Spain’s most popular holiday destination is set for a massive recession and has huge financial issues ahead with many businesses predicted to head into bankruptcy.
Benidorm in Spain is normally the most sought after holiday destination amongst Europeans. Famous for it’s golden sanded beaches amongst strips of bars and restaurants that align hotel after hotel to skyscraper levels attracting British, German and many other European venturing holiday seekers is predicted to hit woeful financial troubles ahead.
The Spanish iconic destination has been totally closed and roadblocked off to the world as its been on a national state of emergency nearing 11 weeks and despite the lockdown being released slowly, certain restrictions still apply.
Benidorm’s strip of Las Vegas type saloons are normally permitted to be open for business for 24 hours, now they are reduced just to 11 pm halving any income revenue, but according to financial expert Walter Winders formerly from Nevada who now resides in Benidorm, that’s just the tip of the iceberg.
Winders predicts Benidorm will sink quicker than the Titanic over the next 12 months and fears for its future.
Walter told global247news.com of the predicament and his financial forecasts:
” Benidorm is a beautiful quaint Spanish town that is normally the centre of Europe for the holidaymaker, but there’s not going to be many holidaymakers this year for starters, airlines are not flying passengers in, quarantine rules remain in place if passengers obtain a flight and tight regulations are still in state that’s restricting businesses that make the town thrive operating at large losses, for instance, a good bar or eating diner can only permit 50% of its capacity, under those restrictions they can not turn a profit if you can’t turn a profit the scale of economics is simple – the business goes pop”
” It’s the same for all businesses here, no clients, no revenue, endorsed by regulation after regulation from the Spanish Government which is socialist at present”
” This town Benidorm faces a huge recession and will take years to recover if it does at all, in my opinion, it could end up becoming a ghost town forever if holidaymakers start to select other destinations”
“Take the hotel industry you have to be open to attract customers, although you can’t operate a hotel or motel without customers, it’s a no-win situation for any business”
Global 247 News spoke to one bar owner originally from the UK who opened his Bluebell named bar 7 years ago, as he told us ” I came her 6 years ago, i haven’t made a fortune, but I made a nice living and made a lifestyle, all thats been wiped out the bank account now after 11 weeks, I’ve still had to pay my lease and rental agreements, no suuport from the government as promised yet either, I am afraid to say it but I have a feeling I won’t see out the year, possibly not even that long”
The outcome is not looking good for Spain’s Bendiorm hotspot right now that’s for sure.