Forecast: Internal Tourism Expenditure on Tourism Characteristic Products in Spain

The internal tourism expenditure on tourism characteristic products in Spain saw several fluctuations from 2013 to 2023. Between 2013 and 2019, the expenditure demonstrated steady growth with occasional dips, peaking at 107.54 billion Euros just before the pandemic. The most significant decline occurred in 2020 with a sharp -65.32% fall due to COVID-19, followed by a strong recovery in the subsequent years. By 2023, the value reached 112.66 billion Euros, marking an 18.44% increase year-on-year and demonstrating a solid recovery trajectory with a 2.13% CAGR over the past five years.

Future trends to watch for in the tourism sector include:

• Continued recovery and growth beyond pre-pandemic levels as projected by the forecasted CAGR of 2.08% over the next five years.
• Potential impacts of economic fluctuations, tourism policies, and global travel trends on spending patterns.
• Innovations in the tourism industry that may drive changes in consumer behavior and expenditure.