British Tourism To Lanzarote Continues To Rise

Despite failing airlines, falling currencies and the current gloomy economic outlook the number of foreign tourists visiting Lanzarote continues to rise. According to figures recently released by the Spanish airport authority AENA.

Overall, foreign visitor numbers to the Island of Fire have increased by 3.4% during the first eight months of 2008 (versus 2007 figures). Numbering 1,092, 892 holiday makers. With tourists from the UK, Lanzarote´s largest market, leading the way and accounting for well over half of this total, with 571,851 visitors to August end. An increase of 7.9% on 2007.

The Irish are also evidently reluctant to surrender their holidays abroad – and are now firmly established as Lanzarote´s third most important market (after Germany). With a total of 150,003 tourists from Eire touching down at Arrecife airport during the first eight months of this year. An increase of 4.7% on the previous year’s figures.

The only negative note comes from the German market – where visitor numbers are continuing in their longer term downwards pattern of decline. Falling 10.2% so far on 2007 – as German tourists opt for other destinations.

The majority of British and Irish visitors will be staying in apartments or holiday villas in Lanzarote. As of the islands overall official capacity of 65,293 tourist beds only 25,196 are accounted for by hotels. With the rest taken up by apartment complexes and private villas.

This in turn ensures that whilst the level of demand for Lanzarote property is way below that of previous years there is no sign of complete paralysis in the market. As currently appears to be the case in the UK. With overseas buyers still showing interest in holiday rental properties on the island, particularly at the cheaper end of the market.

As a result prices have, to date, remained relatively stable. With only vendors who are forced by circumstance to sell needing to resort to significant price reductions in order to induce and attract buyers.

That being said all of the islands largest estate agents are reporting a significant decrease in transactions versus 2007 – with many also anticipating a tough trading year ahead in 2009.