Canary Islands attract surprising sets of tourists

Currencies Direct February 9th 2017 - 2 minute read

Recently, the Canary Islands – and Tenerife in particular – were hit by huge waves, which sent some very brave surfers into the water to try to conquer them.
It was a surprise to many in the surfing world, since the Canaries – unlike other islands such as Hawaii – are not known for their swell. However, surfers around the world have seen video of the surfers on the waves, which has ignited a flurry of interest in the islands.
This means that the Canary Islands could expect a rise in the number of surfing tourists, which would be another set of somewhat surprising tourists to the archipelago.
There are a number of attractions drawing people to the Islands that some may not have known even existed. These include the relatively unknown wine industry of the Canary Islands.
This has garnered a number of headlines in recent times, but still surprises those who taste the wine. Tom Rowley, travel writer for The Telegraph, wrote that the Malvasía produced by most vineyards was “very drinkable,” adding that he considered the wine “top notch”.
When these tourists visit the Canary Islands, they end up spending money. They spend on accommodation, food and entertainment. And it presents real opportunities to those who are willing to invest in the Islands.
They need to have somewhere to stay, and these places typically receive the lion’s share of the money spent by tourists. It means that the Canary Islands are a fantastic option for those who are willing to invest in property but unsure of where to do so.
In December 2016, the amount that tourists spent in the Canary Islands was 32.8% of the total spent in Spain. This represented a total of €1.4 billion (£1.2 billion) and was an annual rise of 23.1%. Catalonia came a distant second, with 20.9%.
This shows how much money is put into the Islands by the thriving tourism industry. Taking into account the fact it was in December, a typically unimpressive month for tourism, makes it all the more impressive.
It has the effect of making the concept of letting property in the Canary Islands a tantalising prospect. If you know that in one of the worst months for tourism – with people tending to stay at home to be close to their families during the festive season – people are spending more than £1 billion, it should go some way to convincing you that the Canary Islands represent a truly unique opportunity.
Property in the Canaries also represents a real bargain for investors. Prices are far lower than they would be in the UK for the same sort of property.
If you are interested in investing in a buy-to-let property, knowing that tourists visit the Islands all year should be a real boost. It means that your property will be let for the majority of the year, with few periods of emptiness.
Currencies Direct can help you in your acquisition of the perfect property by helping you transfer money to the Islands without the cost and hassle of dealing with your bank.


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