Spain Travel and Tourism Market Profile, Strategic Insights and Future Outlook 2020 by Radiant Insights
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- Date Submitted: 07/07/2016 03:58 AM
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Spain Travel and Tourism Market Trends, Market Profile,
Strategic Insights and Future Outlook 2020
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.
Browse Full Report with TOC @ http://www.radiantinsights.com/research/travel-and-tourism-in-spain-to-2020
Key Findings
- 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...
Strategic Insights and Future Outlook 2020
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.
Browse Full Report with TOC @ http://www.radiantinsights.com/research/travel-and-tourism-in-spain-to-2020
Key Findings
- 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...