Survey finds Spain is where British expats are happiest

Brits happiest in Tenerife and Spain says survey

British expats are happiest in Spain, followed by Canada and Germany, according to new research which also examined their cost of living and financial well being.

The survey by Lloyds TSB International also found that overall British expats are far happier in their adopted countries than in the UK.

Overall, 68% of those asked said that they felt happier where they were than in the UK, although for certain countries this figure was much higher. Spain ranked number one for expat happiness, with over three quarters, 75.9%, of Brits living there saying they are happier than back at home. Germany also rates highly on the happiness scale with 71% saying they are happier than in the UK.

Source: ExpatForum.com

New brand created by tourist board to encourage Brits to buy a home

Costa del Sol brand designed to encourage Brits to buy homes.

The Tourist Board of the Costa del Sol has created the new brand ‘Living Costa del Sol’ with the aim of encouraging the British to buy a home and reside in the region for at least six months of the year, an initiative which is directed at clearing some of the surplus of about 30,000 homes.

The President of the organisation, Elias Bendodo, presented the brand at the World Travel Market tourism fair being held in London this week. He also told reporters that it is their intention that this initiative will also be used in promotional activities to be carried out in Germany, France and the Nordic countries.

According to Bendodo, ‘Living Costa del Sol’ was developed in collaboration with developers, insurance companies and financial institutions, and aims to attract new British residents, reduce the amount of unsold finished homes, located primarily in the west of the Spanish mainland, and boost Spain’s economic recovery.

The President of the Malaga organisation also assured that the developers are “fascinated with the idea”, and stressed the importance of having legal guarantees, for working with insurance companies in the countries to which the brand is focused, reported El Mundo.

Source: Kyero.com

Low cost airlines transport more than half of Spain’s air traffic.

Cheap flights to Spain and Tenerife

Low cost airlines carried 28.9 million passengers during the first nine months of the year, which is a 14.1% increase over the same period in 2010, compared to regular airlines, who carried 21.4 million passengers, an 8.3% rise, according to data released this week by the Institute of Tourism Studies for the Ministry of Industry, Tourism and Trade, reported Cinco Dias.

Thus, the low cost airlines accounted for more than half of Spain’s air traffic up to September, at 57.5%, compared to the traditional airlines who commanded 42.5% of the travellers.

By market, the UK and Germany lead the figures for budget airline travel, with 36.8% and 20% respectively of passengers who chose this path, which is up 10.2% for the British market (at 10.6 million passengers) and 6.6% for German travellers (with 5.7 million passengers).

In September, low cost airlines transported 3.8 million passengers, a 12.4% increase, while the traditional airlines carried 2.7 million passengers, representing an increase of 8.4%. Of the 6.5 million international passengers who arrived in Spain by air last month 58.8% did so using ‘low cost’ companies.

Source: Kyero.com

Expat children enjoy a better quality of life says survey

Expats children in tenerife have better quality of life. states survey

It has been revealed that expat children enjoy the good life and are likely to be benefiting from better education, higher safety levels and improved health and well-being as a result of their parents decision to live overseas. Expat parents report their children are more likely to be learning new languages (84%), playing more sports (47%) and spending more time with their family (53%) while on the whole, enjoying their new life abroad (85%). Living overseas appears to have a positive impact on the lifestyles of expat families; however, the UK fared less well among parents who had relocated. Overall the UK found itself bottom of the league table of the 14 countries that formed the survey sample of 30+ respondents at country-level. The UK is the worst performing country for both the childcare and the health and well-being categories when expat parents were asked to compare it to their home countries. In addition, it appears that the UK is also among the most expensive places to raise a child, ranking bottom (14th) for both the general costs of raising children and more specifically for the costs of childcare.

Expat children in the UK also appear to have the least active lifestyle since relocating. Only 24% of parents say their children spend more time outdoors since their move and expat parents in the UK are also least likely to say their children play more sport or spend less time watching TV, ranking last (14th) on each of these measures.

