Tourism is one of the most important economic sectors in the world. After the ravages caused by the coronavirus health crisis, the situation must be redirected towards recovery and opportunities , opportunities to rethink a new approach so that tourism is better, more sustainable, inclusive and resilient. In addition, it is a prevailing need since this sector is of vital importance for the development of our country .
In this sense, BBVA, in the absence of its usual Tourism Sessions, is launching some videos this year to reinforce its commitment to the sector. The closing of this audiovisual initiative has had the participation of Ignacio Sacristan, South Regional Director of Corporate and Business Banking and Jose Garcia Casteleiro , Head of Corporate&Investment Banking Spain.
For Ignacio Sacristan , the reality is that we are living through “complicated times due to the health crisis, a problem that has affected a sector as relevant to the national economy as tourism “. The panorama seems complicated. For this reason, Sacristan sees it as essential to work together and in a cohesive manner. In addition, people must feel BBVA “close, that they have the entity to be able to aspire to continue providing the best services “. Also, he indicated that during the crisis the sector “has been transformed, strengthened in terms of efficiency andhas accumulated the necessary ingredients in terms of cultural offer, services, infrastructures and security”.
In this context of greater security and trust on which the Southern Regional Director of Business and Corporation Banking bases his intervention, it serves so that “comprehensive recovery is a done” . Tourism “will emerge stronger in our geography” . On this road to recovery, BBVA “wants to be there, accompanying the world of financing, internationalization, strategic advice, the digital transition and, of course, in sustainability “. In short, “in the evolution and growth of all your businesses”.
Investment solutions in the current context
To talk about investment solutions in the current context and the best decision-making, Jose Garcia Casteleiro , Head of Corporate&Investment Banking Spain, stated that “there are great opportunities in the tourism sector” and BBVA has a determining role when it comes to help achieve these goals.
The environment in which we find ourselves is “very complex” because, after the worst moments of the pandemic, concepts such as “inflation, supply problems, bottlenecks or energy costs” are now appearing , among others. In addition, the word “disruption” makes an appearance as the best way to describe the moment in which we find ourselves.. This process of disruption is due to the opportunities offered by “technology in all digitization processes “, but also emerges as a priority subject “decarbonize the economy to enter a value creation process in which sustainability is a high priority “.
BBVA is prepared to ” accompany all its customers in a stage of growth and the bank’s capacity is available to all to advise on how to deal with the cost of energy.” To do this, “the large producers of clean renewable energy have been put in contact with those that need the greatest demand and that have been affected by this higher cost.” In this way, from BBVA “PPA operations that also allow raising very long-term financing”. In addition to this, “we offer traditional advisory alternatives seeking efficient financing structures that combine bank financing , more flexible, with others that are more expensive and rigid but that allow greater terms such as institutional investors “.
We are in a period, according to Jose Garcia, of ” great opportunities for non-organic growth and at BBVA we have already been advisors to several processes of buying and selling hotel assets in 2021″. this that there is “a lot of interest in investing in this sector, a lot of foreign capital wanting to see opportunities to purchase assets in Spain.”
For all these reasons, BBVA wants to offer its “advisory capacities” if the client considers that it is time to sell “any asset”, but without forgetting “to grow and invest without compromising the balance sheet and assuming too many risks”. In short, to be “the best partner that accompanies this growth” .
