For the second time in a row, its tourism sector ranked as the most competitive in the world, according to the World Economic Forum, ...continue reading "Spain’s tourism industry ranked as the most competitive in the world"

Government statistics have shown that there were 15 per cent more foreign tourists in Andalucía in January compared to the same month last year.
...continue reading "Andalucía sees big increase in foreign tourists in January"

Spain has shattered its own tourism record for the seventh year in a row: 75.3 million foreign visitors made their way to the country in 2016. That’s 7.2 million more than in 2015, for a rise of 9.9%, according to early figures from Spain’s Energy and Tourism Ministry.

Visitors to Spain in 2016 shelled out a total of €77 billion, up 8.3% from 2015 figures, while average per capita spending was €1,023 for a more modest rise of 3.75%. The average daily amount spent by visitors was €138, some 6.5% higher than a year earlier.
...continue reading "Spain shattered its own tourism record in 2016"

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The Cordish Companies, a US real estate developer and entertainment operator, is planning to invest at least €2.2 billion on a Madrid resort. The complex will create more than 56,000 jobs for the regional economy, the company claimed in a presentation. The project includes hotels, restaurants, stores, theaters, cinemas, gaming areas and even a circus.

The company has already presented the project to the regional government, which is controlled by the conservative Popular Party (PP).

Resort planned by The Cordish Companies in Madrid
...continue reading "US developer planning mega-resort outside Madrid"

Eight years after Spain’s property market crashed, house sales continue to increase, with a three-year high registered in June as some 36,856 homes changed hands, up 19.5% from the same homes for sale in Torrevieja, Alicantemonth in June 2015.

Building on the growth seen in April and May, sales for the first half of 2016 were the best since 2010.

However, growth is largely restricted to five major cities and their surrounding areas: Madrid, Barcelona, Alicante, Malaga and Valencia. Total sales for the first half of the year were 207,593.

Residential construction is partly driven by foreign investment, which is pouring into developments in Madrid and Barcelona; a jump in building permits points to more growth to come. Construction and real estate accounted for more than a third of the nearly €22 billion ($24 billion) of foreign investment in Spain in 2015, Economy Ministry data shows.
...continue reading "Spain’s housing market continues to show steady signs of recovery"