Forecast: Domestic Tourism Expenditure on Tourism Characteristic Products in Spain

The analysis of Domestic Tourism Expenditure on Tourism Characteristic Products in Spain indicates significant fluctuations between 2013 and 2023, expressed in billion euros. The expenditures peaked in 2015 at 57.17 billion euros and reached a low in 2020 due to the pandemic, with 23.02 billion euros.

From 2021 onwards, the expenditure has been recovering gradually. Specifically, 2023 saw a year-on-year increase of 9.25%, but overall, the last 5 years show an average annual decline, with a CAGR of -1.43% forecasted up to 2028. This implies that, while there was a notable recovery from the pandemic lows, the growth is expected to slow down over the next five years.

Future trends to watch for include:

• Potential impacts of economic conditions on domestic tourism expenditure.
• The role of digital innovations and emerging technologies in enhancing the tourism product offerings.
• Consumer preferences shifting towards sustainable and experiential travel options.