment, exports, employment and economic activity. But it also needs to ensure that those who work in our cities can live in them and that families find housing compatible with their income. The central issue is, therefore, planning.

When a city decides how it wants to grow, it should be able to anticipate how many houses will be needed, where it makes sense to increase the tourist offer, which buildings are vacant, which can be recovered or converted, where new projects should emerge and what infrastructure will be needed to keep up with this growth.

The OECD itself points in this direction by advocating a tourism policy that is more integrated with regional development, capable of better managing visitor flows, distributing the benefits of tourism throughout the territory and also considering the needs of local communities.

This also means looking differently at tourism investment. A hotel can restore abandoned heritage. A tourism project can regenerate a run-down area. New destinations can create economic activity in territories that are losing population. And in regions where finding workers has become difficult due to the cost of housing, perhaps tourism projects themselves will need to start considering housing solutions for those who work in them.

The future should not, therefore, be a choice between tourists and residents, hotels and houses or investment and quality of life. It should be a matter of balance and, above all, of anticipation.

Portugal already knows the economic importance of tourism. It also knows the dimension of the housing problem. What is missing now is to bring these two realities together in a territorial strategy capable of deciding where we want tourism, where we need housing and how both can coexist. Because the next chapter of Portuguese tourism should not be just about how many tourists we can receive.

It should be about what country we want to build with the tourism we have.