DESTINATION SPAIN – BLOOMBERG TV
The objective of our TV program is to portray the beauty and diversity of the country, its traditions and Heritage as well as covering the most relevant topics related to Spanish tourism sector, its success story and the challenges ahead. The program aims to full-fill the existing gap between the International perception about Spain as a tourist destination and the reality of today Spain’s fast changing tourism industry.
The program will be broacasted by Bloomberg Television, part of Bloomberg Media Group a leading multi-platform global business and financial media company, reaching more than 80 million consumers. Powered by Bloomberg journalists and analysts, Bloomberg break news, analyze data, share perspectives and tell the stories leaders need to know. Bloomberg Television is available in more than 433 million homes worldwide in over 70 countries; it streams live on Bloomberg’s digital and mobile properties. Bloomberg TV delivers 24 hours of continuous global business and financial news, Bloomberg Media has been named the number one business media brand in Europe for the third consecutive year. Bloomberg Television shows strong concentration among all international news channels in targeting senior business leaders,
HNWI and frequent travelers.
THE PROGRAM ANGLE & SEGMENTS :
- SPAIN, THE WORLD´S 2ND GREATEST HOLIDAY DESTINATION.
The number of tourists visiting Spain increased for the fifth consecutive year. In 2018, Spain once again mark a new record boosting more than 82 million foreign visitors becoming the second most visited country in the World, and the second country in terms of income from tourism, making a new record of 90 millions of Euros and contributing with 16% to the country’s GDP.
- TOURISM COMPETIVNESS
Spain, has managed to hang on to the throne. For the second time in a row, its tourism sector ranked as the most competitive in the world, according to the World Economic Forum, Spain’s success can be attributed to its unique offer cultural and natural resources, combined with sound tourism infrastructure. The country has one of most extensive motorway network in Europe and was praised for its good airport connections.
- THE PRICE OF SUCCES / RETHINKING THE MODEL
Spain opened its doors to foreign visitors in the late 1950s. Since then, the industry has been perfecting a system that has proven so successful that other countries now seek to emulate it. But social and technological changes have created new challenges. Some analysts believes that the Spanish model is inefficient today, since it requires an enormous volume of demand, which in itself has a set of socially and environmentally costs. The sun-and-sand formula puts tremendous pressure on the country’s already-depleted water sources and climate change is not helping. Green groups continue to warn about the effects of untrammelled development along the coast – which is where most tourists want to be.
The model encourages a labour market where jobs are low-wage and seasonal. The boom also has caused a growing backlash from local residents. Where locals once welcomed visitors with open arms, they now dread their arrival. From Palma de Mallorca to Barcelona, tourists are being seen increasingly as invaders, guilty of pushing up prices and destroying the character of their destination. Tourism-phobia is now a reality. The different players are determined to refocus the industry towards a lower numbers of visitors and higher quality. 2018´s figures show that tourist spending grew at an even faster pace, representing a 3.3% rise compare with 2017. There is also consensus that greater diversity in terms of regions is needed, in order to attract tourists to less visited areas, popular destinations such as Barcelona and the Balearic Islands reached a saturation point. Authorities are trying to shift the sun and beach’ model towards the development of non coastal destination and other tourism segments such as inland, gastronomic, cultural, wine, health and LGTBI tourism. Today Spain is not longer just about sun- and sangria-seekers; cities such as Bilbao, Valencia , Seville and Cadiz are now attracting better-heeled visitors. The north of Spain area , “the green Spain” has experienced almost a 4 % grow wile sun and sea destinations mainly in the islands has decreased around 5% .
- THE TOURISM MAP
During 2018, the Autonomous Communities that received the most tourists where Cataluña with almost 19 million, The Balearic islands with nearly 13.2 million the Canaries islands with more than 13 million. The forth main destination by number of tourists was Andalusia, with more than 12 million tourists followed by Valencia with almost 9 millions. Others destination with less number of visitors, but with high rate of growth are the province of Cadiz In Andalusia, Extremdura , Almería and the “green Spain” in the northern part of the country. The program would be covering all developments related with the tourism industry in each of the this upcoming destinations, while giving exposure to their geographic characteristics, their culture and history, their rich and unique gastronomy as well as the tourism attractions they have to offer to the visitors.
