The Algarve is the southernmost region of continental Portugal. It has an area of 4,997 square kilometres (1,929 sq mi) with 451,006 permanent inhabitants, and incorporates 16 municipalities. The region has as its administrative centre in the city of Faro, where both the region's international airport (FAO) and public university, the University of Algarve, are located. Tourism and related activities are extensive and make up the bulk of the Algarve's summer economy. Production of food, which includes fish and other seafood, fruit, oranges, carob beans, figs and almonds, is also economically important in the region. The Algarve is the most popular tourist destination in Portugal, and one of the most popular in Europe. Its population triples to nearly 1.5 million people in the peak holiday season thanks to seasonal residents, and receives an average of 7 million foreign tourists each year. In total, including national visitors, almost 10 million people visit the Algarve annually.
The Algarve is currently the third richest region in Portugal, after Lisbon and Madeira, with a GDP per capita 86% of the European Union average.