September 21, 2020

The tourist sector, another voice against the Budgets of Sánchez

The tourist sector, another voice against the Budgets of Sánchez


MadridUpdated:

The recent proposal of General State Budgets carried out by the Government of Pedro Sánchez with the collaboration of the Unidos Podemos formation finds numerous discordant voices in the different sectors of the Spanish economy. The last one who has raised his criticism has been tourism, which in the mouth of the president of the Alliance for Tourism Excellence (Exceltur), José Luis Zoreda, has regretted the tax increases that the current government wants to undertake for next year. For the tourism employers, actions such as imposing increases in the Corporation Tax and diesel will end up weighing on the productivity of the sector. In addition, they also reject the rise in the minimum wage to 900 euros, since they understand that wage increases "should be linked to productivity."

The employers, who has presented today the results of the summer season and its forecasts until the end of the year, which show a deceleration of the sector compared to previous years, lacks in the PGE "a more preferential attention to continue being the locomotive of the economy". In fact, they regret the lack of measures to support tourism. The sector, despite its slowdown, continues to have the same rates of job creation as the economy as a whole, something that Exceltur believes is a reason for public investment to be reinforced.

In this way, the employers oppose the tax increases included in the Budgets in order to "be able to promote new cycles of tourism activity that are more sustainable and socioeconomically more profitable". Thus, they understand that a rise in Corporate Tax can cause investors to change their investments in Spain to one of the competing countries in the market, such as Turkey and Egypt.

In addition, they believe that taxing the dividends obtained by companies in the sector outside our borders will do a great detriment, since that money "has served as a cushion for many of the companies in these last years of crisis", has specified Zoreda.

Likewise, they add that the increase in diesel will have a negative impact on the internal tourist displacements, while reducing the profitability of companies such as car rental. Finally, they also question the viability of tourist rates, which would cause higher prices than those of competing markets.

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