British Tourists Spend 17% More Money in Spain

British Tourists Spend 17% More Money in Spain

Brits love affair with Spain continues to flourish and always will

The Spanish economy was boosted in November of 2016 by about €4.91 thanks to tourism, an increase of 8.3% over 2015. Despite the damage done to the pound/euro conversion rate by Brexit, Brits are spending around 17% more per head during their Spanish holiday in November compared to November of last year.

The data comes from the National Statistics Institute (INE) and it shows British tourists in Spain spent around €776 million in November 2016. This was not just an improvement over the figures from last year, but it also accounted for 18.5% of all the money spent by tourists that month.

The interesting thing is that while there were more British tourists, the number was only up 12.5%, meaning that Brits are opening their wallets more with an average spend of €120 per day and €895 per holiday. The only thing that shrunk was the length of the average stay. Brits went from staying in Spain for an average of 8 days in the country to an average of 7.5 days.

Overall the Spanish economy received a boost of €4.91billion from tourism spending in November 2016, an increase of 8.3% on 2015. German tourists pumped €530 million of their own into the country, followed by Scandinavians with €482 million and the French with €291 million.

In terms of regional spending the most money was spent in the Canary Islands thanks to the promise of sun and sand in Winter; almost a third of all spending from tourists in November happened in the Canary Islands.

When analysing all 11 months of 2016 leading to the end of November, the amount of tourist spending in 2016 was pretty impressive. Expenditure was up 8.4% over the same period in 2015 or a massive total of €73.1 billion, of which just over 20% came from British tourists; proving that British tourists remain a key part of Spanish tourism.

Recovery possible on money paid on off-plan properties in Spain

Recovery possible on money paid on off-plan properties in Spain

The Supreme Court of Spain passed a landmark judgment that offers closure to nearly 100,000 British people who wished to own a place in Spain but ended up badly.

With this judgment, people who have paid a deposit for purchasing an off-plan property or have paid in stages but lost money due to the prevailing financial crisis in Spain will now be able to recover the money.

Costa Del Sol Property Groups lawyer have the

fastest root to claiming lost off plan deposits back.

Prospective buyers had paid deposits to the tune of £40,000 on an average and suddenly realized that their money had washed away owing to the financial crisis.

However, with this judgment from the Spanish Supreme Court, banks will be held responsible for the missing money and the Brits can sue the bank to a tune of up to £4 billion for their off-plan lost deposits refunds, as per the findings of Costa Del Sol Property Group of Spain.

Although there is no official information available yet, Costa Del Sol Property Group estimates that refunds up to £15 billion might have to be shelled out by banks to off-plan buyers from all over Europe towards their lost deposits from the financial crisis.

Some of the victims include Malcom and Maxine Ball , who had paid £100,000 for their prospective off-plan property in Costa del Sol. As per their off-plan purchase, they paid £100,000 as 50% of the total price which included additional charges and other deposits.

Brits own the maximum number of properties in Spain after the locals and hence, UK citizens were affected the most due to the sudden property crash witnessed in Spain.

With their unchallenged experience in this aspect, Costa Del Sol Property Group has formed a dedicated team for foreign nationals to help and gain their money back without any fees or irrespective if they English or not.

Money Lost Through Off-Plan Spanish Property Deposits Can be Recovered

Money Lost Through Off-Plan Spanish Property Deposits Can be Recovered

We work with the Best Lawyers that return deposits in record time

The Spanish Supreme Court have come to a decision that could give over 100,000 Brits closure after their dreams of owning a Spanish property was crushed. They have ruled that the people who lost their money by depositing it to secure an off-plan property or by making stage payments can have their money returned.

The Off-Plan property deposits in question averaged around £40,000 and were lost after the Spanish financial crisis caused the companies the money was given to to either go bankrupt or disappear entirely. This ruling holds the banks in charge of the missing money responsible for paying back possibly to £4 billion in lost deposits to Brits and other northern European purchases.

While there is no official data on the matter Costa Del Sol Property Group have estimated that up to £15 billion could be refunded to off-plan buyers across Europe as a whole who saw their money disappear after the crash.

The money will be returned to people like John Thompson and his wife Debbie. Together they lost around €75,000 trying to buy property on the Costa del Sol. The property was bought off-plan and they paid several deposits on the property of up to half of the €150,000 asking price on the property.

Costa Del Sol Property Group are one of the most knowledgeable firms when it comes to this area of the law and work with the best lawyers that know the Spanish system and have a 100% record to date on a No Win No Fee. As such they put together their own dedicated legal team to help non-Spaniard reclaim lost off-plan deposits back following a no-win no-fee basis in record time. They also have team members who are fully fluent in English.

If you know anyone who might have lost money, contact them to get in touch with us or if you think you have lost money call us or contact us today. info@costadelsolpropertygroup.com or call us on uk free phone 0800 820 138 or +34 952 493 709 for free guidance.