Tourism during the summer months slowed its growth rate to 1.1%, as reported by Exceltur. For the tourism employers there is no alarmism despite this break, since they understand that these levels are "in accordance with current geopolitical and macroeconomic conditions" and remember that the results in the third quarter of 2017 were very good.
Thus, the recovery of the competing markets of our country in the sun and beach segment, such as Turkey and Egypt, have hampered the arrival of foreign tourists to our country. In particular, these months there has been a decrease of 3.4% of international tourists, based mainly on the fall of tourists from Germany (-6.1%), United Kingdom (-4.7%) and Italy (-3.6%). Other reasons for this slowdown have been the collapse of the Turkish lira, the rise in oil prices, political instability in Catalonia and the Ryanair strikes.
The lower arrival of international tourists has also influenced overnight stays during the summer, which fell by 9.1% in total. In addition, the average stay of tourists in our country during the central months of summer chains its fourth consecutive year to decline, settling in 7.9 days.
The good news is that the drop in the reception of foreign tourists is that tourist spending has not suffered. On the contrary, it has grown 0.7%, being one of the keys in the growth of the sector. From Exceltur consider this fact very positive, since they understand that it is the way to follow to achieve a more qualitative than quantitative tourism. This increase in income has been greatly influenced by the growth of tourists from North America, South America and the Nordic countries, which spend more.
At the same time, Exceltur also highlights the higher spending of the Spaniards themselves with respect to the data for the second quarter. Especially in the area of the Mediterranean coast and the Canary Islands, where the Spanish demand increased by 3.5% compared to the fall of 4.3% of foreign tourists.
Suffer the hotels
By subsectors, the drop in overnight stays has affected the balance of hotels, which have reduced their sales compared to a year ago. For employers, attention must be paid to this fact, focusing on the fact that this worse balance does not lead to a reduction in rates, something that, although it has not yet occurred, according to Exceltur should "be avoided, since the sustainability of the future sector requires new models and differential positions that avoid entering into price wars to the bottom ».
In contrast, transport companies have improved their results, especially the airlines. The data handled by employers indicate that 87.4% improved their results moderately. The same thing has happened to travel agencies and leisure companies, which have also improved their balance sheets a year ago.
By region, both Balearic and Canary Islands companies have worsened their results. In the Mediterranean archipelago, they have been harmed by the impact of the tourist tax due to the fall in income, something that has happened in the Canary Islands.
In the case of Catalonia, companies remain negative due to political instability. In Madrid, there has also been a decline in revenue but from the employers' side they attribute it to a year ago the capital hosted important international events.
For its part, the Basque Country, Castilla-La Mancha, Extremadura and Aragon have closed the summer with a significant improvement in their results.
Improvements for the last quarter
For the last quarter of the year, Exceltur relies on an improvement in tourism results. From the employers point out that the fourth quarter of 2017 was less dynamic than the previous ones, due to the political problems in Catalonia, so the comparison will not be so decompensated first. In addition, they add that the work calendar until the end of the year has several bridges that "will allow organizing more trips and trips". To this we must add the improvement that is expected for the private consumption of the countries that emit European tourists in this final stretch of 2018.
For this reason, Exceltur maintains its forecast that in the global of the year turimove grow 2%, contributing for the first time since 2010 less than the whole of the Spanish economy (which is projected to grow by 2.6%).