TRAVELLING for business to and from Spain is expected to rise significantly in 2015 – and property promoters have reported a growing interest in regular 'movers and shakers' buying second homes abroad as a base instead of checking into hotels.
According to the GBTA Foundation, business travel in Spain, the UK, France, Italy and Germany is predicted to increase by up to 6.6% this year, with spending going up to nearly €157 billion.
The first half of 2014 saw a hike in spending on travelling for business of 4.3% - the highest rise in four years.
And as for Spain in particular, companies across the country admit to feeling more positive about their likelihood of growth in the next 12 months – more so than elsewhere in the European Union – due to greater focus on diversification into new markets and creating new products and services, and improving their own practices to become more efficient, according to research firm Markit.
The recession and economic downturn in Spain has forced companies, traders and working-aged individuals to draw on their creativity to find ways to earn money, leading to an overall modernisation and rise in flexibility and customer focus, as well as a drive towards 'going global' and breaking into overseas markets.
And the consequence of this is that their trading partners will need to visit Spain in the course of duty, or international firms will become keen to set up outposts in the country, leading to a higher level of traffic of business visitors touching down on Spanish shores.
A leading property developer in Spain, of which the head office is in the UK, has begun marketing second homes to business travellers as an alternative to hotels and says interest is growing among those who frequently have to book accommodation in the same parts of the country when jetting south for commercial reasons.
Those who need to travel to Spain on business from the UK and are considering buying a second home believe it will make life more convenient for them when they leave Britain on business, since they can cook their own meals, wash and iron their own clothes, and feel at home when they are away.
It also means they can bring their spouses or partners and children with them, or any other family and friends can go along for the ride, without having to pay for extra accommodation.
And when off duty, they can use their 'business base' for holidays and weekends away.
According to TravelPulse editor James Ruggia: “Business travellers often bring spouses, discover new interests abroad and, in general, prime the pumps for all manners of travel.”
At the same time, with Spanish property prices currently at rock bottom and the strength of the sterling meaning more euros to the pound, not only is buying a business home more affordable but slowly climbing housing values show that as a long-term investment, a 'working home' could prove to be a healthy top-up for a pension fund when the owner is eventually able to ditch the corporate world and put his or her feet up.
