Tourism in Spain drops for the first time in a decade

The number of visitors that travelled to Spain back in July 2018 dropped by 4.9% when compared to almost 10 years of statistics. Figures also showed a growth rate in visitors of just 0.3% in the first 7 months of this year, the lowest growth rate in 8 years.


Spain is typically a go-to travel destination for British tourists, but it seems that the pound drop fiasco after Brexit was announced, along with the exchange rate from pounds to euros, has stopped UK nationals from taking their summer holidays in Spain this year.

Instead, tourists are flocking to the likes of Turkey and Egypt, where the exchange rate against the pound is much better; meaning that Brits can get more holiday spending money in countries where they’ll ultimately spend less than they would if they went to Spain.

While Spain is still one of the top holiday destinations for British tourists, many have started turning to other countries for their getaways; searching for a bargain even with the bad exchange rate that comes with the pound.

Last week, sterling was on the rise again, and across the nation every British national held their breath, hoping that we would all finally see an end to the abhorrent effects of Brexit, but it was not to be. Reports show that the pound is slipping back down once again, as Brexit tension runs high across the country.

According to Bloomberg, the pound is currently trading at €1.108 against the euro. Due to the new UK manufacturing data that came to light yesterday, it’s very possible that the pound will keep falling. Luckily, notable UK services figures and Eurozone retail sales are among the other data being revealed this week, and there is hope that this information could move our markets and help pull the pound back up.

The Turkish lira recently crashed meaning Brits could get almost double Turkish lira for the pound when compared to last year. As of today, the exchange rate for 1GBP is approximately 8.59TRY. To put that into perspective, a 1.5-litre bottle of water in Turkey’s markets is typically around 1.67TRY.

Following the incidents and catastrophes that have happened in recent years in both Turkey and Egypt, they are also deemed to be much safer places to travel to – because of the added security measures against any possible attacks.

Unfortunately, back in Spain, we’ve seen several anti-tourism marches and demonstrations over the last few months; as well as several deaths which can not be confirmed as related to recent incidences.

When it comes to choosing where you’ll be flying off to on your next family holiday, it’s always best to check the situation in any country you’re planning to visit before you book. Tensions seem to be high in several parts of Europe and Africa, and there have been many natural disasters in parts of Asia and across the islands of Hawaii in the last few months.

 

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