Portuguese Hotel Revenue Rose 7.8 Percent in October, INE Says

Portugal’s hotels recorded a 7.8 percent rise in revenue in October from the same month last year as overnight stays by French, German, British, Brazilian and U.S. tourists increased.

Revenue rose to 173.5 million euros ($237 million) in October, the Lisbon-based National Statistics Institute said today in an e-mailed statement. In the first ten months of the year, revenue increased 5.2 percent to 1.77 billion euros.

Tourism represents about a tenth of Portugal’s gross domestic product, according to the Economy Ministry.

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