Buyers may still be cool on the Spanish property market, but tourism is booming.
After posting a 7.4 percent increase in visitors in the first nine months of 2014, reaching 52.4 million visitors, Spain tourism is on track to set a record for the year, according to the Industry and Tourism ministry.
In August alone, more than 9 million people visited Spain, the most ever for a single month and an 8.8 percent increase from a year earlier.
In many ways, tourism is a leading indicator for the property market, especially with foreign buyers playing such a key role. In high-end markets in Barcelona and Marbella, international buyers are accounting for more than 80 percent of sales, estate agents say.
More tourists means more potential buyers, on a basic level. It’s also worth noting the origin of the current generation of tourists, which provide clues for home sellers on where to target their marketing.
According to the ministry data, visitors from Italy were up 15.9 percent to about 3 million, while France traffic was up 11.8 percent in the first nine months to 8.3 million. The number of visitors from Russia fell 7.6 percent to 12.6 million.
The Canary Islands saw the largest increase in arrivals, up 11.4 percent, with Madrid up
The regions which have seen the biggest boosts in arrival numbers so far in 2014 are the Canary Islands, up 11.4 percent to 8.36 million, and Catalonia up 10.6 percent and Madrid arrivals 9.6 percent higher than a year ago.
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