A delegation of companies from the south of Gran Canaria in the tourism sector, led by the Department of Tourism, which manages the Maspalomas Costa Canaria brand, will be present from November 6 to 8 at the international tourism fair World Travel Market London. That is to say: Tirajana's absence at the London fair will not be repeated. The venture capital funds and Socimis that own hotel beds, which have them insured through Swaps for price turbulence, will put their presence in the United Kingdom in the hands of salespeople and not managers this year as a savings measure.
Maspalomas Costa Canaria will participate in the trade mission promoted by the regional and island authorities. Those responsible for WTM London highlight this international fair as "the most influential travel and tourism event worldwide." Maspalomas Costa Canaria hopes not to leave any detail to chance and send a message of opening the business to operators who have been waiting to invest with security and legal guarantees for years.
The British tourism fair comes at a time when Spanish aid to mitigate the effects of the energy crisis ends on December 31. High labor costs and falling demand are among problems beyond the increase in oil. 2023 promised to be a good year for airlines bringing tourism to the south of Gran Canaria, as travel demand returned and the Covid pandemic faded on the horizon. What no one saw coming was the great return of the industry's original enemy: crude oil.
The price of oil has risen more rapidly than expected in the past three months after Saudi Arabia and Russia extended their supply cuts in late summer. Tour operator airlines have taken a hard hit. Earlier this month, a gauge of airline stocks, the S&P Supercomposite Airlines Industry Index fell into a bear market, extending a steady and rapid decline from the most recent highs reached in mid-July.
