Tourism contribution to Spanish GDP 2006-2023

The value of goods and services offered by the tourism sector in Spain increased by more than 60 percent in 2022, recovering entirely from the impact of the coronavirus (COVID-19) pandemic. In 2023, the tourism GDP in the Iberian country is expected to go up 3.1 percent. Prior to this crisis, the sector was one of the leading engines of growth for the Spanish economy, adding nearly 155 billion euros to the country’s financial resources.

Holidaymakers in Spain

France was the leading source country for inbound tourism in Spain in 2020. Although British tourists in Spain have traditionally been the largest visitor group in the Mediterranean country, the number of travelers from Britain declined by almost 15 million in 2020, most likely due to difficulties created as a result of the COVID-19 pandemic. Notably, the share of domestic tourist expenditure was higher than the share of international tourist expenditure in the country in 2020, which was different from the share of tourism expenditure in Spain prior to COVID-19.

COVID-19 impact on the Spanish tourism industry

As of December 2021, the travel and tourism sector in Spain was still recovering from the economy-wide disruptions caused by the global health crisis. The monthly growth rate of tourism GDP in Spain was lower in every month of 2020 and 2021 compared to the same month in 2019. Additionally, businesses within the sector reported lower revenues since the beginning of the pandemic, with negative earnings growth rates in Spanish tourism companies in 2020 and 2021 compared to reported earnings in 2019.