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July 19, 2016

Foreign tourism in Spain has increased markedly in 2016

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Foreign tourism in Spain has increased markedly in 2016

A marked increase in tourism demand of foreigners in 2016 has allowed starting the holiday season earlier than usual in most holiday destinations of Spain, besides of contributing to the creation of some 90,000 jobs in the tourism industry, which is concentrated mainly in coastal areas, with many beaches and a lot of sun. This is evidenced by the official report prepared by the official tourist association Exceltur, entitled "Evaluation of activity in the second quarter and expectations for the summer of 2016".

This trend has led to an increase in the results of the Spanish tourism companies, and more particularly, of hotels and coastal tourist resorts, which recorded their best result in the second quarter of 2016, due to a marked increase in the arrival of foreign tourists to Spain. Revenues according to the calculation of the profitability of a hotel room (RevPAR) in the period March-May 2016 increased by 16.2%. This allowed that 60.8% of hotel-type facilities improved their performance.

This trend has led to an increase in the results of the Spanish tourism companies, and more particularly, of hotels and coastal tourist resorts, which recorded their best result in the second quarter of 2016, due to a marked increase in the arrival of foreign tourists to Spain. Revenues according to the calculation of the profitability of a hotel room (RevPAR) in the period March-May 2016 increased by 16.2%. This allowed that 60.8% of hotel-type facilities improved their performance.

As for hotels in the Spanish cities, which are following the tendency of recovery in prices and occupation, have registered a more moderate income increase in the calculation of the profitability of a hotel room. The report of Exceltur association also noted a marked difference between the results of the hotels, located in coastal areas and specialized in external demand, which recorded a growth of income of over 10%, with those located on the mainland, with modest improvements.

With regard to the possible effects of the exit of Great Britain from the European Union (the so-called "Brexit") for the Spanish tourism sector, according to José Luis Zoreda, the vice president of the Exceltur association, "in the second quarter of 2016 no influence of the British referendum was recorded, and it is only expected that it will have a negative impact on the country's GDP to -0.1% at the end of this year, due to the new situation of the UK and its citizens". Zoreda also adds that "the reason is that, in terms of cost Spain occupies a privileged position for British citizens." In addition, the vice president of Exceltur also indicates the perception of Spain as a safe place after the recent terrorist attacks in Europe, as another possible reason for the impact of "Brexit” on the Spanish tourism sector.

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