Forecast: Inbound Tourism Expenditure on Accommodation Services for Visitors in Spain

Inbound tourism expenditure on accommodation services in Spain has demonstrated significant growth over the years, with actual data showing a remarkable increase from €18.45 billion in 2016 to €30.93 billion in 2023. This growth can be analyzed through the varying year-on-year percentages, notably peaking in 2021 with a staggering 178.71% increase post-pandemic recovery. The average annual growth rate (CAGR) over the past five years stood at 6.12%, reaching a peak of near €30.93 billion in 2023. This data indicates a robust recovery trajectory from the pandemic dip in 2020.

Forecasts suggest continued growth and a stable upward trend, with projections indicating an inbound tourism expenditure on accommodation reaching €40.5 billion by 2028. The forecasted CAGR over the next five years is 4.26%, pointing to a moderate yet sustained growth rate.

Future trends to watch for include:

• Impact of global economic conditions on travel spending.
• Development and enhancement of tourism infrastructure in Spain.
• Changes in travel preferences post-pandemic and their effect on accommodation services demand.
• Influence of digital transformation and sustainability practices on tourism policies.