Investors Is it time to invest in the tourism sector on the stock market?
Tourism The foreign press focuses on the fifth wave in Spain: "A spectacular speed of propagation"
The Spanish tourism sector is holding its breath these days.
And it is not for less, there is a lot at stake.
If the season of the second pandemic summer does not measure up, one of the pillars on which the still incipient economic recovery is based will fail, affecting companies in the sector that have barely survived until now, it can even be fatal.
Several international media, such as the influential Financial Times or Le Monde yesterday put their focus on our country, pointing out the high levels of incidence of the Delta variant and warning of the risks of visiting Spain this summer at a time when many foreigners are still deciding where to spend your vacation. Bad news for a key sector that is already suffering the consequences of the absence of British people, our main source of tourists.
The sector closed ranks yesterday, like the Government, with a general call for "calm."
But investors reacted again by taking the red to the stock values associated with Spanish tourism.
Thus, lAG closed the session with the biggest drop in the Ibex (-3.30%), followed by Meliá (-2.48%).
More moderate, but also important, were the drops in Amadeus (-1.68%) and Aena (-0.60%).
Not even the possibility that the British Government announced today, Thursday, the advancement of the end of its restrictions for its citizens vaccinated with the full guideline encouraged the tourist park: the reputational cost was sown.
"Being on the international covers certainly doesn't help."
This news "has a direct impact on the tourism sector and makes international citizens rethink coming to Spain", warns Carlos Abella, the secretary general of the Tourism Board.
But do not be alarmed ahead of time.
This is how Inmaculada Benito, the Director of Tourism of the CEOE, defends it, who asks to take into account the "learning" that the pandemic has left us: «The elements that are being used now to define and limit the incidence should not be the same as they were used when we were with lower vaccination levels ».
"The fact that there is an increase in cases in Spain is not good from a reputational point of view. You have to do two things: Accelerate vaccination in younger groups and build trust by indicating that this is happening," explains Benito.
Something that agrees with Emilio Gallego, Secretary General of Hospitality of Spain: "Being concerned about the level of contagion is logical. We are concerned about the measures that must be faced in this new situation. What seems irrational to us is that today the same containment measures are being considered as a year ago. "
It refers to decreeing the closure of nightlife, for example, as a containment dam in the face of the increase in cases among young people or as a brake on news such as the macro outbreak in Palma de Mallorca.
"The problem is the bottles in the street, not the nightlife", warns Abella.
And it is that the news of infections from tourists who have just arrived in their countries of origin after spending their holidays in Spain do not help the sector either.
Yesterday, 34 young Belgians tested positive after spending their holidays in Lloret de Mar and Calella in Catalonia.
The increase in the incidence of the autonomous community has led to the introduction of severe restrictions in its de-escalation and to decree the closure of nightlife in closed spaces.
The Government believes that there is no reason to anticipate a puncture of the tourist season.
Sources from the Ministry of Tourism assure EL MUNDO that the forecast of arrival of 40 million foreign tourists at the end of the year is maintained, although they do not clarify what the specific forecast would be this summer.
What they do assure from the Ministry led by Reyes Maroto is that, given the high level of vaccination, the Accumulated Incidence (AI) is no longer the most suitable indicator to measure the level of risk in a country.
And that is what defends, precisely, the head of Tourism of the employer's association.
Benito believes that the covid protocols that have been developed during the pandemic in the tourism sector and how they have served to guarantee the health of tourists must be valued: "We have to take heart from how they have worked," he says.
The head of the Tourism Board also believes it.
"Since the beginning of the pandemic, the tourism sector has developed effective protocols. If we look at the infection rate in hotels, we see that it has been very low."
And the same now: he believes that specific infections can occur, but "no outbreaks".
The vaccination campaign is our great letter of introduction to foreign visitors.
From the Hotel Business Federation of Mallorca (FEHM), chaired by María Frontera, they consider that vaccination, together with mass screening, "are the main tools that all countries currently have to contain the virus."
For this reason, they consider a "priority" to accelerate vaccination.
During yesterday's session, the percentage of the population vaccinated with the complete schedule rose to 42% of Spaniards and to 59% with the first dose.
The Health Ministry expects group immunity to be reached "by late summer."
While that comes, the sector continues to deal with high doses of uncertainty: "We have a season ahead in which if we manage to save the furniture we can be satisfied," says Abella.
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