Change in Residential Tourism – Where Are the New Market Possibilities?
Many changes come unexpected. And, they are often driven by market forces. The stock market is a good example of an area that deals with continuous changes. This is most visible after a period of falling stock prices. “What goes down, must go up,” is what people think and often this is true, but not necessarily as a direct response and for the same shares.
Often after a decline there is a change in shares that previously belonged to the out-performers and after such a change (decline) are followed by a new sector of stocks that become the peer group. Something has changed.
Such a sector-related change is also possible and to be expected in the business markets, for example in the housing market, real-estate or more specific (residential) tourism. In the last years Spain has grown in this area of residential tourism. Over the last years however, the prices have gone up, and not only of real estate, but also of the facilities; from the simple sun-beds, the golf courses to restaurants.
Now that the real estate “boom” is landing softly, many — automatically — expect that everything will turn to normal again on the short-term.
More likely is it that the change will be more structural. People will search for new and cheaper alternatives, like in the stock market, after the credit crisis investors will underweight their investments in the financial sector which was until recently the out-performing sector. What to do at sentosa singapore
In the tourism area and especially residential tourism, there are more alternatives. Greece for example has so far not experienced a spectacular growth, because of facilities and other factors (being more isolated). But this will change. Investors will recognize new growth markets, and the previous growth areas will be skipped for a while. (They are like the IT and financial sectors of the past crisis, showing under-performance for long when the market are stabilizing again, but at lower (growth) levels).
The advantage of a country like Greece over Turkey or Morocco is that it is part of the European Union which makes it more secure and at the same time it is not yet as developed (and expensive) as Spain, Portugal or Italy. These “traditional” tourist areas will automatically be converted to the more luxurious destinations, the new destinations like Greece will enter periods of growth like those of the traditional countries a few years ago.