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The Lisbon Municipal Tourist Tax that is applied to overnight stays earned 3.88 million euros for the City Council between January and May. According to the municipality, the seven million Euro estimate should be “clearly exceeded” by the end of the year.
Local Lodging offerings in Madrid outpace Lisbon by ten fold. The Spanish capital currently has over 210,000 listing and continues to grow. Local Lodging yields are almost 50% higher on average than conventional long-term lets.