According to news reports, Spain's tourist arrivals are sliding fast:
- In year-to-April, foreign tourist arrivals fell 12 % yoy.
- Arrivals at the Costa Blanca (especially popular among depreciation-hit British tourists) are down 22 %.
This link provides details for the various Spanish airports and for different source countries (for some reason, arrivals from the US are up 6 %, whereas arrivals from pretty much anywhere else are down).
To fill the empty planes from the Spanish mainland to the Canary Islands, local residents now receive a 30 % ticket price subsidy, says this report.
Companies in the tourism sector are also feeling the pain:
- NH Hoteles saw Q1 room revenues drop 16 % yoy, and suffered a 48 m € loss for the quarter.
- Iberia also saw revenues drop 16 %, and lost 93 m €.
Meanwhile, Turkey, Egypt and Tunisia recorded strong growth in tourist arrivals due to their weak currencies. So apparently, people aren't staying home. They simply choose to go elsewhere...
China’s Estimated Intervention in February
vor 6 Stunden