Music Experts Believe Despacito Could Boost Spanish Language Uptake

It’s hard to put into words just how addictive Despacito by Luis Fonsi and Daddy Yankee has become. This global music sensation became the first song ever to reach over three billion views on YouTube, and is hard to get out of your head once you hear it.

You might be surprised if you think that you’ve never heard the song yourself, as there are millions of people who feel that they haven’t heard it yet, only to be hit with a wave of recognition when they actually do hear the song.

There appears to be some new worldwide smash each summer, but Despacito has a unique appeal and language that gives it untold popularity and reach. The song is primarily in Spanish, which makes it the first Spanish-language song to reach the top of the US Hot 100 for over 20 years. If you guessed that the last song to do this was the Macarena in 1996, then give yourself a pat on the back.

While the lyrics of the song are so fast-paced that most people who don’t know the language will be mouthing along, music experts feel that the global reach of the song could positively benefit the Spanish language, which is already the second most popular language in the world after English.

Despacito was the most-streamed song on the music streaming platform Spotify each day for fourteen weeks straight, before finally being surpassed just last week by the song “Mi Gente” (My People), which just so happens to be another Spanish song. Mi Gente is by J. Balvin and it looks like it could go on to be another global success.

This isn’t all either; there are currently eight Spanish or Latin songs in the Spotify Top 50 right now, which the company says is the highest proportion ever. The head of Latin Culture at Spotify, Rocio Guerra, believes that there has been a domino effect. Spotify – and similar platforms – give everyone around the world access to the same songs at the same time, so it’s increasing the global reach of Latin artists.

Guerra believes that the more songs there are on the global chart, the more people become accustomed to listening to songs in different languages.

Latin as a genre is third on the Spotify streaming chart, coming behind pop and hip-hop. Latin-style music – and an increase in smatterings of the Spanish language itself – are becoming more popular in songs as well; utilised by artists such as Rihanna and Ed Sheeran.

After the Macarena exploded in 1996, there was a sharp increase in the demand for Spanish courses among language schools. There’s no data yet to show if Despacito has had the same effect, but there are plenty of signs the song has opened the ears of millions of people to the unmistakable beauty and rhythm of the Spanish language.

Spanish Population Rises for First Time in Five Years

Spanish Population Rises for First Time in Five Years

The incredible recovery of the Spanish economy has begun to have an effect on the immigration statistics for the country, as 2016 marked the first time since 2009 that the population in Spain increased. 

The Spanish population increased steadily at the turn of the millennium until 2009, whether through positive birth rates or inward immigration.

However, Europe – and in particular Spain – was hit by an economic crash in 2008 that stemmed the tide. The population stagnated in 2010 and steadily fell each year thereafter as young people held off starting a family due to the uncertain economy, and immigrants decided to try their luck in other countries. 

The tide turned in 2016 however. Data released by the National Institute of Statistics (INE) revealed the number of immigrants registering in Spain was on the increase, showing that last year saw 89,126 more people enter the country than leaving it. 

The highest number of arrivals in terms of nationality were the Venezuelans, particularly those escaping the economic hardship and the potential persecution they faced at home. Numbers of immigrants from Romania and Morocco also increased following the improvement of the Spanish economy. There was also a slight increase in the number of Brits arriving in the country, but a decrease in the number of Swiss and German immigrants. 

Even though domestic fortunes are improving, the amount of Spaniards emigrating out of the country also increased in 2016. The primary destination for these Spanish immigrants remains the UK, where they have a high chance of finding work and improving their English skills, which makes the country a strong draw.

Santander Sells €10 Billion worth of Spanish Property

Santander Sells €10 Billion worth of Spanish Property

Spanish Property is for sale contact us for the best bargins

The Spanish real estate industry has been moving at a brisk pace for the past 24 months at the very least, as the residential housing market in particular has been boosted by the activity – and cash – of private buyers.

For the longest time though, following the crash of 2008, the biggest portfolio holders in Spain have been the banks – forced to clean up homes and offices left behind by people and companies defaulting on their mortgages following the credit crunch.

Banco Popular in particular became the largest landlord in Spain in a matter of months, becoming the owner of around €30 billion worth of real estate at pre-crash prices.