However, despite these relatively poor scores, 84% of parents reported that their children are enjoying their life in the UK, scoring the country 8th out of 14 in terms of how much children enjoy their life in their new country. This may relate to the fact that the UK scores top for expat entertainment in Expat Explorer’s Expat Experience 2010 report, which suggested that children can take advantage of many attractions and excursions which will help them settle in and enjoy life in their new country.

Belgium tops this year’s charts as the best location to raise children, thanks to the highly regarded childcare system and standard of education. 81% of expats based here agreed they had seen an improved standard of education in comparison to their home country while 68% thought the quality of childcare had improved. However, Belgium-based expat parents also benefit from some of the cheapest childcare, with (65%) now paying less for childcare than in their home country.

The rest of mainland Europe was not far behind Belgium’s lead, with Spain (2nd) France (3rd) and Germany (5th) all featuring within the top five of the Offshore Offspring league table. In contrast, the USA and UK hold the bottom spaces in the league table, ranking 13th and 14th respectively.

Safety of children improves with relocation. Of course the children who relocate to Tenerife have it all, sun, sea, British TV  and Playstations!

Spain still a top destination for holidaymakers

Spain remains one of the top destinations for holidaymakers around the
world, as tourist numbers and property enquiries both increased this
summer.
Figures released by the Frontier Tourist Movement reveal that Spain has
received 7.4 per cent more international tourists this year compared to the
same time in 2010, proving that the country’s beaches and culture are still
attracting visitors.
Around 32.3 million international tourists visited Spain between January
and July of this year, with July alone welcoming 7.5 million tourists. Up
to July 2011, Spanish airports received nearly 36.5 million passengers. The
busiest budget airline was Ryanair, which experienced a 25% increase in air
traffic to Spain.

Unsurprisingly, visitors from the UK led the way with 7.4 million
passengers (35.8 per cent), while Germany and Italy followed with 4.2m (20
per cent) and 2.2m (10.7 per cent).

The biggest rise to Spanish shores came from Swedish visitors (40.8 per
cent), who are purchasing an increasing amount of property in Spain. France
and the Netherlands also saw their number of tourists grow. Estate agent
Spanish Hot Properties comments: “Of all the tourists who chose to holiday
in the Costa del Sol, around 72% said they were attracted mainly by the
prospect of sun and sand which will come as no shock considering the
region’s exceptional climate.”

Spain continued to attract foreign interest in August too, Robin Brayne, Commercial Director of the overseas property portal, comments: “Once again, Spain is head and shoulders above the rest of Europe. People remain attracted by the country’s sunny coast and relaxed lifestyle, and further interest has been fuelled by the glut of repossessed & distressed properties being sold on by Spanish banks, offering homes at
superb value.”

Of course the Canary Islands, perticularly Tenerife remain popular for sales and purchase of propertyand holidays. As Spanish tourism soars this summer, the property market is looking increasingly sunny.

Spain receives 9million international tourists in first three months of the year

Spain received 9 million international tourists in the first three months of the year, according to figures drawn up by the Ministry of Industry, Tourism and Trade and published by the Frontur opinion poll.

This represents an increase of 2.9% over the same period last year. This increase is nearly ten times higher than the 0.3% registered in the first quarter of 2010. Particularly noticeable, were the increases in tourists from the Netherlands (22.3%), Belgium (20%), Switzerland (14.8%), Scandinavia (11.7%) and Italy (10.9%).

However, the UK remained Spain’s number one market, with 1.8 million tourists (albeit a decrease of 4.8% from 2010), followed by Germany with 1.47 million (3.7% less), and France with 1.2 million (2.7% more than last year).

In March, international tourist arrivals rose 0.6% to 3.5 million passengers, the Ministry said, recalling that last year’s Easter Week (Semana Santa) began in this month.

An increase in tourism usually spells greater interest in property purchase for second and holiday homes. Areas such as Tenerife are seeing a return of interest in the market as a result of such tourism

Source: Kyero

Spanish government property roadshow to tempt European investors

Jose Blanco unveils plans for European property roadshow to tempt investors back to Spain and Tenerife

The Spanish government will embark on a Europe-wide roadshow to convince  investors to come back to the nation’s property market, starting off with a press conference on the latest industry developments next week in London.

