Spain still the number one holiday destination

Published on August 30, 2011 by David Turner · No Comments

Many people are now enjoying the fruits of their Spanish property investments

Despite the fact that less people are going abroad this year than ever before, 66% of those who do are choosing Europe as their holiday destination.

Sun and sea is what half of Brits look for in their free time. Spain is the most popular country to visit, followed closely by France and the US.

Spain is still benefitting from visitors who have invested in Spanish apartments/villas, and can now enjoy their holidays in relxed surroundings.

The number of people obtaining travel insurance for visits to countries including Spain and the United States is falling rapidly though, according to new research.

Fewer people are travelling this summer, and those who do are less likely to have travel insurance than other years. This is what a new research by a leading insurance company has concluded after analysing thousands of single trip policies.

More than a half of British people (58%) are not taking a holiday overseas this summer. Most of them said they can afford it and a quarter of them blame the economy directly.

On the other hand, 47% of those who are travelling say that the economic situation made them spend less money on their holiday than other years.

Michael Cutbill, director of AA Travel Insurance, said that travelling without insurance is “a very risky strategy.”

“Our own research shows that a quarter (24%), say they’ll travel without cover. A third of them (33%) don’t think insurance is really necessary while a quarter (22%) say the cost of cover is too high. More worrying is that 11% think that the free EHIC card, which provides reciprocal medical treatment in EC countries, is a substitute for insurance: it’s not.”

Transfer money to Spain

If you are looking to invest in Spain, think carefully about how you will be transferring money to Spain. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Spain, which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.