The data on tourist movements at borders (Frontur) made public by the Spanish statistical institute show that the figures for the end of 2022, which are close to 72 million registered tourists, are still 14.3% below those recorded in 2019, a record year for Spanish tourism in which 83.7 million foreign visitors to our country exceeded 83.7 million. For the Minister of Industry, Trade and Tourism, Reyes Maroto, these data…
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….
T.C.| The large Spanish hotel chains are seeking liquidity by selling assets and are opting for the ‘sale & leaseback’ option to maintain management. According to Meliá’s director of real estate, Mark Hoddinott, the group is identifying assets worth between 150 and 200 million. NH, the Spanish chain controlled by the Thai group Minor, is also considering the sale and leaseback of several hotels. According to Moody’s, the group expects to generate more than 200 million in additional cash. RIU, a partner of the German group TUI, has three hotels for sale: in Madeira (Portugal), Lanzarote (Spain) and Panama with a combined valuation of around 250 million euros.
MADRID | The Corner | They keep coming and, more important, they spend more money, which adds to the recovery. Foreign tourists visiting Spain spent €2.63 billion in the first semester, a 7.8% more than in the same period of 2013, according to official data. British citizens are the biggest spenders, followed by the Germans. Tourism is a crucial sector of Spanish economy, accounting for more of 10% of GDP.
MADRID | The Corner | Spanish national tourism starts to reactivate: the number of travellers residing in Spain grew at the same rate than the number of residents abroad. The recovery in tourist expenditure of the Spanish households suggests that the private consumption may grow in the 2Q14 –although probably at a slower pace than in the previous quarters (+0.4%). The evolution of the heavy traffic in Spain’s toll motorways also points at a recovery in the domestic demand, which is a necessary component to compensate for the loss of pulse of the external sector and allow a new quarterly advance in the 2Q14 activity (+0.4%).
MADRID | By Jaime Santisteban | Business confidence reached an all-time high, encouraging the return of strong productive investment. Moreover, Deoleo complex process resolution, downward market trends and much more…
GENEVA | France fell four places from third in 2011 to seventh, while Spain climbed to fourth from eighth.
When you hear tourism in Spain, you may imagine local mayors receiving bribes from developers to re-qualify a piece of natural landscape that will be lost for ever. Think again. It is a strong, diverse and worth-a-fight industry.
LONDON | Kevin Burke, director at Visa Inc, believes that the Olympics work as a showcase for athletics, and the same goes for tourism. Burke released Wednesday data on Visa accounts spending levels of international travelers during the second week of the London 2012 Games, which reached $716.7 million. The figures mark a steady line, the total being $1.4 billion. Visitors from the US lead the top 10 list, some…