Page 36 - Property Portfolio - March 2020

NewsDigest Property Portfolio brings you local and national

news headlines with a bias to Spain’s tourism,
property and economic position.

Coronavirus impact is overwhelming

Tourism accounts for 12% of Spain’s Gross some hotel chains announced discounts and
Domestic Product and is especially important offers to lure wary travellers.
during next month’s Easter holiday period. Hotel Another victim of coronavirus is Spain’s religious
bookings were around 20%-30% lower at the statue-kissing. A Spanish pre-Easter tradition,
start of this March compared to the same period where Catholics flock in droves to kiss statues
of Jesus and Mary, fell victim to the coronavirus
epidemic early March as churches with some of
the most sought-after statues told worshippers
not to touch or kiss them. Health authorities
have recommended that people use “common
sense” and avoid rituals that could help spread
the disease that has killed five people and
infected 365 so far in Spain.
A Barcelona-based company is one of the
main European paper mask manufacturers,
selling them in over 70 countries, the Spanish
mask manufacturer Climax told Reuters the
production of face masks is seeing an upsurge,
worldwide, in demand however company does
a year ago and the drop is as steep as 40% not have the capacity to go beyond its current
in some areas, “The impact is overwhelming,” maximum production of around 20,000 masks
said Jorge Marichal, the president of Spain’s a day. (Reuters) n
hotels and tourist accommodations federation
CEHAT. Concerns over
the impact of coronavirus
on the sector has been
exemplified by a hotel
in Tenerife, after several
cases of coronavirus were
reported there. The Canary
Islands, is one of the
hardest-hit tourists spots,
however, Economy Minister
Nadia Calvino said recently
that she did not expect
a significant economic
impact from the coronavirus
in the country for now, while
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