See How The Spanish Economy Boosted By Tourism and Exports in the First Quarter

See How Spanish Economy Boosted By Tourism and Exports in the First Quarter

2016 broke all record for tourism and 2017 is looking great too

Following a strong first quarter of Spain, Spanish Prime Minister Mariano Rajoy increased the economic outlook for the country. The economy was boosted by strong performances in the tourism and export industries.

The government now believes that national GDP will increase by 2.7% in 2017, up from the 2.5% expected at the start of the year. The stronger start to 2017 has been seen primarily in data about flights, hotels, and resorts showing record-breaking levels of tourism.

The Spanish real estate market is also offering encouraging interest and activity.

Rajoy said that the recent data for the first quarter of 2017, as well as forecasts both national and international, were behind the decision to revise the growth forecast.

The optimism matches the optimism shown by the Bank of Spain, which increased its own growth forecast to 2.8% GDP, putting Spain on the course to be one of the major economic performers of Europe in 2017.

The International Monetary Fund (IMF) published their own sober – if still encouraging – GDP increase. The IMF expects that Spanish GDP will increase by 2.6% this year, which would still leave the country ahead of the UK and USA for the second year in a row.

The Prime Minister expects GDP growth to continue across 2018 and 2019, leading to around half a million new jobs added each year. The result is that another million Spaniards will be in employment by 2020.

There is still some concern over the jobless rate, with Spanish unemployment sitting at 18.6%; one of the highest in Europe. Rajoy told reporters his government is planning a budget that prioritises this figure with plans to reduce unemployment below 16% by 2018.

Is the Spanish Property Market Being Boosted by Climate Change?

Is the Spanish Property Market Being Boosted by Climate Change?

Spanish summers are getting longer which

is wonderful for the area

This idea sounds a little silly at first; how could climate change – a very real problem – be contributing to a market whose strength is determined by how many people buy and sell properties?

There is one voice in coming out of the Spanish property industry that is suggesting that the Spanish summers are getting a little longer and now high season has been extended so much that the property and tourism sectors of Spain are bound to see some benefit.

The voice belongs to Chris White; who has been working in the property industry of Spain for decades now. He believes that climate change has had an impact on the already excellent climate of Spain that has been good for both industries.

The warm summer sun in Spain can last into December, long into the darkest and most dismal part of the year for the UK when the weather gets colder, the days get darker, and it’s too early to get into the spirt of Christmas. The property market of Spain is really reaping the benefits.

White says that the weather is one of the primary reasons British buyers are so in love with Spain. Spain is such an ideal destination for Brits because the sun and the sea are just a short flight away.

He added that Spain has very appealing during this time; when the weather in Britain gets colder and the night comes a little sooner. White said that Spain is already seeing the benefits of longer summers thanks to the record tourism numbers and the fact that Spanish property transactions have gone up for 24 of the past 25 months.

It is a little difficult say for sure if climate change had anything to do with these record numbers however. The Spanish tourism numbers have been growing quite a bit across the past 18 months. Part of this is also the rise of terrorism in countries such as Egypt, Turkey, Tunisian and even France. These countries have all been gripped by the hands of terrorism and so tourists are choosing the safer shores of Spain.

The rise of the Spanish property market could also be down to the improved economy of Spain and Europe as a whole thanks to banks putting less stringent restrictions on lending and a more transparent market.

Even taking this into account there is a bit of truth to Mr White’s words. The latest data from Aena; who manage a selection of Spanish airports, suggest that there are more Brits than ever before booking Trips to Spain in November and December. The number of winter tourists is also rising at a faster rate than the number of summer tourists.

White says that there is definitely a correlation between the number of people visiting Spain and the number of foreigners buying Spanish property. The longer and warmer winters and autumns are leading to more visitors and even more foreign interest in Spanish property. These visitors are also able to enjoy the beaches and waters of Spain, which is a plus for them.