The travel industry is one of the most important contributors to the Spanish economy, largely due to the flood of inbound travelers. Though it has the smallest population and lowest per capita gross domestic product (GDP) among the top five markets in Europe, Spain has outpaced Europe and each of the four larger markets (U.K., Germany, France and Italy) in terms of GDP growth over the past six years. Similarly, Spanish online travel market growth rates have surpassed those of the overall European online travel market, as well as those of each of the other four major European country markets.