Spain on course for another record-breaking year as tourism soars
Spain is on course for another record as the number of visitors this year is expected to hit 80 million with expenditure of 84 billion euros.
The Ministry of Energy, Tourism and the Digital Agenda estimates that the number of inbound tourists to Spain will increase by approximately seven per cent in the fourth quarter of 2017 and that total spending by these tourists will increase by ten per cent.
Hence, the year will close with a new record number of inbound tourists (in excess of 80 million) who will spend over 84 billion euros. These forecasts are made by the Quarterly Report on Tourism Figures (COYUNTUR) drawn up by the ministerial department through Turespaña.
According to this study, the demand for tourism services in the third quarter of 2017 remained strong and, although growth in arrivals and overnight stays levelled out, total spending increased due to upward trends in the figures on average spending, daily spending and spending per person. Total spending grew by 14.7% in the first months of 2017 and by 15.4% in July.
In terms of the main emitting markets, these posted growth in the third quarter of 2017 with a slight dip in strength when compared with the start of the year and with some differences between them. The British market maintained good figures on inbound tourists to Spain and total spending, but slightly reduced when compared to previous months. The same can be said of the German and French markets. In contrast, the Italian market continued to post the strong growth seen in previous months, while the Nordic market posted rapid growth.
As regards the arrival of tourists per destination autonomous region, the figures continued to rise albeit with a slight deceleration that was particularly felt in the Canary Islands, Catalonia, the Region of Valencia and the Region of Madrid. Other regions, such as Andalusia and the Balearic Islands, posted sustained growth. In terms of the total spending by inbound tourists to Spain, all regions posted growth and particularly strong figures were posted by Andalusia (up approximately 15%), the Canary Islands (over 12%) and the Region of Valencia (approximately 18%).
As regards domestic tourism, the number of trips made by residents both domestically and overseas has posted an upward trend so far this year: in June, overseas trips increased by 6.1%; while domestic trips increased by 4%.
Finally, to July 2017 (the most recent month with available data), revenue from tourism in the balance of payments shows rapid growth: from 11% in January to 16.4% in July. Furthermore, tourism activities continue to be a driving force for job creation and are contributing to the strength of the Spanish economy.