Lost Password? Register

Property news by Property Wire

Wed
Aug 20th
2008
Home arrow News arrow Europe arrow Brits escaping wet UK boost holiday rental market

Brits escaping wet UK boost holiday rental market

Print E-mail
Saturday, 12 July 2008
Brits escape wet weather
Brits escape wet weather

The economic downturn is not putting off Brits from taking holidays this year and the current bad weather is helping by making people even more eager to escape abroad for the summer.

It could be good news for investors with rental property in popular areas like Spain, Italy and France. The Association of British Travel Agents said people are cutting back in other areas rather than miss their annual summer holiday.

It is all about psychology. 'We are in a situation which is potentially quite depressing. One way to escape the current economic gloom is to take a foreign holiday,' said spokesman Sean Tipton.

He added that the poor weather in the UK has also contributed to the desire to book a trip overseas as areas such as the Mediterranean offer consistently good weather.

The long term summer weather forecast is not good for the UK with the Met Office predicting higher than average amounts of rain.

Last summer was a washout so the prospect of a second wet summer is also encouraging people to look abroad.

There is a historical precedence for this. According to ABTA previous economic downturns saw a similar demand for holidays in sunnier countries.

Morocco and Bulgaria could also benefit. But Spain is still one of the most popular holiday destinations. The latest figures show that in the first quarter of this year over 10.6 million holidaymakers arrived in Spain.

If we look at the sheer number of people going, Spain is still the number one top seller,' added Tipton.

Another trend identified by ABTA is that those visiting Spain don't just want to lie on a beach. They are keen to find good food and also take part in outdoor pursuits including golf, riding, walking and visiting parks and historic sites.

This story relates to: rental market  uk  weather  [SEE ALL]


BOOKMARK THIS PAGE (What is this?)     Digg!Reddit!Del.icio.us!Google!Live!Facebook!StumbleUpon!Newsvine!Furl!Yahoo!

 
Related News
More Recent News
Earlier News
Muriu Beach, Natal

Europe: Top Headline

Property owners seeking improvements offered discounts at London showProperty owners seeking improvements offered discounts at London show

The UK's growing number of landlords and first time buyers who are struggling on budgets can seek out bargains to enhance their property investments at an event designed to show the best prices available.

Recent European news

Feature story

Real emerging property markets are to be found in South America

With the US and European property markets submerged in economic gloom it is only natural that shrewd property investors should look to other countries, indeed other continents, for the next big thing.

Company news

DIFC Report assesses progress towards GCC Monetary Union

The Dubai International Financial Centre (DIFC) today released a report assessing the progress being made by GCC countries to achieve the convergence criteria for a GCC Monetary Union (GMU) that were endorsed by the Supreme Council of the GCC at its 27th session held in Riyadh in 2006.

Forum Watch

Beware rose tinted spectacle syndrome as forums highlight property woes

If you speak to property professionals they often have funny stories and happy stories but it is the disaster stories that make the headlines and headlines are often taken at face value as the property forums show this week.

Currency watch

Dollar weakens against the Euro

The dollar weakened against the Euro after a 6 month high due to profit taking and rising commodities. Despite this little weakness, it is still expected that the dollar will regain its strength and continue its upward trend against all the major currencies.

Newsletter

Subscribe to our weekly newsletter and stay updated on the property market trends.
Subscribe now >>

Subscribe to our Europe property news feed (RSS)
Egypt seaview properties - Marlion Residences