In 2023, internal tourism consumption of road passenger transport services in Spain stood at 3.94 billion Euros, marking an 18.12% year-on-year increase. The sector experienced significant growth after a drastic decline in 2020 due to the COVID-19 pandemic. The average annual growth rate (CAGR) from 2022 to 2023 was an impressive 50.75%, reflecting a substantial recovery phase.
Since 2016, the market has witnessed various fluctuations. The sector showed a steady rise except for the pandemic-affected 2020, which saw a negative year-on-year variation of -68.31%. Post-2020, the market rebounded, noting a 115.69% surge in 2021 and continued positive trends in the subsequent years. Moving forward, the forecasted CAGR from 2024 to 2028 is 0.71%, indicating a more moderate yet stable growth pattern.
Future trends to watch for include the impact of sustainability initiatives on travel behavior, advancements in transportation technology, and potential economic fluctuations that could influence tourism consumption patterns. Additionally, the sector may experience variations due to policy changes and evolving consumer preferences.
