Portugal Hotel Revenue Declines 0.8 Percent in August, INE Says
Portugal’s hotels recorded a 0.8 percent decline in revenue in August from the same month last year as overnight stays by local tourists fell.
Revenue dropped to 297.9 million euros ($387 million) in August, the Lisbon-based National Statistics Institute said today in an e-mailed statement. In the first eight months of the year, revenue declined 2 percent to 1.3 billion euros.
Tourism represents about a tenth of Portugal’s gross domestic product, according to the Economy Ministry.
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