Increased tourism set to boost investment prospects

22.01.2008

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 which is 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 which is 4.3 per cent more than during the previous year.