The advance of Easter to March and the leap year (February had one more day) have dampened the results of the first quarter of 2008 for the Spanish tourism sector, which, however, grew by only 1.7%, compared to an average of 2.5% last year, according to data from Exceltur.
More than half of tourism entrepreneurs believe that the results of this Easter have been worse than those of the previous one. And although the influx of foreign visitors has decreased slightly (less than 2%), spending is lower and income per visitor tends to decrease alarmingly.
The Business Tourism Climate Indicator has registered negative values for the first time in six years. The agents in the sector expect a deterioration in activity in the coming months. Above all, due to the sharp reduction in sales and profits that they have begun to see at the start of the year. We can see in our neighbourhoods how well-known travel agencies (Viajes Iberia, Viajes Ecuador, Viajes Marsans or even Halcon Viajes) are beginning to close… Yes, first it was the Real Estate offices and now it seems that it is the turn of the travel agencies to close. Other chains that were born under the false formula of the “franchise” (There are no travel agency franchises… it is false) are also beginning to close (Almeida Viajes, Zafiro Tours, Viajes “Tio Pepe”, etc.).
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The oversupply of tourists, competition from new emerging destinations and the appreciation of the euro against the dollar have forced many companies to adjust their margins to remain competitive, just at a time when inflation is experiencing strong year-on-year increases. Thus, 48% of business owners admit to having suffered a drop in the profitability of their business.
In an environment marked by the cooling of the main economies in the area and by a more pronounced deterioration of activity in Spain, Exceltur has revised downwards the growth of the tourism sector for this year by three tenths, to 1.6%, compared to 2.4% in the previous year.
High-end tourism, the exception in the sector:
Although tourism is experiencing the consequences of the global economic crisis, some segments, such as luxury travel, seem to be showing, at least for the moment, greater resilience. This is shown by the latest Luxury Report 2008/2009, recently presented by Pangaea Network, which notes a certain disparity between the different markets, although the vast majority have not registered any declines.
In the case of Spain, a country where the luxury travel market has grown by 15% to 20% in recent years, this tourism segment remains stable despite the crisis. According to the study, most tour operators say that booking data is similar to that of previous years, although they warn that honeymoon trips will be affected. Despite this stability, "luxury travel providers are adapting their products by offering a better deal on the price of their hotels to meet consumer demands . " (Source: Nexotur).
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