Overhaul of Tenerife's tourism sector to benefit property market
Overhaul of Tenerife's tourism sector to benefit property market
Local authorities on Tenerife are planning a revamp of the island's tourism strategy. Overseas property blog
NuBricks.com comments on the new plans and what they mean for the property and rental markets.
Tenerife has
recently begun to suffer from a slowdown in the tourism sector and has been "sitting on its laurels whilst other
markets played catch-up" , which in turn has led to under-investment in the market. Nevertheless, local authorities
recently hosted a conference to address all aspects of the island's tourism sector. As a
result, an eight-year plan is now in place to regenerate the industry between now and 2015.
The scheme, it is hoped, will bring the island back into line with other holiday hotspots, as NuBricks.com comments: "Aimed
at competing with the likes of
Greece,
Turkey and even
Egypt....the plan has been welcomed by many in
the region and will involve a whole host of new and exciting tourist attractions...Much of the development is set to
take place in and around the Puerto de la Cruz resort area." There are also plans to improve the region's transport
network. Tenerife's property and rental markets should also benefit from the improvements and, as the website points out,
"increased visitors in the form of holiday lets and increased investment from overseas buyers" will both have an
impact.
It is hoped that the island's appeal will be extended to "new markets such as Poland, Russia and
Italy", which, the
website opines, is a key factor in the success of the initiative. However, the scheme also aims to retain existing
visitors: "Nearly 60 per cent of visitors to Tenerife return again and again and the plan is to build closer ties
with tourists during their visit to keep them coming back in the future," NuBricks.com comments.
This story was brought to you by holiday
lettings.co.uk, the UK's No.1 holiday home website.
21 May 2008
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