Minister of Public Works Jose Blanco and Housing Secretary Beatriz Corredor will brief UK property investors and media on the latest legal reforms and pricing activity in the Spanish property market, at a conference to be held at the Spanish Embassy next Wednesday.

They will then follow on with a consumer roadshow which will begin in Britain and continue to the Netherlands, France, Germany, Sweden and Russia.

“The Road Show will highlight the strengths of our economy, transparency and legal certainty of our planning legislation”, said Blanco in Madrid last week. “It is a good time to carry out this pioneering initiative because the markets that have the potential to invest in second homes are recovering and we must revive the holiday housing market to speed up the digestion of stock.” 

The Spanish property market is already showing small signs of having begun this ‘digestion’, with a 6.8% overall rise in home sales last year – the first positive figure since its real estate bubble burst in 2007.

Spain to avoid EU bailout

Spain to avoid EU bailout as property sector begins to recover.

After much speculation on the fate of its debt-ridden economy, it looks as though Spain will avoid seeking a large-scale financial bailout from the EU – an expression of confidence in its recovery that bodes well for property investors. 

Despite speculation since last autumn that its debts were unsustainable and there was no other option for the floundering nation but to seek EU rescue, Spain has stood strong whilst both Ireland and Portugal fell victim to debt crises, and now looks to be out of the woods. French finance minister Christine LaGarde, one of the key European authorities at the centre of EU crisis negotations, told the Wall Street Journal that “Spain isn’t a problem”, while German Finance Minister said that as far as the debt crisis in Spain was concerned, “the risk of contagion has lessened.”

Unlike Portugal and Ireland, which saw severe public opposition to national spending cuts and faced difficulty getting them through parliament, Spain has successfully implemented a drastic debt reduction program and has already cut its budget deficit to 9% from 11% in 2009, although unemployment remains high. As a result, borrowing costs for the country remain at a stable level, and investors appear to be renewing their confidence in Spain and returning to the market.

“Investors increasingly have come to differentiate between Ireland,Portugal and Spain”, economist Antonio Garcia Pascual, of Barclays Capital, told the Wall Street Journal. Credit ratings agency Fitch also reported last month that it considers an Ireland-style complete collapse of the banking and property sector to be “an extreme scenario which is not likely to materialize.”

With property sales having reported a positive growth of 5.9% last year for the first time since the market downturn, and new developments having all but ceased, allowing home supply to be soaked up in relation to demand, it looks as though the Spanish economy and real estate industry is beginning its slow road to recovery. Providing it can remain in investors’ good books in the coming months, the future is looking increasingly bright. Certainly if Tenerife’s recovering property market is to be used as an indicator, light has appeared from the end of the tunnel.

Spain works hard to cut deficit

Spain works hard to cut deficit

Spain is cutting its deficit faster than Ireland, Portugal or Greece, seeking to reassure investors that the nation deserves cheaper borrowing costs than its peers. Spain’s central government trimmed the deficit by 42 percent in the first nine months, compared with 31 percent in Greece and a widening budget gap in Portugal. The figures were released yesterday as budget talks broke down in Portugal, and Greece said its shortfall was bigger than reported, pushing up the yield premium investors demand to hold sovereign debt of the so-called euro peripherals over comparable German bunds.

Portuguese 10-year bond yields rose 27 basis points to 5.96 percent, the biggest one-day advance in more than a month. Greece’s yield jumped 73 basis points and Ireland added 32. Spain’s yield gained 9 basis points, leaving the spread over bunds near a 10-week low, reached the previous day.

