Key Market Indicators
**Revenue of Spanish Accommodation Services Expected to Hit €40 Billion by 2028** Spain's accommodation services sector is projected to see significant growth, with revenue expected to reach €40 billion by 2028, up from approximately €34 billion in 2023. This marks an average annual growth rate of 2.5%. The Spanish market has shown a robust increase of 4.9% year on year since 2010. As of 2023, Spain holds the second spot in the European market, trailing behind Germany, which also posted revenues of around €34 billion. Following Spain in the revenue rankings are France and the United Kingdom. **Spanish Accommodation Expenditure to Rise to €17 Billion by 2028** Expenditure on accommodation in Spain is also on the rise, forecasted to reach nearly €17 billion by 2028, up from €14 billion in 2023. This translates to an annual compound growth rate of 2.4%. Since 2000, demand in Spain has increased by 4.3% annually. In 2023, Spain ranked fifth in Europe for accommodation expenditure, with Germany leading the pack at €14 billion, followed by Italy, France, and Germany again in subsequent positions. **Bedplaces in Spain's Accommodation Establishments to Exceed 1 Million by 2028** The number of bedplaces in Spanish accommodation establishments is set to surpass 1 million by 2028, growing from nearly 982,000 in 2023. This growth rate averages 1.2% annually. Since 1995, Spain's supply of accommodation bedplaces has increased by 2.2% each year. In 2023, Spain held the second position in Europe for the number of bedplaces, with Italy leading at around 982,000. Trailing Spain in this ranking are France and Germany. These figures underscore Spain's strong performance and growth trajectory in the European accommodation market, positioning the country as a key player in the sector.