By Raymundo Larraín Nesbitt
Director of Larraín Nesbitt Lawyers
12th of January 2018
Spain became in 2017 the world’s second tourism destination overtaking the United States of America. In what has been an impressive turn of events, Spain managed to pulverize records year-on-year for the past five years. Spain now trails only behind France… for the time being.
With 82 million tourists in 2017 alone, Spain has consolidated an impressive track record in the hospitality industry. To put it in perspective, Spain has witnessed a staggering 60% increase in tourism since 2012. British occupy the first spot with over 18 million tourists. Germany occupies the second position with 11.4 million and France comes third with almost 7 million.
An all-year-round mild weather, beautiful unspoilt scenery, great food, friendly natives, modern health and transport facilities, amenities and a rich cultural background make Spain a safe touristic hotspot to be reckoned with.
For almost 30 consecutive years Spain has led the world-ranking of Blue Flags awarded by the independent Foundation for Environmental Education. 2017 was no exception, Spain once more led unwaveringly the world’s ranking with over 579 blue flags trumping its closest competitor. Blue Flags are only awarded after meeting stringent requirements and are an indication of their high environmental and quality standards.
It is in this positive context that investors are flocking back to Spain showing increasing interest in the potential of buy-to-let properties (Spain is currently undergoing a two-digit rental property boom p.a.). A burgeoning real estate market coupled with a consolidated tourism industry are luring investors to foray into the market with a renewed sense of self-confidence.
Now, if we can only get Mr Farage to sit down and agree to a second referendum, that would make my day.
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