The national parliament introduced a visa for digital nomads by passing a startup law earlier this year.
To qualify for the Spanish Digital Nomad program, applicants must be foreigners working abroad, self-employed, or employed by a non-Spanish company operating outside of Spain.
Remote workers must also earn at least €2,334 per month or €28,000 per year to meet the government’s minimum income criterion. Spain allows visitors to stay for up to one year. After that, they can apply for a three-year residence permit and a two-year extension. After five years, they can be considered for permanent residence.
Hotel Projects
According to data from the THP database, the number of records for this plan has surged in the past year, increasing from 75 sites in 2022 to 157 projects, which now encompass a total of 22,170 rooms. This substantial growth indicates that the program is poised to have a significant impact on the considerable upswing in the construction of high-end hotels in Spain.
Statistics indicate that, over the next three years, a minimum of $4.2 billion will be directed toward the development of accommodations tailored to the upper-tier segment of the market.
The Spanish capital, Madrid, will be the center of development. Here, at least 16 projects are already underway, double the number of Cordoba in the south, which ranks second with eight projects. The city of Valencia on the east coast and its neighbors on the south coast, Cadiz and Malaga, are tied for third place with at least seven projects each.
IHG Hotels & Resorts and Hilton Worldwide all have at least seven projects underway, while Melia Hotels International, a Spanish company, has at least six sites planned.
Hotel Indigo Jerez, owned by IHG, is one of the latest developments on the agenda. This 78-room hotel, which will consist of two historic Andalusian buildings, has been commissioned as a conversion project in collaboration with Meravo Management AS and is scheduled to open in early 2025.
Another major announcement this year was the Banyan Tree Group’s Angsana Real de la Quinta Benahavis Marbella. The development will include a hotel, branded condominiums, apartments, and commercial space and will mark the debut of the Angsana Resorts & Spa brand. The resort is expected to be completed in 2026 and will include 90 suites and guestrooms that embrace nature.