HE tourism It is accelerating towards a historic year. The industry is encouraging a full reopening and is expecting new records in almost all records after the total collapse during the covid pandemic. The tourism sector takes advantage of this opportunity Explosion in demand from local and foreign travelers as well as the sharp rise in prices even though general inflation is beginning to be brought under control.
The Spanish tourism sector, which completed a recovery in activity levels before the pandemic last year and reached new historic highs in business, income and employment. Faced with uncertain changes in consumption patterns number of passengers, which can affect the bulk of the business.
funcasThe economic ‘think tank’ of the CECA banking association, the former confederation of savings banks, warns in a study about the uncertain future of tourism activity. due to adjustments in tourist spending, increasingly shorter stays or the impact of the economic slowdown in European countries. Changes in tourist behavior that threaten to impact demand for the services offered by the sector.
“Among businessmen in the sector some concerns and doubts about the near future. This concern relates to expectations of a slowdown in the European economy and the increasing competitiveness of the international tourism market, but is also indicative of possible changes in tourist behavior that could harm the demand for services provided by the sector.” We warn Funcas analysts. “There are reports of adjustments in tourism expenditure per capita and changes in the temporal pattern of consumption there are signs; These, together with the negative macroeconomic outlook in Europe (particularly Germany and the UK), create uncertainty in the sector.”
Decline of key markets
Tourism is registering Changes in consumption in major emitting countries, due to its enormous weight in the total revenues and revenues of the sector. This year (between January and July) passengers from the United Kingdom (-6.3%), Germany (-8.7%) and Scandinavian European countries (-13.2%) compared to the same period in 2019. There was a decrease. pre covid.
This decline could be very significant in the sector because these are the source markets with the highest average spend per tourist (€1,427 for the Scandinavians; €1,188 for the Germans and €1,106 for the British). Additionally, demand for tourist services by citizens of the United Kingdom and Germany is seasonally lower than average. That is, tourists from both countries visit Spain more than tourists from other countries and regions outside of the peak summer season; This is particularly positive for the sector to expand activity, prevent waste of resources and maintain sustainable development. work.
In parallel, itThe length of stay of international tourists is getting shorter. Statistics show a gradual decrease in two-week stays for international travelers and an increase in the predominance of 4- to 7-day trips. “This shortening in length of stay is probably due to adjustments made in household budgets due to inflation. If this trend towards shorter stays is consolidated, the positive impact of the recovery in travel numbers on the industry’s total revenue can be negated, since shorter stays generally mean more moderate expenses,” says Funcas.
A record year
Following the collapse due to the pandemic, the sector has once again become the economic engine of the country’s economy, showing the capacity to recover faster than expected. It will continue to be approved this way this year. Tourism GDP to climb to record throughout the year According to estimates of the lobby Exceltur, which brings together nearly thirty of the largest companies in the sector, a figure of over 178.8 billion euros (including a growth of 12% compared to last year and an increase of 13.6% compared to pre-covid 2019 levels Meliá, NH, Iberia, Globalia, Riu or Amadeus). Records that will consolidate tourism with a national economic backbone, equalizing its contribution to 12.6% of Spanish GDP as a whole to its pre-covid weight.
The strong growth in tourist activities is largely supported by the following tourism activities: increase in rates It is a practice generally used by companies. In fact, excluding the impact of price increases, the sector’s GDP is still slightly below pre-pandemic levels in real terms. According to research service Exceltur, without the impact of the rate increase, tourism GDP is still 1% lower than in 2019.
The country’s tourism revenue, which is spent by international travelers during their stay and effectively affects the Spanish economy, will overturn pre-pandemic levels and mark a new era. Historical maximum with 82 billion euros According to Exceltur, within this year. The new level expected for this year represents an increase of 18% compared to the 69.1 billion euros reached last year and a 15% increase compared to the previous record of 71.2 billion euros recorded in 2019, the last full year without the pandemic. The biggest economic contribution from foreign visitors comes from the combined effect of booming demand and rising rates.