More than 3,000 new companies in tourism sector created in first quarter of 2016

17th May 2016, Comments 0 comments

Many factors are indicating that this year is going to be another record year for the tourism sector.

International visitor numbers are already up on last year, tourists are spending more money and hotel occupation has already been fairly high.

But not only this, the situation is looking good for businesses in Spain as well, and recent figures show that during the first three months of 2016, a total of 3,325 new businesses within the tourism sector were established.

This news is much needed, especially after more than 2,100 companies within the sector folded over the last 8 years because of the economic crisis.

And, the increase in the number of new businesses related to tourism in the first quarter of this year is 32.3% higher than for the same period in 2015. Not only that, but this is the largest rise in the number of commercial businesses in the last 10 years.

It is worth noting that that majority of new businesses created within the sector between January and March belong to the food and drink industry (81.5%), while the rest of them are made up of hotel and accommodation businesses and travel agents.

The number of new businesses being created each year in the tourism sector began to decline in 2007, although it was 2009 that saw the lowest number of new companies registered, with just 6,000. By 2015, the figure had reached 9,800 for the whole year.

Thankfully, new companies in the tourism sector are being established in greater numbers, and according to data, owners are investing a greater amount of capital into them as well.

And, statistics have also revealed that fewer businesses within the sector are having to close down due to bankruptcy. Thenumber of failed companies fell by 15% during the first quarter of 2016, with only 89 going into liquidation. Twenty-seven of these belonged to the hotel industry, while 61 were dedicated to selling food and drink.

The greatest number of businesses within the tourism sector failed in 2013, with a total of 608. Last year, in 2015, this was reduced to just over half, at 312, with the majority of those going under being in the food and drink industry. Those least affected were the travel agencies.

Let’s hope that the worst is now finally behind us and that Spain can continue to prosper and create new employment and jobs for many more people.



© On the Pulse of Spain

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