Real estate investors in Spain will be delighted by news that the European destination has been tipped to become the top vacation hot spot this summer, regardless of growing rivalry.

The claims are sure to be greeted at a time when the Spanish property market remains depressing amidst declining prices and a meager exchange rate.

In the meantime, the Association of Independence Tour Operators (AITO) has announced that Spain will fight off competition from promising destinations like Turkey and Egypt to retain its place as the most famous place for sun-starved Brits.

According to the statement released by AITO, “Turkey and Egypt are already showing very strong growth as they did in 2009, partly due to them being outside of the eurozone. But we know that by the end of the year, Spain will once again be by far the most popular holiday destination for our customers.”

Further, the study conducted by the Wanderlust and AITO, consumer confidence is returning to the travel market and growing number of tour operators are reporting increase in the number of Spanish rental bookings.