Forecast: Inbound Tourism Expenditure on Tourism Characteristic Products in Spain

Inbound tourism expenditure in Spain exhibited a generally upward trend from 2013 to 2019, experiencing a significant disruption in 2020 due to the COVID-19 pandemic. The sharp decline of 76.69% in 2020 was followed by a strong recovery in 2021 with 183.58% growth. Subsequent years showed a positive trajectory, with the expenditure reaching 74.36 billion euros in 2023, reflecting a year-on-year increase of 25.45%. Over the last five years, the compound annual growth rate (CAGR) was 5.76%, indicating a robust recovery and growth pattern post-pandemic.

Future forecasts from 2024 to 2028 predict continued growth in inbound tourism expenditure, with a forecasted CAGR of 3.95%. By 2028, the expenditure is projected to reach 95.45 billion euros, with a total forecasted growth rate of 21.35% over the five-year period. This positive outlook suggests increasing attractiveness and competitiveness of Spain as a tourist destination.

Trends to watch for in the future include:

• Impact of global economic conditions on discretionary travel spending.
• Changes in tourist behaviors and preferences post-pandemic.
• Innovations in tourism products and services catering to evolving consumer demands.
• Influence of sustainability and eco-tourism trends on travel choices.
• Government policies and international travel regulations affecting tourism flows.