The Las Palmas College of Economists has once again come out in favour of holiday rentals, claiming that tourists who rent holiday accommodation are far more likely to spend money at their destination than hotel guests.
The College presented the report, by Rosa Rodríguez, in Lanzarote’s Chamber of Commerce yesterday. It claims that holiday rental guests spend around 48% of their holiday outgoings at destination, compared to a figure of 22% for hotel guests.
“The supply of holiday homes has risen following the increase in demand and that generates wealth for the island, said Rodríguez. “Therefore, the data should be analysed in greater depth when making government decisions that affect the economy of small property owners.” she added, clearly referring to the Canarian Government’s forthcoming law on holiday rentals,
The study also concluded that Lanzarote has the highest level of holiday rental occupation on the Canaries, at 80%, and that the total income of €181.7 million was second only to Tenerife on the islands.
The report also claimed that 90% of VVs (viviendas vacacionales) On Lanzarote were owned and run as small- or medium-sized businesses.
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