Given this forecast of continued growth in tourism demand in the coming years, the report recommends “efficient management of tourism flows” to minimize negative impacts on the local population and preserve natural and cultural resources.
Furthermore, CaixaBank Research predicts, as the Spanish Minister of Industry and Tourism, Jordi Hereu, had already anticipated, that 2024 will end with 94 million international tourists, a “very significant growth”. Furthermore, the average expenditure per person increased to R$1,342, R$245 more than in 2019.
CaixaBank Reserach's analysis states that “tourism growth was driven by international demand, which represents 75% of total spending, while domestic demand saw a more moderate increase, despite positive figures, as Spaniards resumed their international travel”.
The analysis also highlights that the sector “maintained its competitiveness even with price increases above the economy average, in line with trends in competing countries such as Portugal, Greece and Italy”.
The numbers also indicate that, in 2024, all the main issuing markets have recovered. The UK, which accounts for 19.7% of arrivals and 18% of spending, has returned to 2019 levels after challenges related to Brexit and the post-pandemic economic crisis, and long-haul markets such as the US, Latin America and Asia , also contributed significantly, with Asia being the last to recover.
The restaurant sector also recorded strong performance: 62% of national revenue came from local consumers, although the average ticket for foreign tourists is higher, with an average growth of 20% in 2024, compared to 10% for residents.
The report highlighted the seasonality trend, indicating that July and August continue to be the strongest months (23% of arrivals), but growth outside the high season is “more expressive”, concluding that this trend is old and is currently led by German, British and Italian tourists.