Tourist numbers are set to soar this summer, continuing the trend from previous months, according to business forecasts gathered by the Canary Islands Statistics Institute (ISTAC). The primary driver behind this increase will be a surge in visitors from the main source market, the United Kingdom, mirroring last summer's trend. Additionally, a significant rise in domestic travellers from mainland Spain is anticipated.
The tourism boom is expected to last until the end of September, with notable increases in visitors from other European countries, albeit to a lesser extent than British and domestic tourists. Noteworthy growth is expected from Irish, French, Italian, Portuguese, and Dutch visitors.
With these key markets in play, average occupancy rates are predicted to hover around or exceed 80% in July and August, slightly dipping in September. The difference in occupancy rates between hotels and other accommodation complexes across the island's main tourist areas will be minimal.
However, a full occupancy rate is unlikely due to a predicted decrease in German tourists, continuing the trend seen in 2023. Additionally, there are negative forecasts for Nordic travellers, who typically visit during the winter months and have a small presence in the summer.
Due to the positive outlook, businesses expect to command higher prices for accommodations in the third quarter, surpassing those of previous months. Consequently, there is optimism about revenue levels, anticipated to exceed those of summer 2023, with significant gains expected particularly in hotels.
The tourism surge is also expected to boost job creation, with hotels experiencing higher levels of optimism compared to other businesses. Business leaders also anticipate moderate increases in direct investments in the sector from July to September.
With a substantial increase in British and Spanish tourists leading the way, and promising signs from other European markets, the tourism sector is poised for a prosperous summer. Higher occupancy rates, increased prices, and positive economic impacts, including job creation and investments, paint a bright picture for the archipelago’s hospitality industry.
