Tourism growth set to benefit investors in Spain

31.12.2007

Owners of rental accommodation in Spain will be likely to see greater demand from tourists after officials revealed that more holidaymakers were visiting the country.

According to the ministry of industry, commerce and tourism, 56 million people arrived in Spain during the first 11 months of the year, Thomson Financial reports.

This is up by 2.1 per cent on the number of holidaymakers recorded between January and November 2006.

Meanwhile, the volume of tourist arrivals was found to have increased by five per cent when last month was compared with the same period of the previous year.

The growth in the tourism sector means that more people will be seeking temporary accommodation in the most popular areas.

As a result, owners of Spanish property could be in line to pocket higher rental returns than they did in 2006.

Spain's continuing appeal among overseas property buyers was recently highlighted in a study by Knight Frank.

Figures cited by Property Week showed that Madrid and Barcelona were two of the most popular investment markets.