During the worst moments of the Covid-19 pandemic, the country’s economic and production activity was paralysed. Spain faced the biggest health crisis in decades, and it affected all sectors of the economy. But one of the hardest hit was tourism, which has been seriously affected by the restrictions on movement, the closure of hotels and tourist accommodation, ERTEs and the mass cancellation of events and flights.
Currently, the tourist use housing sector (VUTs) has already registered losses amounting to €500 million. However, that figure is expected to rise to €3,000 million by the end of the year, as explained by the Spanish Federation of the Associations for Tourist Housing and Apartments (Fevitur) speaking to Brainsre.news.