The financial troubles of Banco Popular are well-known however, and the bank was recently bailed out by another Spanish bank, Santander. This week saw the anticipated – but still surprising – move of Santander selling all of their property for €10 billion to the Blackstone Investor group out of the US.

This property portfolio includes hundreds of houses, apartments, and hotels, along with plenty of land. Analysts believe that the property has lost around two-thirds of its value since 2008.

Now the property is in the hands of the proactive and committed Blackstone Group, who have long-since seen Spanish property as a profitable, long-term investment. People in many quarters are celebrating the sale as it is another indication that people are becoming more confident and enthusiastic about Spanish property.

As well as in increase in transactions for resale properties, residential construction across Spain is increasing, with much of the activity driven by foreign investment.

Reuters released data that showed around a third of the €22 billion invested directly in Spain in 2015 went to construction and realestate, and it’s expected that this figure will increase for 2016 and 2017 following the release of official data.

Spaniards Return Home for Property and Jobs

Spaniards Return Home for Property and Jobs

The Spanish revival continues with spain being

the best place to live in Europe  

The Spanish population is growing for the first time since 2011, increasing to 46.58 million at the start of 2017, according to the latest data from the Institute of National Statistics (INE).

The reason for the boost is three-fold; an increase in new births, a rise in expats and immigration and – perhaps most significantly – Spaniards returning home after leaving during the tough years of the recession, coming back to enjoy the strengthening Spanish economy.

The increase in new births is a clear signal that the youth of Spain are becoming more confident in their own financial situations, while it’s expected that immigration will rise as the economy grows.

But the biggest impact is coming from the amount of Spaniards returning home. IT’s estimated that over 50,000 Spaniards came back to the country between the first of January in 2016 and 2017. With them comes plenty of positives for the property and job markets of the country.

In the 12 months between the start of 2016 and 2017 for example, the population of the country grew by 89,000. However, there were 375,000 new jobs created in this time period, meaning that with 18.8 million people working in Spain the figuree is the highest it’s been in seven years.

Another important fact is that the employment boom is being seen in more stable industries than before – in the times when the credit bubble burst and destroyed the economy. The increase in jobs across 2017 is being seen in several industries including agriculture, construction, and hospitality. There has also been an increase in the demand for skilled workers.

Changes in Spanish population have typically correlated with changes to GDP since 2008, when both figures plummeted before rising a little in 2010 and sinking again in 2013. The GDP has risen steadily since then, even if the population figures took a little longer to catch up.

The trend is clear for now however; thousands of the young Spaniards who left Spain to make their lives in the UK, Germany, and across Scandinavia are returning home – better for their time away, with more financial stability and an eagerness to contribute to the continued recovery of the Spanish economy.

Javier Díaz Giménez, professor of economics at IESE Business School in Madrid believes that the economy is growing strongly and is much more balanced than it was back in 2007. The labour market by be evolving all the time, but there is no doubt that plenty of jobs are being created across the board.

The return of confident and willing workers is being felt in more than just the job market. The Spanish property market has also been expanding in an encouraging manner for the past three years now, complete with a noticeable increase in domestic buyers across the past 18 months.

Data Shows Spain Made €60 billion From Tourists Last Year

Data Shows Spain Made €60 billion From Tourists Last Year

Spain broke all tourism records in Europe 

The latest data from the UN World Tourism Organisation (UNWTO) shows that tourism provided the Spanish economy with €60 billion across last year – which is more than for any other country except for the USA.

The difference is that Spain’s tourism numbers are growing, while America’s are contracting following the election of President Donald Trump. Not only is Spain’s tourism industry growing, but it’s growing at a rate higher than any other leading destination.

The figures from the UNWTO show that the US received €173 billion from tourism in 2016, which makes it the clear winner. Spain came in second, followed by Thailand and China for tourism revenue.

The UK – which came in third place in 2015 – dropped to seventh. The country made €29 billion from tourism, which is the lowest figure for some time. Experts believe that the Brexit – and the effects of the decision – are to blame for this drastic drop.

