Tourists Increase Property Income in Mallorca

spain-mallorca-alcudia-coastTraditionally, most of the buyers of Mallorca real estate have been in a staggering majority British, so much so that there are large communities on the island in the smaller cities along the coast. For a long time, British buyers have been the most important players in this market and some have invested heavily in local assets, such as land and summer homes.

However, recent reports that have proved that the local market for buyers is diversifying and it seems most of western Europe is getting in on the act. Local real estate agencies are reporting buyers from countries such as Norway, Sweden, France and Ireland.

But that doesn’t mean that Spain and Mallorca are out of the crisis, far from it. Though the real estate market in the Balearics is faring better than other regions in the country, the outcome for the next years is reserved. All the locals can do is hope and promote their island the best they can.

At least in numbers, Spain is a desired location when it comes to tourism. This year’s numbers are looking quite promising as August of 2011 brought new highs for the tourism industry overall. There was a 9.4% increase in the number of tourists from 2010 with an estimated total of 7.64 million arrivals in the country for August alone and 40 million from the beginning of the year.

British citizens remain undoubtedly on top of the tourism charts but this year there was a 16% increase in the number of American tourists, for the month of August, 12.35 in German tourists and 10.5% in Italian.

The most popular destination in August was Catalonia with 1.9 million tourists , followed closely by the Balearics with 1.8 million visitors during the same period. They were followed by Andalucia with 1 million, the Canary Islands with 821 thousand, 737 thousand went to Valencia and 550 thousand made their way to Madrid.

These number mean that this year Spain was one of the most popular destinations for people across Europe, outdoing more classic summer getaway destinations such as Greece or Turkey. Because of this newfound popularity in tourism, experts predict an increase in rental incomes, especially in destinations like Mallorca which seems to be among the favorite with tourists.

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