Based on Aehcos data, the occupancy rate in the province is expected to reach an impressive 85.2% by the end of this month. This increase is mainly due to the positive effect of the long weekend (Puente de Mayo), favorable weather and the recovery of international tourism from many European countries and the United Kingdom.
With an increase of 8.2% compared to the same month last year, the figures for May indicate that the sector is steadily recovering and consolidating. According to President Jose Luque AecosHowever, it is important to remain vigilant and monitor developments closely throughout the summer.
Concerns about a potential recession
Luk also expressed concern about an expected slowdown in the fourth quarter of 2023 and early 2024. The possibility of another interest rate hike in June 2023, left open by the US Federal Reserve, could also have implications for Europe, including Costa Del. Sol.
International and national tourists
75% of tourists arriving in Malaga Province in May were from abroad, with the remaining 25% being national tourism. This underscores the importance of the recovery of international travelers for the region.
Best locations with high occupancy rates
At the municipal level, the Axarquía region stands out with a hotel occupancy rate of 91.48%. Other places that stand out are Torremolinos (89.66%), Málaga City (87.82%) and Mijas (85.96%).
A very good forecast for June
In June, Aehcos expects a further increase in the occupancy rate, which will exceed 85%. This represents an improvement of almost 4% compared to the same month last year.
Torremolinos is expected to reach a high of 92.67% in June. Other places with promising figures are Mijas (88.70%), Benalmadena (87.90%), Fuengirola (87.29%), Nerja (85.38%), Malaga City (84.85%) and Axarguía (75.10%).
Continued growth in the tourism sector
In the first five months of 2023, the overall occupancy rate was 73%, almost 12 percentage points higher than the previous year (61.3%). With this, the tourism sector in the Costa del Sol continues to show growth. A recovery in international travelers and a strong occupancy rate are contributing to the region’s success.
