Spanish Expats in UK Contribute £802 million to British Economy

Expats continue to fund the economy 

Spanish Expats in UK Contribute £802 million to British Economy

The never-ending love affair between the UK and Spain – outside of the occasional spat over Gibraltar – should be a reminder to everyone who wants to spread the idea that Europe is divided that even countries that are as “different” as these two countries have a lot of respect, admiration and love for each other.

Brits are in love with the climate, beaches, hospitality, and traditional foods and wines of Spain. Spain, on the other hand, loves the culture, history, fairness, liberal economic and working conditions and the food and beer of the UK. 

While there are certainly more Brits living in Spain than the other way around, the gap started to close with thousands of young Spaniards moving to Britain to escape the recession and find work. 

Some of those Spaniards are moving back home now the economy in Spain is improving, but data from the HMRC in the UK has shown there are still many Spaniards living in Britain and they are proving to be great for the country. 

The data showed that Spaniards contributed £802 million in taxes in 2014 while claiming only £62 million in benefits. This gave the UK economy a major net benefit and puts the Spanish in sixth place in the list of the top ten countries contributing taxes to Britain. 

France comes top of the list, with French residents paying a whopping £2.3 billion in taxes during 2014, putting them ahead of the Polish, who contributed £2.2 billion. As close as these figures are the net benefit of French expats is much higher than the Poles with a ratio of 25.6 compared to 2.4 for the Poles. This shows that Polish immigrants are more likely to claim benefits compared to French immigrants. 

Spaniards provide a net benefit ratio of 12.9 which makes them one of the best contributors to the British economy according to the HMRC data.

British Holidaymakers Spent an Average of €48 Million per Day in Spain Last Year

British Holidaymakers Spent an Average of €48 Million per Day in Spain Last Year

Brits continue to flock to the Costa del sol 

Everyone knows that Brits love heading to Spain when they’re choosing a destination in the sun. It seems the Brits weren’t content with just being the main property investors and tourist group for Spain in 2017, as they were also – sort of – the biggest spenders.

As a collective British holidaymakers were spending an average of €48 million a day in Spain, which works out at around €2 million EACH HOUR. All in all, this figure accounts for 20.1% of all tourist spending in the country in 2017. Tourism spending reached a total of €86.82 billion in Spain, with Brits spending around €17.42 billion of that.

German tourists were barely spending more than Brits pre head, but their overall €12.2 billion spent in Spain puts them below the British. The reason for this was that there were more Brits than Germans in Spain 2017, with around 18.78 million Brits and 11.89 million Germans visiting.

French and Scandinavian tourists threw another €7 billion each into the Spanish economy last year, leading to tourism accounting for 11% of the GDP for the country; meaning tourism is one of the most important industries in Spain. 

The data comes to us from the Ministry of Tourism in Spain and shows just how important it is that Spain continues attracting city breakers, sun-seekers, hikers, golfers, and culture vultures to their shores.

Overall, a total of over 81 million people visited Spain during 2017, representing an annual increase of 8.6%.

Sotogrande to Receive €50 million Boost to Infrastructure and Leisure

Sotogrande to Receive €50 million Boost to Infrastructure and Leisure

Sotogrande continues to grow with more infrastructure

The luxurious Spanish resort of Sotogrande will soon be provided with a €50 million investment as the owners of the estate – private equity funds Orion and Cerberus – aim to improve upon the reputation the resort has for being a high-class and laid-back place to live and work.

The Financial Times say that Cerberus and Orion will use the money to develop new offices, properties, and sports facilities as the popularity and interest in Sotogrande continues to rise.

Reports from estate agents in the area show that property prices are around 30% less than they were in the peak of 2007, and that home sales increased 23% year-on-year in the fourth and final quarter of 2016.

There is already a new development under construction, known as La Reserva. It will feature over 200 new villas to the outskirts of Sotogrande, seven of which have one hectare of private land.

