Tourist rent contributed to Spain 62,157 million in 2017, according to HomeAway

Of this figure, 17,466 million were dedicated to pay the rent, and the rest to expenses in the destination

Tourists who opted for tourist rental (VT) in Spain during 2017 generated 62,157 million in the destination, according to the ‘V Barometer of holiday rentals in Spain’ carried out by the HomeAway platform in collaboration with the University of Salamanca.

This study was presented on Thursday by the director general for the South of Europe of HomeAway, Juan Carlos Fernandez Perez-Crespo and the professor of the University of Salamanca and director of the study, Pablo Antonio Muñoz.

Muñoz explained that the main novelty of this year’s barometer is that they have been able to fully calculate the economic impact of holiday rentals in Spain, since they have expanded the number of surveys to include tourists from the three main countries that visit our country : United Kingdom, Germany and France.

To measure the importance of foreign visitors, the study notes that tourist rental generated a total of 110 million trips in the last two years, of which 81.2 million (73.8%) were from foreigners and 29 (26 , 2%), residents in Spain.

In fact, 85.3% of the economic impact (the total expense of travelers using VT, including rental payment and other expenses) in 2017 was generated by tourists from these three nationalities. The total expenditure of Spaniards and foreigners in the last two years reaches 124,313 million euros.

Also, only 28.9% of the total amount spent by foreigners was devoted to the payment of their accommodation, while in the case of Spain, only 23.7% of what was spent during their stay was dedicated to the rent.

Total expenditure, both for rent and stay, in 2017 was 2,375 euros from residents and almost double, 4,417 euros, in the case of foreigners.

Of these, 530 euros are dedicated to the rent of a lodging and 1,845 to other expenses of the stay in the case of the Spaniards, whereas the foreigners dedicate 1,134 euros for the rent and 3,283 for the rest of expenses.

Figures that are in line with the average length of stay of each of the groups, which is 9.9 days among foreigners and 5.5 days in the case of Spaniards. On average, 32% of the cost is spent in shops near the home.

31.7% OF SPANIARDS USED VT IN THE LAST TWO YEARS

To compare the use of tourist rentals with hotels, the survey asked both Spaniards and foreigners how many of them had stayed in a VT in the last two years. In total, 31.7% of Spaniards answered affirmatively, compared to 43.5% of residents abroad.

Likewise, the respondents were questioned about the number of times they had stayed in hotels or VT in the last two years. In this case, hotels are imposed on both Spanish (3.55 times) and foreigners (2.68), on tourist homes: 3.07 times in Spanish and 2.62 in foreigners.

A 55.08% of respondents (weighted average of Spaniards and foreigners) argued that compared offers and opted for the VT and 38.69% said they were only interested in vacation rental. The rest admitted that they opted for the VT because the hotels were complete.

As for the location, the study indicates that 62.81% of foreigners who visit our country prefer to stay in the outskirts, while 52.82% of Spaniards opt for the center. Only 1.85% of respondents said they had experienced problems with neighbors.

From HomeAway have ensured at this point that the average user of tourist accommodation is not “problematic”, since 43.7% of residents in Spain who opt for VT are families and 35.6% couples. The figures for foreigners are similar: 42.1 and 36.7% respectively.