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High-end British tourism will continue to grow, in spite of the “Brexit”

According to data from the DOM3 Businessmen Association, sales to this nationality are dropping at the lower segments, while maintaining at high quality with a very slight drop, showing a little variation and concern according to different professionals in the sector.

High quality British tourism will continue to grow in the Costa del Sol. This is the conclusion drawn by the Association of Businessmen for High Quality Home DOM3 and publically announced recently in a Forum about tourism and Brexit consequences, organised by Rafael Escudero Chair.

In this way, in spite of some uncertainty generated initially regarding the British market, the situation seems to go back to normal activity.

According to information provided by DOM3, sales to British customers have slightly decreased. “This is mainly evident in the lowest segments, which are more aware of the pound and markets”, said President Laura Pou Majón. However, other markets such as the Scandinavian, Dutch, Belgian, German, French, Moroccan, and Middle East have increased allowing a balance to counter with this drop, as stated from the Association.

Even so, in spite of the decrease mentioned, forecasts continue to be positive and encouraging regarding the British market _ The Costa del sol continues to be the most popular touristic destination among the majority, around 42%-49%, way beyond competitor destinations as France, with 12%. Together with this information, DOM3 has pointed out that the United Kingdom is the third investor country in Spain, with 37.6 million of Euros, from which 35% corresponds to direct investment in the Andalusian community.

Apart from this, several reasons continue to consolidate this area as a first destination: proximity of main British cities to Malaga, weather conditions, and culture.

For all these reasons, for the Association of Businessmen for High Quality Home DOM3 the “Golden triangle” area formed by Marbella, Benahavís and Estepona municipalities, “turns to be very profitable and interesting for high-end property purchases from the British”, stated Pou Majón.

Following this line, DOM3 has also highlighted the forecasts from the British Commerce Chamber, which points out British companies are optimistic to continue investing in Spain, and, more than half of them have plans to increase their investments in the next two years. It is also believed that an agreement will be closed, beneficial for both parts.