Costa Blanca 3 year recovery predicted from recession after coronavirus lockdown
AS the Costa Blanca lockdown period continues and with it expected to be extended even further, the region is likely to hit a recession period due to the area being heavily reliant on tourism.
Financial expert Millionaire, Martyn James former owner of Stan James bookmakers before selling out for millions to Ladbrokes. The heavy property and commodities investor warns:
“I love the Costa Blanca and am always looking for more investments there but it’s going to be a bleak period ahead and I’m holding back right now as the prices will probably crash, I do though see a boom after a shortish recession with a full recovery by 3 years, the summer is now over trade wise I’m afraid, even if Spain comes out of lockdown earlier than others, the travellers won’t be there in the numbers as I expect Britain for example to peak at the end of June with the coronavirus and possibly in July shattering holiday plans.”
“It’s going to be a matter once lockdown finishes of grafting hard and fighting for survival and the toughest will survive, hotels will take the longest to recover and I predict a few going bust before speculators step in to take advantage, tourists will hopefully though after being on a lockdown themselves take up late packages for the autumn triggering a comeback, but the actual losses overall will take three years to fully recover from basically a lost spring and summer,” James told the Euro Weekly News.
He further added “Traders though shouldn’t despair, the business will return, with a burst of a boom period, clever business strategy and clever marketing will see many people fully recover the current losses, it’s all about hanging in there.”