Today I read a report mentioning that in some eastern areas in Spain, the real estate operations done by foreigners reach up to 70% of the total operations. Spain has a problem with tourism and a lack of new housing constructions, which is insufficient to cover all the demand. Also, the proliferation of Airbnb’s has an effect on the housing market.
Therefore, this is a big problem for the locals and is also beginning to affect some businesses, as the salaries that they pay are not enough to allow the workers to live there. In my opinion, many of these businesses should pay more to attract the workers they need to survive. But if they keep doing like this, these areas will be populated by tourists and foreign digital nomads with much higher salaries than any Spanish company will ever offer.
Source (in Spanish): La informacion
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Omg 70%?? This is too much. 😵😵💫
Spain benefits from tourists but also get suffered from tourists as well.