Sotogrande is for people who want to avoid publicity. It is designed to be discreet. It’s the kind of place where VIPs can leave their bodyguards at home and feel truly free. Families go to the resort because they enjoy the open space and safety on offer.

Sotogrande certainly enjoys a slower pace of life compared to Marbella – which is just a 40-minute drive away. In recent years the resort has begun to rival Marbella in terms of stylish boutiques, luxury property, and world-class restaurants.

The resort has become famous for the harbour, golf course, and polo grounds. It continues to bring in the elite among the elite. While Sotogrande has just 6,000 permanent residents, as many as 30,000 people are housed there during the summer months.

Barcelona District Set to Trial Universal Income Scheme Worth €13 million

Barcelona District Set to Trial Universal Income Scheme Worth €13 million

People remain divided on the issue of a universal basic income. Many people feel that the idea is impractical. Switzerland recently held a referendum on introducing universal basic income – which would see every adult in the country receive money from the government each month – but the plan was rejected.

The idea lives on however, as one of the poorer regions of Barcelona is to begin a trial scheme where people on the brink of the bread line are given government grants.

The pilot scheme will roll out in the Besós district of the city. €13 million has been set aside for the scheme by the EU. The scheme will look into creative and innovative solutions to the problem of urban property. Barcelona is just one region trialling the new approach. Also getting involved are Helsinki in Finland and Utrecht in the Netherlands.

The grants are going to be available for two years, with the money going to some of the poorest people in Besós. The participants will be randomly chosen from 1,000 households with the lowest income for the district. These participants will be given between €400 and €525 per month.

There are four separate groups in all. The program officials are analysing the four groups living in the area to understand how they spend the money and how they can improve on the idea of providing funding to impoverished areas.

The people selected to participate in the program are also expected to participate in schemes looking to find long-term employment and will be expected to join social inclusion projects. The aim of the program is ascertaining what kind of difference can be made to people in low-income housing after their basic cost of living is taken care of for them.

Barcelona City Hall is looking to monitor the kind of impact the scheme will have after guaranteeing the right to housing for these people. The scheme is intended to revolutionise the current fight against urban poverty, taking it to new places.

It aims to see how poverty can be reduced by providing universal economic support alongside access to a range of services including housing, education, community participation, and working.

The ultimate aim is to create an efficient welfare state not just in Spain, but across the whole EU. The people behind the scheme deserve a round of applause for coming up with such an innovative method of reaching out to the poor people of Spain and finding new ways to understand them and their situation.

15.5 Million Tourists Expected to Reach Malaga Airport in Bumper Summer

15.5 Million Tourists Expected to Reach Malaga Airport in Bumper Summer

Malaga Airport – the airport serving the Costa del Sol – is set to see more records broken in 2017, according to the director of the airport Salvador Merino.

Its predicted to be another record breaking year

The airport recorded some 16.6 million passengers last year, and this year the director is predicting that 15.5 million passengers could enter the airport during just the summer months of this year; leading to a total of over 18 million passengers by October.

The airport director did admit that there were several factors that could affect the demand, but he also revealed around 90,000 flights are expected between the summer months of May and October, which is around 500 flights per day.

Several tour operators are analysing the trends from the start of the year, leaving them just as hopeful for another bumper summer season for Spain. Malaga airport is welcoming more flight routes and flight times to deal with the demand which is coming from not just the UK, but also from Belgium, Scandinavia, and the Netherlands.

The Malaga airport will serve a record 126 destinations by the summer, with 62 of these locations based in the UK (an increase of 9% over 2016), which only highlights the fact that Brits make up the bulk of foreign tourism and are the most predominant second-home owners in the Costa del Sol.

Malaga has also seen a 20% increase in connection routes to Germany and Italy in the past year, a statistic highlighting the growing popularity of Spain around the whole of Europe. Data published in February shows that Malaga airport welcomed some 867,382 passengers during January – an increase of 18.4% over January of 2016.

Marbella Home of X Factor Judge on Sale for €40 Million

Marbella Home of X Factor Judge on Sale for €40 Million

fresh-faced here in 2010,One Direction auditioned at the

Marbella villa when Simon Cowell was their X Factor mentor.

