Carris (main transport operator in Lisbon) offers city tours on open-top buses. €14 each hop on/hop off (every 40 min) tour valid for 24 hours so you can start any time of day/evening and valid for other forms of transport too on day of purchase. They do a circuit of a route marked by set stops and give a commentary of points of interest via headsets.
Other tours including trams are not on/off but 1-2 hours in duration. €17
Most city bus/tram tours including Aerobus (airport to city) for 48 hours costs 30€.
Save a lot of time and money and buy at the aairport (at the post office) as many passes are not on buses and only at metro stations.
Starts at Praca do Comercio at the bottom of town near Information centre.
You've had fun on the buses, trams, metro etc. on you day of arrival using the ticket you bought for three euros (Feb 08) on the air shuttle bus, but what about day two?
Get a card Viva for three euros fifty and have more fun, but don't throw the card away, as you can top it up for more days/journeys the following day.
I don't know if you can have two or more days added when you buy it, as I didn't know you could top it up at the time of original purchase!
Word of warning: when we went in to the shop selling Carris travel cards on Praca da Figueira on Day two of our stay in Lisbon they wanted to sell us each a plastic card (four euros apiece, not returnable, unlike the London Oyster card) and then top those up with a day pass each for three euros fifty.
Being mean (and green) and not planning to be back in Lisbon in the foreseeable future, I decided to walk to the Cais do Sodre metro station where we were sold the paper Viva card for three euros fifty each.
We found out about the top up when we showed the cards the next morning at the metro cashier to explain what we wanted (my Portuguese is limited to ordering drinks!) and the cashier took them and topped them up.
Enjoy this fab city and use your card to max on the ascensores, elevadore and the ferries as well as the trams, buses and metro.
Metro stations and (possibly) Carris ticket booths - not open in Feb.
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