VALENCIA Province has double the amount of shopping surface than any other major European region.
This surprising statistic was revealed today (Thursday June 24) by a leading national consultancy agency, who added that Valencia has 25% more shopping space per inhabitant than the Spanish average.
Alicante and Castellon Provinces are also said to be above the national medium, with the region due to add an extra 83,130 square metres of shops over the next few years.
The analysts warn of the ‘saturation’ of these areas plus Madrid, Zaragoza and Murcia, suggesting that the Spanish commercial sector is in need of a thorough overhaul to offset the ever-growing effects of online shopping.
Sales in large shopping centres fell by 22.5% last year while internet commerce increased by 23%, leading the experts to suggest that there is currently a surplus of surface area dedicated to shopping precincts in the Valencia region.
According to the Spanish Association of Shopping Centres, the Valencian Community has 63 commercial complexes covering over two million square metres.
With regards to Spain as a whole, the consultancy reveals that there are 345 square metres for every 1,000 inhabitants – much higher than other countries such as Germany (181), Italy (228) and even Portugal (275).
By provinces, Valencia has 456 square metres per 1,000 inhabitants, while Alicante has 360 and Castellon 329.
Going forward, the analysts predict that the combination of excessive offer and online shopping will lead to a new model of consumption whereby customers will largely refrain from travelling large distances and buy more locally.