Tourism Sector Outlook for 2024 Across the Costa Blanca
The tourism sector is charting its own growth path in 2024, with solid data supporting a broader industry expansion and a socio economic impact that continues to rise. The recent opening of a two star hotel in Finestrat marks the ninth establishment in the area, a figure that reflects investor appetite in the province even though it sits below the peak of the previous year.
So far this year, the Costa Blanca has added nine new properties to the market, offering a total of 743 beds. The Marina Alta region led with five new licenses, including two in Xàbia, two in Ondara, and one in Teulada, followed by two new openings in Finestrat within Marina Baixa. Rounding out the rest were developments in l’Alacantí (San Vicente del Raspeig) and Baix Vinalopó (Elche). The designs vary in capacity, with openings ranging from 180 to as few as 10 rooms. Notably, about half of the new establishments are four-star properties.
Amid record occupancy figures and rising tourism spend, a new milestone crossed—80,000 estimated beds, according to the National Institute of Statistics. The milestone was briefly surpassed in August 2022, and current estimates show 80,502 beds drawn from 38,432 rooms across 563 properties. Year over year, May to May growth stood at 1.3 percent in openings, 2 percent in rooms, and 10 percent in establishments.
The Growth Barriers
According to Fede Fuster, president of Hosbec, the current moment is positive for the sector. He notes that the Valencia Community has become a focal point for many new hotel projects and investments by both local and international operators. Fuster highlights that Castellón is leading in new openings and category upgrades, while Valencia trails, and Alicante province shows the strongest growth.
In his analysis, Fuster points to factors that explain the present landscape. Although openings and activity are up, growth has slowed relative to the pace seen earlier. INE data show the Costa Blanca hosting 563 operating establishments in May 2024, up from 512 in May 2023. The gap between these numbers and the regulatory tallies from Turisme de la Generalitat Valenciana is not perfectly aligned, but the broader picture remains clear. The sector continues to fault bureaucratic hurdles that hamper launching new projects, a friction amplified by recent moratoria in some towns.
Another major drag is workforce availability. Fuster notes plans stalled due to shortages of skilled staff for upgraded categories and services. The current response involves assembling teams in advance to ensure high quality service from day one.
Nonetheless, the market still reads the territory as a strong anchor of opportunity. Fuster closes with a hopeful note, expecting new investments to bring more and better labor forces. He also asserts that the rise in hotel capacity is accompanied by improved quality, which in turn attracts tourists with higher purchasing power.
The latest tourism expenditure data reinforce the positive signal from Hosbec’s president. In particular, the four star segment remains popular in Benidorm, which concentrates a large share of supply. The trend in new openings underlines investor confidence in the region.
By May, the Valencia Community welcomed 4,189,742 international tourists, a gain of nearly 700,000 versus the previous year. In terms of economic impact, the spend by these visitors reached 5.033 billion euros in the first five months, a 28.31 percent rise from the same period in 2023. These figures illustrate how continued investment translates into broader economic benefits for the coast and its communities.
Related posts:
Costa Blanca’s Film and Tourism Spotlight at Fitur 2024 Costa Blanca at Fitur: Air Connectivity, Xi’an Warriors, and Virtual Reality Exhibits Blanca Paloma and the Family-Rooted Journey to Eurovision 2023 Rewrite Result Magic Costa Blanca expands with Marina d’Or and Terra Natura resort Benidorm’s Hotel Chains in Focus: Growth, Revenue, and the Costa Blanca Market Costa Blanca Sevens 36th Edition Returns to Villajoyosa Costa Blanca Sotheby’s International Realty: Luxury Living and Global Reach Spanish Coastal Real Estate: Price Trends, Supply Shifts, and Regional Variations Costa Blanca Rugby Sevens Returns to Alicante with Major Prize and Global Participation Blanca Paloma and the Eurovision moment: a Spain-centered journey to the finals HOSBEC: Growth, Strategy, and Leadership in Valencian Tourism