2008 Competitive Tourist Property Hotspots
Spain, top of the property hotspot charts ? Well think again, a new Travel and Tourism Competitiveness report outlines which countries are better positioned to attract tourists in 2008, making them not only attractive tourist hotspot but also a good overseas property bet.
We have just seen the release of the Travel and Tourism Competitiveness Report for 2008 which makes particularly interesting reading if you operate in the property investment sector. While tourism has always been one of the key elements in any healthy property market, it is interesting to see that countries such as Switzerland, Austria and Germany seem to be better placed than most to attract more tourism in 2008.
As you might expect, Spain does feature in the top 10 list alongside the likes of Australia, the UK, the US, Sweden, Canada and France but it is the top three who are attracting the attention of investors. While all of the top three countries are well known throughout the world, is it really time to be looking towards ski property in the alpine destinations of Switzerland and Austria and the attractions of a German property investment?
The report is a very useful indicator as to how well prepared a country may be to draw visitors, with issues such as infrastructure, local laws, crime, property markets and the environment all playing a major role in a country’s overall “score”. With the advent of climate change, it seems we are set to see more of an emphasis on the environment and those countries who are putting environmental concerns at the top of their agenda appear set to benefit. We are moving into a tourist industry where harm to the environment may well mean more and more people turning their backs on certain destinations, in favour of environmentally friendly destinations, although it has to be stated that this is only a part of the overall picture.
It will be interesting to see how the property market reacts to what is expected to be a flow of similar reports in the future. While the environment may not be at the forefront of every property investors mind at the moment, if it is something which concerns the tourist masses then it could well be an issue worth paying attention as a future tourist selling point.
