Spanish households are investing more and more money in stocks and shares, says the Bank of Spain. The latest figures published by the Bank of Spain reveal that households and non-profit organizations, which provide services for households, own €155.3 billion in shares, reports financial newspaper The Corner.
There is some good news for those who paid deposits on homes in Spain that were never built, The Olive Press reports. The new rules state that if a deposit was paid into a developer bank account and the property was never built, then the purchaser is entitled to a refund from the bank, along with any interest occurred, even if the developer is no longer trading.
It could be another record breaking year for tourist numbers in Spain this year, with nearly 90,000 flights scheduled to fly into Malaga airport alone this summer. The wave of flights amounts to almost 500 flights per day, bringing a total of 15.5 million tourists to the Costa del Sol.
Luxury hotel chain W is to open new premises in Marbella in conjunction with the Platinum Estates investment group who will be developing the project. W Hotel and Resorts new hotel will be built near Marbella’s Real de Zaragoza beach and is expected to open in 2021.
Malaga’s iconic Tivoli World amusement park is to receive a €300 million makeover, a move that will create thousands of new jobs and boost tourist numbers in the area. The park, located in Benalmadena, will undergo a full modernization which will see the addition of 43 new attractions as well as the construction of a new commercial and leisure centre on adjoining land.
Spanish banks Bankia and Banco Mare Nostrum (BMN) have been given the go ahead to discuss plans of a proposed merger, Reuters reports. Both banks will consider the proposal by Spain’s FROB bailout fund in a bid to recover public money used to rescue the banks back in 2012.
Spain is the second best country in the world when it comes to heritage, according to the world’s best country survey conducted by US News & World Report, Y&R’s BAV Consulting and the Wharton School of the University of Pennsylvania. Spain is a country full of cultural delights ranging from foods to historic attractions so it comes as no surprise that the country ranked highly in this category and only narrowly missed out on the top spot to Italy.
Expats fear that they will lose access to healthcare or even the right to reside in Spain once the UK leaves the EU, according to a survey by the Brussels and Europe Liberal Democrats. The survey questioned 5,000 expats living in the EU with nearly a quarter of which living in Spain. It found that 83% were ‘very concerned’ that Brexit may impact on their rights and benefits; the right to reside, S1 healthcare and automatic pension increases were top concerns for expats living in Spain.
The British Ambassador to Spain is confident that Brexit will not have a negative impact on tourism in Spain and that the number of British tourists visiting the country will not be affected once the UK leaves the European Union.