LONDON, May 19, 2016 /PRNewswire/ -- Summary
Spain's inbound tourism recorded another successful year with strong growth in arrivals. The recently improved economic scenario means Spaniards prefer outbound trips over domestic tourism. Although, the unemployment rate is still high, GDP at constant prices grew by 1% in 2014 and 3% in 2015. Domestic trips declined by -3.4% in 2014 and -1.1% in 2015, while outbound trips increased by 4.8% and 2% respectively.
- With a record number of international arrivals, Spain's tourism sector continued to expand at a healthy pace in 2015. Inbound trips increased by 4.8% in 2015, totaling 68.1 million, while expenditure expanded by 3.3% valuing EUR60.2 billion (US$66.8 billion). This is not surprising as the country topped Travel and Tourism Competitiveness Index (TTCI) global rankings for the first time, according to The Travel and Tourism Competitiveness Report 2015 by the World Economic Forum (WEF). Furthermore, Spain's tourism benefitted from the tough situation in a few countries in North Africa and the Middle East (for instance, extremist attacks in Tunisia), which are competitors to Spain in the sun and beach category. However, arrivals from Norway (the 10th largest source market with 1.5 million trips) fell by 2% in 2015 due to economic problems in that country. Driven by an improving economic scenario, outbound tourism also registered growth in 2015 with trips increasing by 2% and expenditure by 13.6%. During 2016-2020, inbound trips are projected to grow at a CAGR of 3.3%, reaching 80.3 million by 2020. Outbound trips are expected to increase to 13.2 million by 2020
- There has been strong growth in Chinese arrivals to Spain in recent years, with trips growing at a CAGR of 17.4% during 2009-2014. Unlike most travelers who visit Spain for the sun and the beaches, the Chinese prefer tourism related to gastronomy, shopping (luxury items), and culture
- The moratorium put in place by the mayor of Barcelona, Ada Colau Ballano, regarding approval of new hotels and short-term rentals until July 2016 is expected to affect new room supply. This is likely to result in the delay of 35 new projects (3,000 rooms). Barcelona is becoming uninhabitable for residents due to the surge in tourists. The moratorium is part of a plan that is being developed to ensure that Barcelona does not end up like Venice; the population has fallen from 180,000 in the 1960s to 60,000 at present, as the city welcomes over two million visitors annually
Canadean's report - Travel and Tourism in Spain to 2020 - provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.
What else does this report offer?
- Historic and forecast tourist volumes covering the entire Spanish Travel and Tourism sector
- Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others
- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics
- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers
Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to Spain's Travel and Tourism sector
- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities
- Direct promotional efforts on the most promising markets by identifying the key source and destination countries
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