Kerosene depends on oil and this raw material is in the eye of the storm due to the events in Israel and Iran. This is a tinderbox in the tourism sector and coincides with the wave of tourismphobia that exists in the Canary Islands due to the Tenerife disaster of disproportionately increasing supply, generating an erroneous perception of the destination in the south of Gran Canaria. Already with the Suez Canal in March 2021 it caused a temporary increase in oil prices because millions of barrels of oil could not be transported, causing a decrease in supply in the global market. If the price of oil skyrockets, the Canary Islands market will have to tighten its belt more.
Uncertainty in the oil market led investors to buy oil as a safe haven asset, which also contributed to the rise in prices. Rising oil prices may lead to increased energy costs, which may force hotels to raise their prices. Many tourist activities in Maspalomas, such as excursions, safaris and jeep tours, depend on ground transportation. An increase in the price of oil can lead to an increase in the prices of these activities. The price of oil also affects the cost of food, since the transportation of food and the production of some food products depend on energy. An increase in the price of oil can lead to an increase in food prices in restaurants and supermarkets, which can affect tourists' budgets.
In general, an increase in the price of oil can have a negative effect on Maspalomas tourism, as it can make trips more expensive and less attractive for tourists. However, the actual impact will depend on a number of factors, such as the magnitude of the oil price increase, the sensitivity of the tourism market to price changes and the ability of the tourism industry to adapt to new costs.
An increase in the price of oil can lead to an increase in airline ticket prices, which may deter some tourists from traveling to Maspalomas. The cost of ground transportation, such as car rental, taxis and buses. An increase in the price of oil can make transportation more expensive, which can affect tourists' budgets. In general, the price of oil is an important factor that can influence tourism in Maspalomas, both positively and negatively. Should the tourism industry be prepared to adapt to changes in the price of oil and take full advantage of the opportunities that may arise from low oil prices? Not even they know it.
