Tenerife forum

karlb

I keep hearing theres no money, its so quiet, everyone is struggling, all inclusive holidays are killing business's such as restaurants, tourists have no extra cash due to the euro exchange rate.

What is everyone else's opinion.

The papers always say visits are up, tourism is up, forecasts are on the up bla bla bla.

Just wondered what everyone else thought.

The streets here in Callao just seem as busy as normal but maybe people are just not spending.
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strippersrus

hmmmm...I read the same thing....

BUT I do see people all over the place.

Golf Del Sur has been slightly quieter.....but its the summer and it mostly busy here in the winter lol.

Las Americas and Cristianos seem as busy as they normally are...I was down Puerto Colon he other day and it packed as usual....Neil is busy with divers who are coming in off the streets.

The apartments I look after are busier than last year...

Flights have gone up by almost double last years prices...and thats not just for the summer months either...Neil still goes back every month and it is costing more.

BUT on the other side I have spoken to people who say they are not spending as much as they used to cos of the exchange rate...makes it more expensive here...
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Stripps

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karlb

Thanks Strips I am of the same opinion as you.
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rob

I believe that it is tougher at the moment but it's a very popular cry amongst lazy people to say that business is terrible. It's far easier to blame something or someone else when you're too idle to get off your backside and take a good look at your own business/work practices.

Yes we have more people coming than before, there are also many more businesses to serve those people and the streets aren't so packed as they used to be because we have more and bigger streets, the visitors are more spread out with more choice.

I also believe that many people have less money to spend, banks are tightening up on credit to uncreditworthy clients which means less money being spent. We've all heard horrendous tales of people having multiple credit cards and maxing them out without a care for paying the money back, many gleefully opting for bankruptcy.

I have business clients who would rather sit and moan about lack of business than do something about it. Look at the number of filthy little bars with miserable staff.... would you like to spend your holiday in one of those? It wouldn't take a lot of money to spring clean and give a lick of paint plus give a smile and a welcome to your clients.

There is business to be had... it may take a different approach to get it and it may be tougher but there is business to be done!
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Tenerife Seagull

If only it were that simple Rob.

If I look at our own circumstances. We are really feeling the effect of the weakening pound against the euro. It has meant that whereas three years ago we were eating most of our main meals in restaurants, we now only eat out once or twice a week. We would also visit bars five or six nights a week -we now limit that to one night a week. Also our investments are going downhill faster than a rabbit on a promise.

Although we are residents of Tenerife our pensions are paid in pounds, and I think that our situation is a reflection of most people in the UK. (Just for Funky's benefit - Link that statement to the third sentence of the post.)
We will get fewer visitors to the island, and those who do come will have less money to spend.
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rob

I was referring to people 'in business' or working, I realise that people relying on UK pensions that are paid in Sterling are in a different boat. However I have said before that if you're spending in Euros your pensions/investments should also be based in Euros wherever possible.
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Tenerife Seagull

I think that Karl was referring to the Tenerife holiday trade when he said that business was bad and that the immediate future looked grim. Those restaurants and bars relying on the UK trade will suffer, and there is nothing that they could do that would change that.

Holiday makers go through the same process as us. Their pounds need to be changed in to euros, and they receive a much worse exchange rate than a few months ago. On top of that they are not able to buy as much with their money as they were just a year ago.

Before they even set out UK residents have been hit by high fuel prices and inflation. Like all people in Europe they have to tighten their belts, because the inflationary trend covers the whole region.

There will be fewer people booking holidays abroad. People from the UK will get better value if they go to the USA as the pound has remained strong against the dollar. I think that this will be the trend for the foreseeable future.
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rob

karlb

rob

Funky is busy setting up his new business. You see, some of us believe that there's business to be done in Tenerife! Very Happy

Look at it this way..... When the going gets tough..... the tough get going!
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lisaloo

I used to go to this little restaurant in San Eugenio. They were very friendly, usually busy and very reasonable prices and we used to eat well. stay and have a few bottles of wine etc. Then every time we went back, something wasn't quite as good. They took on different staff who were not locals and did not speak good English or Spanish. The service went down hill, so did the quality of the food. Even the toilets, the state of the tablecloths etc became very poor. In the end we would cross the street so the owner did not see us and go elsewhere.

The point I am trying to get across is as he tried to cut corners instead of improving things he was making things 10 times worse and hardly anyone seems to go in any more. If I was on holiday, if a place is half empty it probably is no good. So I avoid it. There is too much competition in the tourist areas for business owners to not keep on top of their businesses.

rob

Yes, many businesses will fold, there are as you say far too many. 84% of all new businesses in Tenerife go bust or lose money so that they're sold on again. Why does the average Joe public with no business experience think that he will be one of the 16% that survives?
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karlb

Because of that 16% without experience a few will have the determination and hard work needed to succeed. A few.

They will not give up even when times look a bit bad, they will listen and act upon the advice given by people they can trust and have a good knowledge of Tenerife. They will not be know-alls who think they always know whats best. They will not place a fews ads dish out a few flyers and wait for the money to start rolling in. They will be constanttly looking for new and improved ways to maximise their business.

They will do their market research, advertising where it counts, leg work and try to hit their target client base.

When they think they can go on no longer will will pick themselves up and get on with it. No moaning or complaining, just get on with whatever they need to do.

It is hard work and a constant learning curve, you either go with it, gain knowledge and expand from it or you sink.
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rob

Excellent response karlb I'm going to nominate that as a champers post. When you consider that of that successful 16% there'll be a large majority of experienced businessmen then the chances of success among the inexperienced is a very small percentage!

Good luck to the workers among them!
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