Govt to boost spanish tourism property

The Industry and Tourism Ministry in Spain have announced their decision to inject £537  million into the country's tourist infrastructure...

The Government has already provided £358 million for the modernisation of ageing hotels and other holiday accommodation to assist them in keeping up with more up-to-date establishments in popular sunny resorts. Now a further boost of £537 million for Property in Spain is to follow.

One of the Government's aims is to make jobs available to huge numbers of out-of-work construction workers who lost their livelihoods after the real estate collapse of 2008.

In fact the Spanish tourist industry accounts for 11 per cent of jobs and the Gross Domestic Product in the country as people from abroad are attracted to its sunny Southern coasts.

France is the top choice for tourists but sunny Spain is a close second.

The Ministry made the following statement, "The granting of 100 per cent of the planned credit in such a short period of time is evidence that the modernisation of tourism infrastructure is a key demand of the sector."

Industry and Tourism Ministry figures from last month reveal that 2.6 million foreign tourists visited Spain, a decline of 10.1 per cent from last year. The decline in tourism is partly due to the recession and the decrease in value of the pound.

Britain provides the greatest number of tourists to Spain. Last year saw a significant decline in British tourists but the situation did begin to improve in January.

Source: www.hotproperty.co.uk