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Tourist Spending Highest Since 2007

Thursday November 3, 2011

Tourist Spending Highest Since 2007

Statistics just released by the Canarian Government reveal that tourist expenditure on both travel to and during Lanzarote holidays has so far totalled €1,426 million during the first nine months of 2011, the highest level achieved since 2007. With British tourism alone accounting for some €243 million, up by 16% versus the same period last year.

In total, €1,426 million has so far been generated by the tourist sector during the first nine months of 2011. However, some €953 million is spent within the countries of origin, leaving €473 million being dispersed directly by tourists whilst they are on holiday in Lanzarote.

When compared with figures compiled for the last four years, the current level of spending is better than it has been during 2008, 2009 and 2010, when the same nine month period generated €1,384 million, €1,038 million and €1,204 million respectively. Whilst in 2007, the year in which the credit crunch began, tourism was responsible for generating €1,486 million between January and the end of September.

If the figures for this year are broken down by each quarter, it is the third trimestre from July to September that has seen the greatest increase in earnings, with some €586 million accumulated during this period. January to the end of March 2011 saw €404.6 million earned, whilst April to the end of June generated €435.5 million.

Of the principal tourist markets, the United Kingdom continued to lead the way, with some €242.3 million generated by British tourists so far this year, an increase of 16% compared with the same period in 2010. Of this total, some €81.8 million was actually spent by British visitors on the island (33.75% of the total).

The visitors to the island who spend the most per head whilst they are on Lanzarote, however, are Spanish tourists. Of the €117.3 million Spanish visitors generated, €41.2 million of this was spent during their time on the island, which is the equivalent of 35.12% of the total.

Statistics detailing German spending on holidays in Lanzarote indicate that whilst €87.9 million was generated by this tourist market in total, only €17.5 million of this money was actually spent in Lanzarote (19.9%).

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