- HOSPITALITY INDUSTRY / TRENDS
The hotel market is undergoing a revolution. Investment funds are buying up property and seeking to turn a quick profit by turning units into vacation rentals, while online services such as Airbnb now lists over three million properties across the planet. The Spanish hotel industry continues to prove its resilience despite noticing the effects of the recovery of Mediterranean resort destinations. It is not surprising to see the positive evolution of a sector that continues to attract investment appetite. To break seasonality is probably one of the biggest challenges for the sector especially considering the improvement in the security at competitors markets. An average Hotel in Spain can not compete in prices with similar Hotels in destinations such as Egypt or Tunisia. Digital transformation: Social media is generating new business models and transforming the industry. The new generation are tomorrow guests, the challenge is to adapt to the disruptions of the digital transformation and take advantage of the possibilities that brings. Human resources: According to recent studies, the shortage of talent will be a serious problem, in years to come, there would be very few destinations that will offer the talent required. Training within the hospitality industry is still one of Spain challenges, in order to maintain competiveness. Sustainable operations: Researches found that more than two-thirds of travellers wanted to stay in eco-friendly hotels in 2018. Across Spain, hotels are prominently flagging their green credentials as they increasingly take steps to reduce their environmental footprint, and appeal to a new generation of eco-aware consumers. In recent times, major hotel brands across the country have been implementing green initiatives to cut their environmental footprint. Yet while many hotels are moving in the right direction, there’s much more that needs to be done to make Spain’s hotel industry truly sustainable.
- PROPERTY MARKET
A gradual rebound: The market has been on a gradual rebound since 2012, when luxury properties began to recover following the global recession, during the financial crisis that began in 2008, home prices fell 30% to 35 % across the country, nothing that they have since risen by about 8 percent. Overall, Spain saw a 17% increase in sales inscribed in the Land Registry in October 2018 as compared with October 2017. There was a roughly equal increase in the sales of new homes and the re-sales of existing homes. Part of that recovery process involved enticing buyers from countries which had historically shown little interest in Spain. This strategy is now paying real dividends for Spain. In fact, it has been so successful that developers are now starting to be active again. Shifts in the market: The Brexit referendum prompted concerns that the UK’s withdrawal from the EU had the potential to reverse this progress. This has not been the case, in fact, Spain’s property market continues to recover and The British continue to lead the way with 7,613 purchases, an 8.8% rise from the first half of 2017. They are followed by French nationals, who acquired 4,211 properties (a drop of 4.6%) and Germans, who bought 4,138 homes (down by 2.1%). Fourth and fifth place go to Romanians (3,872 purchases) and Moroccans (3,662). The nationalities that posted the highest year-on-year growth are Morocco (28.8%), Ireland (24.7%) and Denmark (18.2%). As for buyers’ favourite destinations, the Valencia region leads the list by a wide margin: nearly one out of every three home sales took place there, and the region posted the highest year-on-year growth at 16.7%. Second on the list is Andalusia with 9,737 sales and growth of 8.2%, followed by Catalonia with 7,570 transactions, a 5.3% decline from the first half of 2017.Another real estate bubble? From 2000, the growth of Spain was consistent as the economy heavily relied on construction. However, whilst many houses were built, families and companies didn’t have enough money to buy those houses. In turn, the banks lent them the money, many of which were high-risk loans. In 2008, the real estate bubble burst, and with it came its many consequences. It took years for Spain to recover from the crisis… did it recover? Or is Spain entering another real estate bubble? Today, the banks don’t loan as much as they did before the first real estate bubble burst. The Spanish economy’s situation is far from the same as it was between 2006-2008. Real estate’s prices growned for 5 consecutive years now, a pace of 27% per year, however they are not as high as they were leading up to the recession. Other element that generate trust is that the profile of the buyer today is different of those during the boom. Today buyer is looking for a second home or a holiday home, whereas during the bubble there was speculative component since prices where growing on 10% on a year basis. Brexit: Spain hosts an estimated 310,000 British expats. No wonder there has been a sense of concern as to what U.K. expats might do if the Brexit process ended in an outcome of no-deal? This was doubly worrying as so much of the Spanish economy had been favoured by residential property construction. Over 50% of expatriate homes are owned by British citizens. Spain’s cabinet acted to approve a series of measures for U.K. citizens that reside in Spain to continue living there just as they do now even if a satisfactory Brexit deal cannot be achieved. Not only is Spain keen to maintain a good relationship with the British that live in Spain. There are many tourist Euros at stake since a great numbers of British tourists flock to Spain each year for their holidays.