Internal Tourism Expenditure on Transport Equipment Rental Services in Spain has shown significant fluctuations over the years. The expenditure dropped sharply in 2020 due to the COVID-19 pandemic, reaching a low of 257 million Euros. Since then, it has experienced a recovery with year-on-year growths of 128.29% in 2021, 38.5% in 2022, and 21.19% in 2023, with the value standing at 984.8 million Euros in 2023. From 2016 to 2023, the Compound Annual Growth Rate (CAGR) was largely erratic but showed an overall upward recovery trend post-2020.
The forecast from 2024 to 2028 indicates a modest but steady growth, with a five-year CAGR of 2.76% and an overall forecasted growth rate of 14.6% by 2028. The expenditure is expected to reach 1,170 million Euros by 2028.
Future trends to watch for include:
- Continued recovery and stabilization of tourism expenditure post-pandemic.
- The impact of rising fuel costs and sustainability initiatives on transport equipment rental services.
- Consumer behavior changes and their long-term effect on tourism and rental markets.