Cast your mind back to 2010 and you’ll remember when the fresh-faced One Direction auditioned for their X Factor mentor Simon Cowell in his Marbella villa.

This now famous villa, where many dreams have been made and broken over the past decade, is now on sale and can be yours for around €40 million.

The property, situated along the coastline of the Costa del Sol between Marbella and Fuengirola, has impressed millions each year thanks to the stunning views, bountiful gardens, incredible interiors, and swimming pools.

What made it most famous was when it became the location of the first successful audition of boyband One Direction. It has gone on to become the birthing place of many X Factor success stories.

Now though the home is going up for auction and whoever gets it will have quite a treat on their hands; the property is on a 7,000 square metre plot, comes with complete views of the Mediterranean, along with tennis courts, indoor and outdoor pools, gardens, and a dozen en-suite bathrooms. Even the bathrooms have a stunning ocean view.

The home could certainly be considered one of the jewels in the crown of Marbella, but it’s hardly a unique site in the region. There are many such luxurious villas in the Costa del Sol; the place where privilege meets privacy.

What makes the property unusual is that it is not on the Golden Mile between Marbella and Puerto Banús. Instead it can be found further along the coastline in a quiet area close to Eliviria. That’s why it offers more in the way of privacy than your average mega-villa in Marbella, and why it has a larger price tag.

Given how much success One Direction has accomplished since that fateful day in the villa we wouldn’t be surprised if one of them tried to purchase it.

However, the property is a little out of reach for anyone who isn’t super rich given the €40 million price tag. The good news for Simon Cowell is that the super-rich can always be found in Marbella.

Brits Spend Over €74 million a Day In Spain During August

Brits Spend Over €74 million a Day In Spain During August

Tourist spending has been at an all time high.

Brits really dug deep into their pockets during August;spending money on drinks, food, shopping, and hotels.

If people still doubted that British were vital to the Spanish tourism industry then the recent statistics from the tourism ministry will remove those doubts. The latest data shows that British tourists accounted for 22.3% of the tourist spending in August.

This came to a grand total of €2.3 billion spent by Brits throughout Spain during August, or €74.6 million each day. This works out at around €116 per person, per day.

This data is a reflection of the strong tourism trends of Spain in 2016. All the indications are that Spain will see record visitor numbers in 2016. Though for the brits this is just a continuation of the decades-old trend. It just shows that Spain is still deep in the hearts of many UK holidaymakers.

The Spanish economy was boosted by an extra €334 million each day thanks to the tourism in August. As well as Brits the French and German tourists were spending their fair; making up roughly 14% of the tourism spend for August.

Brits spent an overall 3.5% more this August compared to last year, while German tourists spent around 0.2% more and French tourists spent a whopping 9.1% more.

The only downside to the news was that average spending per person was actually down a little compared to 2015. The average tourist spend was €116 per person, which is down 1.9% compared to last year when compared against the average time that people spent in the country.

Even though more people are coming to Spain they are spending slightly less over last summer. This is really only a tiny negative mark on what has otherwise been an incredibly positive Spanish summer season though.

Regions across all of Spain are celebrating as most places are reporting record highs in terms of tourism spending. Tourists have currently spent €53.3 billion so far this year in Spain, which is 7.1% higher than last year. A statistic to put everything into perspective is that Spanish tourists spent more in the year leading up to August than they did in all of 2012, and there’s still four months of 2016 left.

The Brits still make up the bulk of the spending in the first eight months of the year. Brits accounted for 21.1% of all spending; an increase of 11.8% over 2015.

Zara Boss Buys Madrid Skyscraper for €490 million

Zara Boss Buys Madrid Skyscraper for €490 million

Zara is the flagship brand, and supremely profitable

One of the most iconic skyscrapers making up the modern skyline of Madrid is the Cespa Tower. The richest man in Europe, Amancia Ortega knows something about making smart investments. Ortega founded the global fashion group Inditex, the company behind the shopping brand Zara, and he became the richest man in Europe through his business sense and ability to find a great deal.

