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Costa del Sol: A Place to Make a Home (Part II)

In our previous blog post, we discovered what makes the Costa del Sol so attractive for holidaymakers and homebuyers.

The Malagueñan coastline has always been a European favourite, known for its charming residents, exquisite eateries, luxury hotels and spas, challenging golf courses and popular beach clubs.

The Costa del Sol has seen 2016 and 2017 break tourism records, and these numbers are expected to rise again in 2018. Spain’s property market has a strong influence from international buyers, many of which have begun their journey to their new life during an overseas visit to the Spanish Riviera.

How Does Tourism Affect Spain as a Nation?

Spain has been a nation that’s thrived on tourism ever since the end of Francisco Franco’s dictatorship in 1975. While holidays in Benidorm first became popular in the 1960s, the rest of the nation, including the Balearic and Canary Islands, has seen an increase in tourism since the dictator’s death, and is now one of the world’s most popular destinations.

Today, Spain’s tourism industry is one of the largest industries in the nation. With 82 million tourists throughout 2017, tourism contributed 11.5% to Spain’s economy, €134 billion, boosting it by 5.7% from the previous year.

The tourism industry is also one of Spain’s biggest employers, with over 15% (over 2.8 million) jobs being dependent on tourism. Last year alone, a further 77,500 jobs were created in the tourism industry to accommodate the influx of visitors - more than any other sector.

What About Tourism in Andalusia?

During 2017, Andalusia saw the highest percentage of tourists, with some 29 million visitors throughout the year.

In January 2018 alone, Andalusia welcomed over 4.1 million tourists to the region, and the overall year-long number is expected to exceed 30 million tourists. January’s numbers alone are a 5.2% increase on tourism in the region during the first month of 2017.

With endless golf courses, beautiful beaches, friendly locals and historic cities, it’s easy to see why Andalusia is the favourite region for foreigners to visit.

What Attracts Holidaymakers to Andalusia?

Andalusia is one of Spain’s seventeen Autonomous Communities and is the second largest in the country. However, no other region offers the variety of scenery that the Southernmost community does.

Depending on what your interests are, there are endless places to visit in Andalusia. There are big, historic cities with endless shopping destinations, glamorous nightclubs, exquisite eateries, beach clubs and museums. But Andalusia is much more than historic cities and sandy beaches, as it’s also known for its natural beauty, offering small farming hamlets, deep forests, flowing rivers and endless mountains and hiking trails.

Andaluces, as the Andalusian population is referred to, welcome tourists to their beloved region, recognising the industry as an opportunity, not only of wealth, but also of employment and an opportunity to learn about the different cultures that visit them throughout the year.

Spain, as a whole, is known to be one of the world’s most tourist-friendly nations, but there really is no other region in Spain quite like Andalusia. From mountains to olive groves, modern architecture to ancient palaces, and vast plains to rolling countryside, Andalusia really does have it all.

For more information on the Costa del Sol and what attracts millions of tourists and foreign homebuyers, please read the first part of this blog.

How Does Tourism Influence the Spanish Property Market?

Many foreign homebuyers in Spain have decided to make their investment during a holiday to our beautiful country.

In fact, foreign buyers accounted for over 13% of the nation’s property transactions during 2017, and bought over 60,000 homes throughout the country. With each year that passes, foreign buyers contribute more to the property market.

The market isn’t just increasing in the number of transactions, but also the prices. Throughout 2017, property prices increased 7.6% over prices throughout the previous year, which is expected to rise again this year.

Marbella and the Costa del Sol’s prestigious and idyllic urbanisations and neighbourhoods are what attracts people to Málaga. If living in the sunshine is what you’re looking for, the Costa del Sol is, without a doubt, the place to buy a property in Spain.