Conwy, in North Wales, is undergoing a major renaissance, thanks to the area’s booming tourist industry.
A new infographic highlights just how big a part tourism is playing in the evolution of this corner of North Wales. In the last five years, summer hotel bookings have increased by 66 per cent, driving up tourist spend to £90 million in 2015 in Llandudno alone.
The industry’s impact is keenly felt by the local economy; as well as bringing in a sizeable revenue, tourism now accounts for more than 10,000 full-time jobs in the region.
The area has also been highlighted by Which? Mortgage Advisers as a top UK hotspot for either investors or first time buyers. The consumer advice group analysed figures from the Land Registry to reveal where you can buy a home under the national average of £200,000, in areas that have seen the biggest increase in property prices in the last year. Conwy’s LL27 postcode was ranked second.
The research behind the infographic comes from Select Portfolio, who recently launched hotel investment Caer Rhun Hall, which has units ranging from £75,000 to £180,000 and offers an annual NET rental income of 10 per cent.
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