This week the Spanish real estate sector saw him scoop up another good deal as he got his hands on the Cespa Tower for €490 million.

The Cespa Tower is one of the four towers that make up the Madrid skyline. Before Ortega bought it the skyscraper used to belong to Khadem al-Qubasi; an oil tycoon from Abu Dhabi.

Ortega has been growing his property portfolio and added the Cespa Tower to it after making arrangements for holding company Pontegadea Immobiliaria to make the purchase through Spanish lender Bankia.

The Cespa Tower is just the latest building in Ortega’s portfolio of impressive real estate in impressive locations. Ortega also owns property on Oxford Street and Mayfair in London, along with prime real estate in Seoul and New York.

Ortega is quite sly in that he actually rents out some of his properties to one of his rivals in H&M. Currently no one knows for sure what he plans to do with the Cespa tower.

The Cuatro Torres complex located in downtown Madrid is made up of a myriad of hotels, office and retail space, along with some private residences. There’s no need for any rental tenants to be worried though. They’re clearly in good hands with a landlord like Ortega.

July Saw 9.6 million Tourists Visit Spain, With One in Four Being Brits

July Saw 9.6 million Tourists Visit Spain, With One in Four Being Brits

Spain is Booming again with record numbers of Tourists

and the property market making a marvelous recover.

Records continue to be broken in Spain. With the cost of living being so low and the healthy lifestyle and warm climate. The country has recently seen its busiest July ever as the official government figures confirm that over 9.6 million tourists came to the country during the month.

This figure is an impressive 11% increase over last July and continued the trend of 2016 being a record-breaking year for Spain, with many of these records being broken thanks to the Brits.

One quarter of all the registered tourists in Spain in July came from Britain and were part of the largest shifts in tourism seen in years. Egypt, Turkey and Tunisia have seen a spate of terrorist attacks that have seriously driven down tourism numbers. Instead these millions of tourists are heading to safer destinations such as Spain and Bulgaria.

Barcelona, the Costa del Sol, and the Balearics and Canary Islands saw the biggest rises in tourism numbers. Majorca is also currently fully booked through the end of September according to the data.

The final tourism figures for August aren’t known just yet but the Association of British Travel Agents (ABTA) are predicting a 25% increase in visitor numbers for the month. Turkey has seen a 30% drop in tourism while Egypt has seen a 60% decrease. Tunisia has barely seen any tourists at all following a beach attack from 2015 that saw over 30 Brits gunned down.

The president of the Spanish Travel Agents and Tour Operators Association Rafael Gallego says that around 15% of the tourists that Spain welcomed would not have come to the country if it wasn’t for other destinations like Egypt and Tunisia closing down due to these tragic events.

While the country is always open to more tourists many in Spain feel that 2016 could be the peak of Spanish tourism unless new accommodation; such as hotels and apartments, are built soon.

The Spanish construction industry is already gearing up torise to the challenge, with house building reaching heights not seen in over 5years. Foreign developers are also keen to begin building real estate and hotels in the more popular regions of the country.

Things are also improving on the consumer level. Department store El Corte Inglés are reporting that they saw a 25% increase in sales over the last year. Fears before and after the Brexit about the value of the pound saw many Brits book all-inclusive packages to essentially lock in the price of their Spanish Holiday. Thomas Cook is reporting that six out of ten of the holidays they sold in Spain were all inclusive.

An ABTA spokeswoman said that the around 20% of all the Brits who go on holiday abroad now go to Spain. This means that one in five Brits who left the country to go on holiday went to Spain.

Spain Expects 74 Million Tourists in 2016

Spain Expects 74 Million Tourists in 2016

The Madrid-based tourism agency Exceltur has claimed they expect Spain will see 74 million tourists in all through 2016, which would decimate the record of 68 million visitors set last year.

The Costa del Sol is Booming and goes from strength to strength.

