Easter heralds a record year.
Forecasts of a busy Easter in Marbella have proven to be on the mark after hoteliers and council officials reported full occupancy in up to 80% of establishments over the long weekend. Singled out by holidaymakers in the first important week on the tourist calendar was the luxury segment of the market, where five-star hotels and resorts showed 80% occupancy from Palm Sunday and many hung up the ‘no vacancy’ signs from Thursday onwards. The effects of this influx of visitors also benefited Marbella’s bars and restaurants, according to the town’s Councillor for Tourism, Miguel Luna, who said: “Forecasts have not only been met, but the predictions of very high occupancy levels from now until the end of October look set to be confirmed.” High-end tourism promotion for Marbella Marbella council’s focus on promoting high-end tourism in foreign markets over the past few years would appear to be paying off, with reports suggesting up-market marina Puerto Banús has been particularly busy so far this year. President of the Association of Businesspeople and Professionals (Asociación de Empresarios y Profesionales) of the marina, Giuseppe Russo, told Spanish newspaper Diario Sur: “There has been a definite rise in trade in the luxury sector—certainly bars have recorded a large increase in trade this Easter compared to last. A highlight has been the increased presence of English and Dutch customers. The hotels have had an excellent result, with very good levels of occupancy.” This highly encouraging start to the tourism season confirms forecasts of another record year for the industry—the past two years both broke records for visitor numbers—may well be on target. UK tour operators’ organisation ABTA recently announced that bookings to Spain were up 27% for the summer, with operators in Scandinavian countries reporting similar figures. €9billion tourist spend in Andalucía The importance of the tourism industry to not just resorts such as Marbella, but to Andalucía and Spain as a whole can not be underestimated. Last year 68.1 million people visited Spain, spending €67.38 billion in all. More than €9 billion of that was in Andalucía, the majority in coastal resorts like Marbella. This figure is roughly equivalent to 11% of Spain’s entire economic output and also made Spain the third most visited country in the world. With economic indicators forecasting increasing growth, it can be expected a blossoming economy helped by record tourism will have a beneficial effect on the real estate market too, which has been on an upward trend in Marbella since 2013 and is now being followed by the rest of Spain. Notaries recorded a 26.6% rise in property sales in January compared to the same month in 2015, mortgage approvals have risen by up to 30% and according to Eurostat construction in Spain has increased by 20.3% in January over the same month the previous year. Altavista Property expects these figures to improve as the upward trend—particularly in hotspots such as Marbella—gathers apace in tandem with the economy. Should you be looking to invest in real estate in the town please contact us. We have many years’ experience in property in Marbella and surrounding areas and are only too happy to advise you.
