Forecast: Domestic Tourism Expenditure on Accommodation Services for Visitors in Spain

Over the past several years, domestic tourism expenditure on accommodation services for visitors in Spain has shown significant fluctuations. The expenditure peaked in 2019 at €12.5 billion before experiencing a sharp decline due to the COVID-19 pandemic, dropping by almost 57% in 2020 to €5.38 billion. As the sector began to recover, the year-on-year variation saw substantial growth, with an increase of 34.29% in 2021, followed by a 16.11% rise in 2022, and a 5.38% increase in 2023, reaching €8.85 billion in value.

The outlook for the coming years, however, anticipates a downward trend, with forecasted expenditures decreasing annually, reaching €5.8 billion by 2028. The projected compound annual growth rate (CAGR) over the next five years is -6.74%, signaling a contraction in the market.

• 2017: +9.81% YoY
• 2018: +3.66% YoY
• 2019: +6.65% YoY
• 2020: -56.94% YoY
• 2021: +34.29% YoY, -6.83% 5-year CAGR
• 2022: +16.11% YoY, -5.79% 5-year CAGR
• 2023: +5.38% YoY, -5.48% 5-year CAGR
• 2028: -6.74% forecast 5-year CAGR, -29.46% forecast 5-year growth rate

Future trends to watch for include economic recovery, changes in travel behaviors post-pandemic, and potential new regulations or initiatives that could impact domestic tourism. Additionally, shifts towards sustainable tourism and increased competition from alternative accommodation services could further influence expenditure patterns in this sector.