Spain overtakes US as world’s second biggest tourist destination

 

Photo: Marbella, Andalusia’s flagship resort town.

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.

Sources

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About Raymundo Larraín Nesbitt

After completing his dual law degree in Madrid (ICADE) in 2003 Raymundo went on to work for prestigious Spanish and English law firms in Spain before moving to the UK for several years to work for a British multinational. He is a prolific writer of legal & financial articles in English, with well over 140 articles published and widely used in the Spanish real estate sector. Raymundo now runs his own law practice in Marbella, where he advises local and foreign clients on all legal matters with a focus on conveyancing and non-resident taxation. He is regularly quoted by the international press as a reliable source in his field of expertise.