Inbound tourists to Spain spent a total of €9.01 billion in Q1 2012, an increase of 7.4% over the same period in 2011 according to the Tourist Expenditure Survey conscripted by the Institute for Tourism Studies of the Ministry of Industry, Energy and Tourism.
While the survey identified that in March 2012 alone, inbound tourists to Spain spent €3.61 billion representing 11.9% more than in the same month of 2011, it also highlighted that the biggest contributors to tourist expenditure in that month were British tourists who spent a total of €631 million euros in the month, a 10% increase over 2011.
Marc Pritchard, Sales and Marketing Manager of leading house builder Taylor Wimpey España comments:
"We are not surprised that tourist spend in Spain is on the up - in spite of the economic doom and gloom Spain will always be a top choice for tourists. Indeed, the pound is now at its strongest against the euro in nearly 2 years reaching an exchange rate of £1:€1.20 meaning that British families have more money to spend.
"Indeed, Q1 2012 has been rather successful for Spain with British and German bargain hunters choosing the nation as their top holiday and second home destination. Searches on Hotels.com U.K for hotels in Spain for example increased by 106% in Q1 2012 over the same period last year and we at Taylor Wimpey España have actually seen a 21% increase in the number of units sold between January and April this year over the same period in 2011 with Brits still remaining our biggest buyers."
Spain is still considered one of the most reliable and established markets for property buyers with Mallorca remaining one of the most popular destinations.
The Balearic islands' economy still remains buoyant thanks to a thriving tourist industry which, despite a few variations in the past year, has hardly felt the burn. As a result, the latest census from the Spanish National Statistics Institute has identified that there are officially 23,773 Britons now living on the island with foreigners now representing 21.6% of the population - the highest concentration of overseas residents in Spain.
Marc Pritchard comments:
"Mallorca has always been a firm favourite - it's easy to get too, offers sunny days and the most beautiful scenery. To highlights its popularity Lowcostholidays.com has recently identified that Mallorca is the number one destination for people over the Jubilee week, registering a 60% increase on 2011 and Palma de Mallorca voted one of Spain's Top 10 Destinations in Trip Advisor's Traveller's Choice awards 2012."
