Renta 4 |Spain overnight stays in July almost at levels of same month 2019 1-. The number of visitors to Spain in July was almost (-2%) on a par with that of the same month in 2019, although prices are very much higher (+21%). 2-. The figures are significantly better than in 2021 (+61%), confirming the trend of recovery of 2019 levels versus previous quarters: Q1’22 (-22%) and Q2’22 (-6%)….
Spain welcomed 7.5 million international tourists in June, more than tripling the figure recorded in 2021 of 2.2 million, according to the National Statistics Institute on Tuesday. Tourism spending in June totalled 8.933 million euros, up 271.3% year-on-year. The UK was the country of residence of the largest number of visitors to Spain, namely 1.8 million, representing 24.2% of the total and a 1.165,9% increase on June 2021. Germany and…
Spain was visited by 6.1 million international tourists in April, more than nine times the figure for the same month last year (+869.8%), when 629,000 foreign tourists arrived in the country, according to data published by the National Statistics Institute (INE). Total spending by international tourists visiting Spain in April reached 6,901 million euros, an increase of 932.4% compared to a year earlier. With this new upturn in April, the…
Bankinter | The Q1 2022 results reflect a greater impact from inflation on costs. For that reason we are lowering our estimates (-6% at EBIDTA level) and target price -5% to 7,76 euros/share. That said, we believe that the share price has over-reacted (down 10% since the publication of results). So it’s a good opportunity to take positions in the stock. The news flow will improve in the coming months….
CaixaBank Research (Pedro Álvarez Ondina) | Spain’s tourism industry has developed exceptionally in recent years, becoming one of the country’s main sources of business, income and employment. However, this strong development had also led to the emergence of some negative actions and social unease regarding the role played by tourism at certain destinations and moments until, in 2020, the coronavirus crisis paralysed the sector’s activity and highlighted its social and…
Renta 4 | Consultancy STR and Cushman & Wakefield have carried out a study on the hotel sector in Spain, comparing estimates for 2021e with the figures for 2019. Revenue per room (RevPar) in 2021e will be around 43% of the 2019 level, mainly due to the decline in occupancy (-43,4 pp vs 2019 to 36%) as prices would remain around 2019 levels. At Renta 4 Banco we expect less of a…
For the first time since the start of the Covid-19 pandemic, Spain’s two largest cities, Barcelona and Madrid, have generated more hotel bookings than during the same period two years ago, reaching 111.68% and 102.03% of 2019 figures respectively, as of 24 October 2021, SiteMinder’s World Hotel Index reveals. These figures show the strength of Spanish destinations, beyond the coastal cities of sun and beach tourism, where travellers have already…
Judit Montoriol-Garriga (CaixaBank Research)| There is no doubt that the pandemic severely affected the property market on the Mediterranean coast and islands throughout 2020 and the first few months of 2021. The slump in international tourism due to restrictions on travel and uncertainty regarding how the health and economic situation would develop have led to a significant decline in the number of foreigners buying residential properties in Spain, plummeting by…
The Conversation | Spain scores very well in some of the parameters that generate soft power. We have a gastronomy, a cultural heritage, writers, filmmakers and sportsmen of the highest level. All this creates a kind of affection and attraction towards Spain among the citizens of other countries, which results in economic benefits, either through tourism or through the consumption of products made in Spain. In other words, a country’s soft power is its capacity to weave alliances and influence in the international sphere through the interest that the cultural, political or economic attributes of its society arouse in the citizens of other nations.
The organisation published a report yesterday in which the world economy could lose more than 4 trillion dollars between this year and last due to the impact of the pandemic on tourism, warning that losses in 2021 would be in a range between 1.9% and 2.7% of world GDP. For Spain, this range would be between 1.3% and 2.4% of GDP.