“Investors seem to be differentiating more between markets as Spain has decoupled in a sense,” said Olaf Penninga, who helps oversee 140 billion euros ($193 billion) at Robeco Group in Rotterdam. He said his view has become more “constructive” on Spanish debt. Spain, which was forced in May to deny speculation that it might follow Greece in seeking an international rescue, slashed public sector wages 5 percent, reduced investment spending and increased value-added taxes in a bid to cut the budget deficit in half in two years. The measures are paying off as the yield difference with Germany has fallen by more than 25 percent from a euro-era high of 221 basis points in June, while spreads for Portuguese and Irish securities rose to records last month.

“Generally the budget seems to be on track and that’s a much better sign than in some countries where this data didn’t show an improvement, so in that sense some of the risks have abated,” Penninga said. The spending plan includes the deepest budget reduction in at least 30 years and aims to slash a deficit of 11.1 percent of gross domestic product last year, the euro region’s third largest, to 6 percent next year. That would leave Spain with a shortfall on par with France.

“There’s more conviction that the 6 percent deficit is achievable,” said Antonio Garcia Pascual, chief southern European economist at Barclays Capital in London. “They’re on track and my sense is they’ll end up a little bit better than 9.3 percent this year.” Prime Minister Jose Luis Rodriguez Zapatero, who leads a minority government, has already mustered enough support in parliament to pass the plan in an initial vote, cutting deals with two regional parties that should assure his government survives until scheduled elections in 2012. By contrast, Portugal’s opposition broke off talks on the minority government’s fiscal blueprint, jeopardizing its passage in a parliamentary vote set for next week and fueling the drop in its bonds. Portuguese Finance Minister Fernando Teixeira dos Santos said yesterday that failure to pass the budget “will plunge the country into a profound financial crisis with very serious consequences for our economy, in which we’ll see the channels of financing for our economy blocked. ”

Spanish tax revenues rose 13.5 percent in the first nine months as the sales tax increase kicked in, according to the government data published yesterday. Spain’s ability to maintain that revenue growth may be hampered by a jobless rate of almost 21 percent that will lead the economy to contract for a second year in 2010, damping tax collection. So far this year, Spanish long-term bonds returned 2.6 percent, compared with the 10.3 percent decline for Portugal and 6.2 percent drop for Irish securities of 10 years or more, data compiled by Bloomberg show. Of the peripheral countries, only Italy, with a deficit of less than half that of Spain, has performed better. Its bonds gained 6.2 percent.

Spain is among the peripherals most vulnerable to rising borrowing costs. Greece accepted a European Union-led bailout that should finance the country for at least two years. Ireland doesn’t need to issue bonds for the rest of this year and Portugal has met 94 percent of its financing needs, compared with 83 percent for Spain, said Chiara Cremonesi, a fixed-income strategist at UniCredit Bank in London.

“We’re still short Spanish bonds because we see the risk of supply not being taken very well over the next four bond auctions,” said Gianluca Salford, a fixed income strategist at JPMorgan Chase Bank in London. “But if things continue as they’ve been over the past few weeks, Spain will continue to tighten gently in line with Italy.”  While the relative risk of Spain has eased relative to the other peripherals, investors still perceive that there is a greater chance of the country defaulting than the Philippines, Thailand or Morocco. Credit default swaps protecting Spanish government cost 206 basis points yesterday, more than the 130.9 for the Philippines, 122.2 for Morocco and 89.3 for Thailand.  “When you look at the figures in Spain, I think we’ve seen the worst,” said Michael Wenselaers, a portfolio manager at KBC Asset Management in Luxembourg, who’s underweight in  Spain and “waiting for the right moment to step back in.”

Source: Bloomberg

Weather in Europe poor? Follow the sun to Tenerife!

Why freeze in Europe if you can afford a trip to sunny Tenerife?

Heavy snowfalls forced some of Europe’s busiest airports to close and wreaked havoc on roads and railways as an unseasonable cold snap swept the continent, claiming at least 15 lives. Temperatures dropped to as low as minus 18 degrees Celsius in some parts of Germany, while driving rain in Italy triggered the collapse of two Roman walls in Pompeii and flooding in Venice.

