Whether we like it or not, tourism to Spain boosts the economy and sways the property market, writes Amanda Butler

, Whether we like it or not, tourism to Spain boosts the economy and sways the property market, writes Amanda Butler, Hottest World News | Travel Wire News

Palma de Mallorca

ONE minute the Mallorca press and general populace are full of alarm and despair about the level of tourists arriving on the island, and the next there’s concern about a downturn…can you please make up your mind?

According to the state flight control center AECFA, there is a marked downturn in air and passenger traffic at present, expected to continue through September, with an average decline of 8% to date.

I would have thought that should bring a smile to all those alarmists previously concerned about overcrowding?

However, looking at the downside, this naturally leads to a reduction in hotel bookings, reportedly around 30%, and all other tourist related industries including restaurants, bars, shops, etc.

Let’s face it, tourism is a major revenue stream for a large percentage on this island – it being a key European holiday destination.

Tourists in Mallorca

Perhaps our hoteliers will need to start adjusting their hotel rates to be more competitive…just saying!  

This inevitably affects property sales, although more so at the lower end of the market – this of course differs from agent to agent.

Some agents I speak to are having a bumper year, others not so.

For those following my article from the last edition, well my ‘fantasma’ has still not yet committed to a date, now supposedly coming towards the end of July, or beginning of August.

Meanwhile two other clients I am expecting, have also delayed their visits – I’m hoping they aren’t going to all arrive at once, or when my brother arrives for his annual holiday with his daughter. Neither is ideal!

So whilst I wait I am focusing on expanding my property portfolio, so if any of you reading this article have any nice properties to send my way, please do get in touch.

For any questions or if you require assistance with selling or buying a property you can contact Amanda on [email protected]