Friday February 10, 2017
SPEND SPEND SPEND Tourist Expenditure Hits Record Highs
Lanzarote´s booming tourist sector generated an additional €437 million euros last year, as holidaymaker´s spending hit new record highs of €2,881 million, a year on year increase in total expenditure of around 17%.
This increase in total tourist expenditure reflects the fact that visitor numbers have continued to grow at a rapid rate across both the Canary Islands and Spain as a whole over the last year, as concerns about terrorism have effectively wiped out a host of former competitor destinations.
Last year alone on Lanzarote tourist arrivals rose by over 10% whilst key markets such as the UK completely outperformed post-Brexit expectations, growing by just over 15% versus 2015 figures.
However, the vast majority of this expenditure, around 73%, was spent by tourists on flights and accommodation in their home countries before they even reached the island. And actual tourist spending here on Lanzarote remained stubbornly unchanged at €35.7 euros per day, around half of which goes on buying food and drink from local supermarkets or eating out in restaurants.