People 'will still travel' to property in Spain

Overseas investors are still making the trip to property in Spain in spite of the worldwide economic crisis, a sector specialist claims.

The popularity of travelling has not been dampened by financial worries, according to Amir Girgis, economist at the World Travel and Tourism Council.

He states that people still want cheaper holidays, which has led several tour operators to offer discounts on many trips.

"People still want to travel and that is the difference between this recession and any other blips we have had in the travel and tourism industry," Mr Girgis explains.

According to a recent report by the council, the contribution of travel and tourism to gross domestic product is expected to rise in the next ten years.

Industry expert Spanish Hot Properties recently claimed investors may receive the greatest discount by opting to buy distressed property in Spain, which is often brand new and avoids many bank fees.