Property bargains can be had in Tenerife as tourism struggles during the world recession
The latest edition of the World Tourism Barometer has revealed that international tourism will decrease between four and six per cent this year in response to the economic downturn and concerns about swine flu - with Europe posting the biggest decline - a fall of ten per cent between January and April this year…
The United Nations World Tourism Organisation (UNWTO) has said that global tourism in 2009 will fall sharply.
International tourism is now forecast to decline by between -6 per cent and -4 per cent in 2009 as the pace of decline is expected to ease during the remainder of 2009, according to the UNWTO. In January it had predicted a decline of between zero and two per cent.
In view of the rapidly deteriorating global economic situation, economic growth prospects have repeatedly been adjusted downwards over the past six months. Property owners in Tenerife,who rent for income will need to keep this in mind when setting prices this year. Europe posted a decline of ten per cent between January and April this year, Going against the grain was Africa and South America, which both posted increases of three per cent and 0.2 per cent respectively
The research also revealed that France remained the world’s top tourism destination last year with 79 million arrivals. The United States regained the second-place position which it lost to Spain after the September 11, 2001 attacks. With this news in mind there are bound to be many bargains in the Tenerife property market at present, so if you are considering buying that one bed apartment, or that wonderful piece of prime property in Tenerife nowcould be the best time to check with your estate agent for those once in a lifetime bargains!
