Economic optimism in terms of consumption, because although inflation grows above wages, “There is debt capacity to sustain consumption”As judged this Thursday XIX Spanish Hoteliers Congress. Experts emphasized that interest rates will decrease.
For Ignatius of the Towerchief economist, partner and advisor Arcano PartnersThe biggest challenge facing the tourism industry “remains demographic.” In a world where education “must be continuous”, it will be “very difficult” to find qualified workers. “Baby Boomers are retiring and people aren’t coming to replace them.”.
De la Torre attended the ‘Macroeconomic Dialogue’ presentation at the Palau de Congressos, which was part of the congress held in Palma. Jaume MasanaBusiness Director CaixaBank, In a discussion chaired by the general secretary of the Spanish Confederation of Hotels and Tourist Accommodations (CEHAT), Ramon Estarellas.
“We have never experienced such a high interest rate increase in history”“For other banks, this is not a sexy sector,” said the CaixaBank executive, who used the financial institution’s intervention to underline its support for the sector. But central banks now not only see “green shoots”, they have acted to ensure inflation falls because they “want to make sure the sick person is okay”.
new customers
Following a tourism season that saw “good news” for Spain due to an increase in overnight stays and spending, despite Spain and Europe having a lower growth rate than the US, Masana advocated “looking after the world”. Tourism has fallen in Russia, but there are Americans and Asians with “high purchasing power”Markets that will “bring us customers”, which will alleviate the fact that British and German tourism continues to suffer from the recession.
“You are the happiness industry”CaixaBank’s Business Director told hoteliers that “there will be more time to travel” by encouraging them to work “in a world where our children will work much less.”
De la Torre said that in Spain, GDP will not increase by more than 1.2 percent, while in the West “it will be difficult to see growth above 1.5 percent because “what grows grows” in terms of demographic structure, renewal of workers. ” He therefore warned of an “increasing risk” if “the application of generative AI begins to create higher productivity gains.”
Artificial intelligence was, of course, the center of the discussion, as analyzed in another panel starring him. Jaime Cabanes(HBX Group), Jorge Nuñez (AdQuiver) Mar Muñoz (Ávoris) and Patricia Rossello (Roibos), moderated Alvaro Carrillo de AlbornozGeneral manager of ITH (Institute of Hotel Technology).