Thirteen people died of exposure in central Europe, including eight in Poland. Most were under the influence of alcohol, according to police.

Two people died in England in accidents blamed on the weather, one in a motorcycle crash and the other after falling into a freezing lake.

Albania meanwhile proclaimed a state of natural disaster in the north due to heavy floods, and more than 200 people were evacuated from the region near Shkodra as hundreds of houses filled with water.

Transport chaos hit the whole of the continent as the snow spread, and Britain – shivering in the earliest widespread snowfalls of winter since 1993 – was one of the countries worst affected.

London’s Gatwick Airport, Europe’s eighth busiest passenger air hub, will be shut until at least 0600 GMT on Thursday as staff worked to clear the runways.

A Qantas spokesman said none of their flights had been delayed. He said the airline operates out of London Heathrow Airport and Germany’s Frankfurt Airport, both of which have not closed.

Edinburgh Airport, Scotland’s busiest, was shut and delays were reported at airports in Glasgow and Aberdeen in Scotland, Newcastle in northeast England and Jersey in the Channel Islands.

British forecasters said Wednesday had been the coldest December 1 on record, with no hope of a let-up in the coming days.

British insurer RSA warned that bad weather in the run up to Christmas would have a major impact on the economy and could lead to significant losses for struggling businesses.

“This cold front couldn’t come at a worse time for the UK,” said David Greaves, director of RSA.

“If we lose just one fifth of our daily GDP through companies not being able to open and people cancelling spending plans on events and shopping, we’re looking at about £1.2 billion every working day,” he said.

Oil giant BP said the weather had “severely impacted” its deliveries to more than 100 petrol stations across Scotland and that it would only carry out safe and essential deliveries from its Grangemouth terminal near Edinburgh.

Police in the southern countries of Kent and Surrey advised motorists not to travel unless their journey was absolutely essential, with severe delays reported on the M25 London orbital motorway which passes through the counties.

Britain, which last year shivered through its coldest winter in 30 years, has not seen such widespread early snowfall since 1993.

Heavy snowfall also forced the closure of Geneva International Airport where 100 stranded passengers had to spend the night in the terminal. Two hundred others were sheltered by the civil protection unit as hotels were fully booked.

Switzerland’s Basel Airport shut its runway in order to clear off the 10cms of snow that accumulated in just over two hours. The country’s biggest airport Zurich was still operating, although 70 flights had been cancelled due to bad weather conditions in other airports.

At Germany’s Frankfurt airport, Europe’s third busiest, 153 flights were cancelled, all due to flights not arriving from elsewhere.

And 250 flights were cancelled at Munich airport, nearly a quarter of the daily total, mostly due to snow preventing take-offs.

In the Paris area, French aviation authorities asked airlines to cancel 25 per cent of their flights at Roissy airport and 10 per cent at Orly because of expected snowfalls. But there were no flight cancellations Wednesday

Snow and freezing temperatures however forced authorities to cancel 116 flights from Lyon Airport.

Trains were also hit, including the Eurostar, which operates high-speed passenger trains linking London with Paris and Brussels. Speed restrictions were imposed and led to delays of up to 90 minutes and some cancellations.

There were widespread problems on the roads across Europe, including in France where 17,200 trucks had to abandon their journeys nationwide.

There were serious accidents reported on the main road between Prague and the eastern Czech city of Brno.

In Italy snowfalls disrupted traffic in city centres and on motorways in the northern Lombardy and Piedmont regions, and in Spain school transport services were disrupted by heavy snow in northern and central regions.

Snowdrifts and fallen trees also caused traffic problems in Germany.

Bild newspaper said it was the coldest December 1 in several hundred years, with temperatures as low as minus 18C in some places.

Eight people have died of exposure in Poland, three in the Czech Republic and two in Lithuania, officials said on Wednesday.

In Italy two ancient Roman walls fell down in the archaeological site of Pompeii due to persistent heavy rains that wore away the ancient mortar between the stones.

With all this bad weather, why not  get on a plane to the warmth of Tenerife and the Canarian sun?