An interesting figure is that of France, which came in fifth place for tourism revenue in the world in 2016, even though UNTWO figures suggest the country received the highest overall number of visitors. This would suggest that people visiting France do so fleetingly; whether it’s because they are passing through the country on their way to other neighbouring countries, or just because they stay for a few days.

France topped the charts of overall visitor numbers thanks to some 82.6 million visitors across 2016. The US came in second with 75.61 million tourists, followed by Spain with 75.56 million visitors.

What is interesting is how quickly change is happening and the directions of the change. American tourism dropped 3% between 2015 and 2016, and continues to fall across 2017. France saw a 2% drop between 2015 and 2016, and it’s expected the fall will be greater this year following recent terrorism threats.

Spain, however, saw an increase in visitor numbers of 10% across 2016, and all the signs are there for an even stronger 2017; which could leave Spain clinching the top spot by the end of the year.

Average Spanish Property Values 2.3% Higher in June Compared to Last Year

Average Spanish Property Values 2.3% Higher in June Compared to Last Year

Costa del sol continues to be a great investment 

Data on the price of Spanish property from valuation firm Tinsa shows that the average selling price of property in Spain was 2.3% higher this June compared to June of last year, bringing the streak of monthly increases in house prices to 10 straight months. 

While the data from Tinsa doesn’t go into the actual average property price for each region, it does show the largest increases in prices are found in the coastal regions and major cities. The average property price for regional capitals was 4.2% for example, which is above the national average. While property prices increased an average of 2.4% across the Mediterranean coastline. 

When analysing the average house price across the first half of 2017, Spanish property prices were up 2.8% compared to the first half of 2016, with island property prices seeing the sharpest increase at 7.2%. 

The price increases will no doubt be welcomed because they are gradual and steady. There hasn’t been a price shock, spike, or crash across the past 18 months plus. It’s just been a consistent increase in demand, which means a consistent increase in price. 

These factors are giving economists and property experts alike plenty of encouragement. They can see for themselves an industry with plenty of foreign investment and a growth in domestic interest, as well as increasing confidence from businesses and lenders. 

This is the reason for the 2.4% increase in building licenses across the past year. It’s also why actual sales increased 23% year-on-year as of May, and mortgage approvals increased 10.4% in April – a figure that correlates with the decrease in unemployment as Spanish unemployment has fallen 10.7% across the past year.

Spain Set for Fifth Consecutive Annual Increase in Tourism

Spain Set for Fifth Consecutive Annual Increase in Tourism 

Tourism continues to break all records 

Spain is set to smash through the tourism figures of last year, which would mean Spain will register five consecutive years of annual increases in visitor numbers according to the latest data from tourism industry group Exceltur. 

The group is forecasting that tourism in 2017 could increase 4.17% over last year, which translates to around 80 million tourists heading to Spain. 

Over 75 million tourists headed to the Spanish sun last year, and Exceltur’s estimate is higher than the current 3.2% estimated increase. The upgrade comes as a result of a better-than-expected spring and Easter season, as well as a fine beginning to the summer season. 

Exceltur commented on their reassessment of Spanish tourism figures, saying that the change came as a result of strong increases in foreign demand. 

Spain has been a perennial favourite destination for summer package holidays, but the growing reputation the country has as a hub for weekend breaks in the city is having a strong impact on the numbers. Cities across the country recorded record numbers of overnight stays during the first half of the year, with some 2.7 million visitors staying overnight in Madrid alone between January and May; an increase of 19% over 2016. 

Barcelona has always been popular of course, but now other cities such as Valencia, Bilbao, Malaga, Cordoba, and Seville are seeing increases in popularity. The Vice President of Eceltur José Luiz Zoreda believes it is the combination of climate, accessibility, and perception of safety – following the recent terror attacks of London, Paris, and Berlin – that makes Spain so popular and attractive to tourists.

A drop in tourism across other countries has seen an increase in Spanish tourism. Exceltur estimates Spain is “borrowing” around 15 million tourists that would otherwise have visited countries such as Egypt, Turkey, Tunisia, and France. 

In terms of nationality, Brits are still the most dominant tourist group, prompting Zoreda to suggest that the “Brexit effect” is something that just isn’t being felt in Spain. The number of American visitors has increased 19%, while there has been a massive increase of 35% in Asian tourists; most of whom come from China.