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Local housing, called Alojamento Local (AL) in Portugal, generated a €980 million turnover in the Algarve in 12 months, according to the latest data released by the Portuguese Hotel and Catering Association (AHRESP).
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In the third quarter, only four EU economies grew less than the Portuguese, but two of the most important are among them: Germany and Italy. Portugal tied at 17th with four others.
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Those thinking of buying a house in the Algarve would do well to invest now, as Moody’s confirms in a new report. According to the credit rating agency, property prices in Portugal are expected to rise by at least 4% next year.
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According to a report by Oxford Economics commissioned by Google, the digitalisation of the Portuguese tourism industry could generate 50,000 additional jobs in the coming years.
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For the third consecutive year, Portugal has been named the World’s Leading Destination at the World Travel Awards (WTA), which took place in Muscat, Oman last week.
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