The domestic tourism expenditure on transport equipment rental services in Spain has shown significant fluctuations between 2016 and 2023. Starting at 113 million euros in 2016, the expenditure saw a drastic dip in 2017 followed by a remarkable rise in 2018. Post-2018, the upward trend continued, peaking at 257.2 million euros in 2023. Notably, 2023 registered a 23.06% year-on-year increase. The Compound Annual Growth Rate (CAGR) for the last five years was an impressive 33.87%.
From 2021 to 2022, the expenditure grew by 33.12%, and from 2022 to 2023, it grew by 23.06%. The forecast from 2024 to 2028 projects a consistent upward trend, with an annual growth rate of 6.85%, expected to reach 397.8 million euros by 2028.
Future trends to watch for include the impacts of evolving traveler preferences towards sustainable tourism practices, technological advancements in the rental market, and potential economic fluctuations that could influence consumer spending habits. Monitoring these factors will be crucial for understanding the trajectory of domestic tourism expenditure on transport equipment rental services in Spain.
