Spain’s vital tourism sector is anticipating a notable slowdown in summer revenue growth this year, as global economic uncertainty and softer consumer spending take their toll.
According to the latest outlook from Exceltur, the alliance representing Spain’s leading tourism companies, the sector is forecast to grow by just 2.7% over the summer quarter, a significant deceleration compared to the 6.3% increase recorded in 2023. The organisation points to a combination of international and domestic factors contributing to a more subdued season.
While the number of foreign visitors remains steady — buoyed by Spain’s continued appeal and relative safety — travellers are reportedly spending less per trip. Exceltur attributes this trend to weaker economic conditions in key markets such as Germany and the United Kingdom, where inflation and high interest rates have squeezed household budgets.
Additionally, growing concern over geopolitical tensions and potential trade barriers, particularly involving the United States and China, has created an air of caution among international tour operators and long-haul travellers. The uncertainty has reportedly impacted forward bookings in sectors like luxury travel and conference tourism.
Domestically, Spaniards are also tightening their belts. Rising mortgage repayments and stagnant wage growth have led to a decline in local tourism demand, especially in non-coastal areas. Hotels and restaurants in regions such as Castilla-La Mancha and Extremadura are reporting weaker bookings compared to coastal hotspots like the Costa del Sol or the Balearics.
Despite the more cautious outlook, Exceltur emphasised that Spain’s overall tourism economy remains resilient, and the slowdown represents a normalisation following two years of post-pandemic rebound. The sector is still expected to contribute significantly to national GDP, and the government has reaffirmed its commitment to sustainable tourism development.
The industry is now focused on diversifying offers, targeting off-peak travel, and strengthening ties with emerging markets in Latin America and Asia. It is also calling for additional support from regional authorities to boost domestic tourism campaigns.
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