Tourism Celebrates Budgets And Bounces On The Stock Market

Now that the General State Budgets have been presented, the item destined to support the tourism sector this year has finally been black on white . In Spain, more than 1,700 million euros will be dedicated, of which more than 1,400 million come from the European recovery fund.

This, among other factors, encouraged investors yesterday to take an interest in the values ​​linked to tourism in Spain. The rise in IAG stood out above the others , close to 3.2%. The Anglo-Spanish airline accumulates a revaluation of more than 17% so far this year and, nevertheless, it is still more than 20% from the maximum of the year , harvested in the month of March. The latest rebound came as a result of the announcement of the end of restrictions on travel to the United States as of November 1.

But this news was not only celebrated by buying IAG securities. Also Amadeus, Aena and Meliá managed yesterday to close with important advances within the Ibex, from 0.1% of the technology services firm to 1.2% of the hotel company.

However, the increases in the latter were also supported by another external factor, such as the improvement in the recommendation of the investment firm Bryan Garnier. This house of analysis gave a 180 degree turn to its strategy, going from selling to buying . Until now, both Meliá and Aena and Amadeus occupied the lower part of the Ibex League of elEconomista , the combined board of Bloomberg and FactSet.

Likewise, the experts of this analysis house raised the target price for Meliá by 50% , from 6 euros to 9 euros, leaving it with more than 30% upside potential for the next 12 months .

60% of air traffic
This Wednesday traffic data was published at airports in the Aena network, registering 16.3 million passengers in September and more than 170,000 aircraft movements, which represents the recovery of more than 60% of passenger traffic of the same month of 2019 , prior to the pandemic. It should be remembered that in the summer months, from June to September, only 51.8% of the passengers from two years ago were reached.

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