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July 2023

Spain remains one of the world's favourite tourist destinations. Although the Covid-19 pandemic hit the Spanish tourism sector hard in 2020 and 2021, the outlook is positive for 2023 after the recovery in 2022, particularly with the expected return of European tourists. Against this backdrop, investing in the takeover of existing hotels in Spain could represent an interesting opportunity. The recovery should initially be driven by domestic and European tourism, before extending to tourists from further afield. Savvy investors will target hotels in regions that traditionally attract local and European tourists. The popularity of flat stays and holiday rentals will

The Spanish property market recovered strongly in 2021 after the health crisis, with transactions up by more than 34% compared with 2020. This momentum is set to continue in 2022 and 2023, underpinned by the economic recovery, still low interest rates and a growing appetite for the Spanish market among foreign investors. Demand is particularly strong for second homes on the Mediterranean coast and the Balearic Islands, with an increase in searches for houses with gardens and swimming pools since the pandemic. Major cities such as Madrid and Barcelona also remain very attractive. Foreign investors will be well advised to target

The refined products market is currently going through a complex period, marked by a number of determining factors. Firstly, global demand for fuels is set to slow in 2022-2023, as a direct result of the gloomy economic climate. According to the IEA, oil consumption is set to grow by just 2 million barrels a day in 2022 and 2023, half the initial forecast. This is putting pressure on petrol and diesel consumption. Added to this is the acceleration of the energy transition, with the growing adoption of electric vehicles in several regions of the world. Sales of electric vehicles have risen