Tourism will have fully recovered in 2023 from the bad years the pandemic has endured. In the first quarter alone, the sector received 17,200 million euros from foreign tourism that visited Spain from January to March, which is 12% more than the 15,394 million the sector brought in during the same period of 2019, according to data published by the INE this Thursday . These revenues mark a historic record for tourism and represent 45% more than in the first quarter of last year. In the month of March alone, foreign tourists spent a total of €6,657 million between trips and stays in Spain, 30% more than a year ago and 10% more than in 2019, before the pandemic broke out. Inflation has been the determining factor explaining this data, with an average spend per tourist of almost 170 euros per day (compared to 150 in 2019). Especially if one takes into account that the number of visitors who arrived in Spain in the first quarter was 3.5% lower than the figures for 2019. With half a million fewer tourists, 1,800 million euros more has therefore been imported. Average daily income Each foreign tourist in Spain spent 170 euros per day in the first quarter, 13% more than in 2019. Spain received the visit of 13.7 million people compared to 14.2 million in the first quarter of 2019. They came mainly from the United Kingdom (2.6 million people), France (more than 1.7 million) and Germany (with almost 1.7 million tourists). The increase in tourists from the Netherlands stands out compared to those who came before the pandemic (604,000 people, 11% more) and from Latin America, from which 823,000 people visited Spain between January and March, 13% more than in 2019. receiving the most tourists in the first quarter were the Canary Islands, with more than 3.7 million visitors (1% more than before the pandemic) spending €5.4 billion (16% more). This is followed by Catalonia, with almost 2.8 million tourists (still 8% less) who have spent 2,800 million euros in this community (12% less than in 2019) and Andalusia, with 2 million visitors who have spent 2,400 million euros (13 % more). . The tourism employer Exceltur indicated a few days ago that prices in the sector have risen by an average of 7.7% in the first quarter compared to 2022 and that sales are 10.8% above the 2019 figures. a greater tourist demand which – together with the increase in costs – has led to an increase in the prices of accommodation, restaurants and transport. A very positive month of April These figures do not yet take into account the “excellent” performance of Easter, which fell in April, so the INE has not yet published the data. Exceltur’s executive president, José Luis Zoreda, pointed out that the forecasts are that the GDP of tourism will reach 172,200 million euros in 2023, 9% more than what was predicted three months ago. The data already released for the month of April is the activity of the services sector, which continued to grow strongly in Spain thanks to strong demand despite high inflation. The PMI index came in at 57.9 points, three tenths more than in March. “The service sector remains in good shape,” said Cyrus de la Rubia, chief economist at the Hamburg Commercial Bank, highlighting the “excellent” demand situation and good hotel occupancy data given the “critical” importance of tourism to the Spanish service sector.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
