Spain: Tourism GDP expected to exceed 200 billion euros in 2024, a record

Hibapress
Spain’s tourism gross domestic product should “for the first time exceed 200 billion euros” in 2024, and beat its previous record of 2023, according to estimates by the employers’ organization Exceltur.
Tourism activity, a pillar of the Spanish economy, should stand at 202.651 billion, an increase of 8.6% compared to 2023 which had already experienced “a spectacular growth rate”, explained the vice-president. of Exceltur, José Luis Zoreda, Tuesday in Madrid during a press conference.
In accordance with Exceltur’s estimates, tourism activity would then represent 13.3% of Spanish GDP, we note, noting that during the first quarter, tourism activity increased by 13.8% in the country.
According to Exceltur, Spain benefits from its “favorable security situation compared to other destinations in the Eastern Mediterranean in the face of the escalation in the conflict in the Middle East” but also from the “resumption of travel at a global level , particularly in the Asian market” after the pandemic which had a strong impact on the sector.
The second largest tourist destination in the world behind France, Spain also benefits from the increase in air connections and the diversification of the rail offer with the arrival of new operators.
In 2023, the country had received a record number of 85.1 million international tourists, mainly British, French and German, according to the National Institute of Statistics (INE).