Increased Tourism Boosts Spanish Investment Prospects

Article Date : 22 January 2008
News Section: Spain

A growing tourist sector could be set to boost investment potential in Spain.

Figures from the Spanish government showed that it attracted 59.2 million foreign visitors last year - 1.7 per cent more than in 2006.

This means that the country will have seen greater demand for temporary accommodation from holidaymakers during this period.

If this trend continues into 2008, owners of Spanish property could find themselves in line to benefit from higher occupancy rates and rental yields.

The increased visitor numbers last year were also reflected in the overall revenue generated by the tourism industry.

Figures showed that the sector produced about £35 billion for the Spanish economy - 4.3 per cent more than during the previous year.

According to Holiday Which? magazine, Spain is likely to remain a popular tourist destination among Britons, despite the emergence of new markets elsewhere in the world.