Incredible crowds of tourists, and French and Belgian investors, arrive to Marbella looking for safety after the terrorist attacks in Paris and Brussels
After the terrorist attacks in Paris in November 2015, and already vast instability caused by the Arab Spring in North Africa and Turkey, crowds of tourists, as well as of French and Belgian investors, who would normally choose other more exotic destinations, have opted for the security of Europe for their vacation, especially the one of Marbella. Since it’s a high-quality destination, with great weather and quietness, where multiculturalism has always prevailed regardless of origin, ethnicity or religion, it has resulted in a major boom in the local economy due to the huge demand for rentals and sales of apartments, villas and plots in Marbella, as many of such tourists not only come to visit for a few days, but decide to settle in the Costa del Sol. Equally, establishments, such as restaurants and shops, have noticed this huge growth in demand even in less commercial months of the year, which are from October to March.
Another reason for the growth of demand from Belgian and French tourists is the need to reduce the huge tax payments, that French citizens are subject to – up to 75% on earnings and assets. The simple fact of staying outside the country of habitual residence for more than 180 days (6 months) exempts them from paying estate taxes for the whole year. This is an important reason which make the rich French choose to spend long periods of time in Marbella.