The total tourism GDP in Spain has shown a generally positive trend from 2013 to 2023, increasing from 10.76 units of GDP in 2013 to 12.97 units in 2023. The year-on-year growth has generally been positive, with notable peaks in years such as 2017, which saw a 7.52% increase. The most recent year-on-year growth for 2023 was 1.1%. Over the last five years, the compound annual growth rate (CAGR) has been 1.08%. From 2024 onwards, forecasted data suggests continuous growth with an expected CAGR of 0.79% and a five-year growth rate of 4.02% by 2028.
Future trends to watch for:
- Potential impacts of global economic fluctuations on tourism expenditure.
- Technological advancements in travel booking and experiences.
- Post-pandemic recovery patterns and their influence on travel behavior.
- Environmental and sustainability efforts shaping tourism policies.
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