As the summer season truly kicks in the leading agency for tourism in Spain believes that Spain will end up being the most popular tourist destination of 2016 following the terror attacks in tourism rival France and the continued safety concerns of other formerly popular tourist destinations along the Mediterranean.

Portugal is also expected to see a rise in tourism of about 30% as tourists are choosing the safer areas on the Iberian peninsula.

While it’s true that nowhere is truly safe from terrorism Spain hasn’t seen a terror attack in around 12 years and their intelligence department is one of the best in Europe. Overall Spain is definitely the place to be for the more nervous holidaymakers that are looking for a safe space in the sun.

The amount of money visitors are spending in Spain has already gone up 7.8% per head in 2016 which is suggesting that the improved European economy is having a positive effect on tourism itself. It looks like tourists are more willing to open their wallets and spend their money.

The bulk of Spanish visitors continue to come from the UK, Germany and Scandinavia. Even so Exceltur is expecting the country will see a rise in French tourists as people are leaving the country for their holiday for the first time in a long time; having been driven away from their own French resorts by the shadow of terrorism. It’s also expected there will be a rise in tourists from the Eastern end of Europe including Hungary, Poland and the Czech Republic.

Most people come to spain due to it being one of the safest places in Europe and having fantastic beaches  low cost of living, world class Mediterranean lifestyle and a temperature that averages over 20c, no wonder Spain and the Costa del Sol is so popular with tourists and property buyers. 

Spain attracts 1.4 million British tourists in April

Spain attracts 1.4 million British tourists in April

When compared to the statistics, the British tourist inflow to Spain increased by 18.3% in April.

Although people initially anticipated that Spain will see lesser tourists this April as the Easter holidays fell in March this year instead of April, the results regarding tourist info in Spain were surprising as per the statistics published by the central government of Spain, which indicate it to be otherwise.

In tandem with the number of tourist inflow from UK, international tourists from other countries to Spain also increased and the total tourist inflow stood at over 6.1 million, which is a 11.3% increase when compared to the statistics of the previous year. Every one among four international tourists who visit Spain is from UK and the number of tourists from UK also found a steep rise as it rose by 18.3% to 1.4 million. Tourist inflow from France and Germany also increased, but it did not increase as much as the tourist inflow from UK did. Tourists from France stood at 1.09 million, which was a 14.4% hike when compared to the previous year and the total tourists from Germany increased by a mere 2.9%, taking the total to 876,000.

The fourth highest foreign tourists to Spain were from Scandinavia, with the count being 408,500. Netherlands occupied the fifth spot this year, pushing Italy below and the increase of tourists from Netherlands was a whopping 37.4%, which corresponded to 322,000.

The total number of tourists from UK visiting Spain since the starting of 2016 increased by 19.4%, taking the count to 4.04 million, which attributes to the overall 13% hike in the foreign visitors. In total, Spain has attracted 18.1 million tourists till April. Tourists of Irish and Dutch origin have increased significantly this year, and the rise is 25.6% and 25.5% respectively.

The cumulative total of France and Germany are the second and third highest, which stands at 2.67 million after a 9.5% increase in the case of France while the count increased to 2.61 million or 6.7%, in the case of Germany.

Within Spain, the most preferred destination among foreign tourists in April, the month in which there is a transition from winter to spring, changed from Canary Islands to Catalunya. Nearly 25% of the foreign visitors preferred to visit Catalunya in April and the second preferred destination was Canaries, which stood at 17.5%, followed by Andalucia at 16.4%, Balearics at 12.6%, Comunidad Valenciana at 10.5% and Madrid at 9.1%.

The increase in the percentage varied from 2.5% to 17.7% spread across the 17 popular tourist destinations of Spain.

The significance of British tourists to Spain is clearly evident in the recent bulletin they had published. In most of the regions, UK was the major supplier of foreign tourists and the British were also among the second most tourists to other regions. It was only in the case of Madrid that UK did occupy neither the first nor the second places. However, this can be justified by the fact that people traveling from different continents prefer to stay in the capital of the nation they visit rather than any other place.