It was reported in the Euroweekly News that more Spanish tourists travelled to the Costa del Sol this summer. Marbella and Estepona in particular saw a big upsurge in Spanish tourist numbers, with Estepona experiencing an increase of nearly 70% in tourists from within Spain comparing this July to July 2018.
According to the newspaper, this increase was also seen in other tourist areas on the Costa del Sol. “Marbella saw an increase of 20.9 per cent to 30,089 Spanish tourists, while Torremolinos experienced year-on year growth of 18.4 per cent. Antequera saw a 15 per cent rise, Malaga capital 13.1 per cent and Benalmadena 7.7 per cent.”
Marbella had its best July for 13 years, with a small increase in average room prices as well. Estepona experienced its busiest July on record in the town’s hotels, according to the Sur in English.
These figures are for the hotels in the area, as property management experts who help hundreds of property owners generate rental income, we have also seen an increase in Spanish tourists booking holiday rental properties. This is a great source of potential rental income for our clients, in addition to our large numbers of Northern European and British clientele. We haven’t seen the predicted Brexit effect this year, with the same amount of bookings from the UK as in previous years, so this is a very positive upward trend.
The increase in Spanish tourism reflects the improving economic conditions in the country which have been seen over the last five years or so, as Spain recovers from the financial crisis. It was reported in El Pais that unemployment fell in Spain in the second quarter, which would boost tourism and spending in general. Here on the Costa del Sol, there has been significant investment made in the hospitality sector, which is generating employment and more interest in the area from businesses and tourists alike.
This is all good news for owners of properties on the Costa del Sol who are looking to generate rental income. The holiday rental market already generates $1,437 million and is expected to grow by 4.2%, resulting in a market volume of US$1,694m by 2023 according to statista.com. We have seen steady growth in the holiday rental and long-term rental demand, as well as an extension of the typical high season and more off-peak bookings.
HomeCareontheWeb is looking for more properties to meet the demand and as property management and rental experts we can take the stress out of rentals. Please contact us to discuss renting out your property. You can also download our free guide with our secrets of successful holiday rentals to find out more about how it works and decide if it’s right for you.