A tourism model under siege in Spain
- December 2019
- Phocuswright Research
This report presents a high-level summary of the Spanish travel market, focusing on the need-to-know developments, trends and stories that are shaping the market now. For more detailed information, data and analysis on Spain's travel market, check out the following related publications:
The Spanish travel industry has celebrated several years of strong inbound visitation and a healthy domestic market — but signs indicate that the party may soon be coming to an end. In 2018, 82.8 million international travelers arrived in Spain, an increase of 1% year over year, and foreign tourists increased their travel spend 3.3%. While tourism forecasts for 2019 remained positive in the first half of the year, second-half performance is expected to decline due to the Thomas Cook collapse, the Brexit delay and violent protests in Catalonia.
Even as these unfolding events impact visitation, Spain faces longer-term tourism challenges. Tourism is crucial to the Spanish economy, accounting for 13% of the country's GDP. Yet the industry's heavy reliance on the beach holiday category — roughly two thirds of hotels are focused on the segment — makes it vulnerable to a perfect storm of challenges that already can be seen on the horizon. These include an uncertain Brexit, increased competition and a looming financial crisis.
Phocuswright analysts have determined 4 key developments in the Spanish online travel market:
- Last train to deregulation
- Strong OTAs, Thomas Cook collapse threaten hotel segment
- Airlines: High hopes for NDC
- Car rental: Time for an upgrade
The full publication presents a high-level summary of the Spanish travel market, focusing on the need-to-know developments, trends and stories that are impacting the market now. To read the in depth analysis of each key development, purchase the full report here.
If you subscribe to Phocuswright Open Access, you can unlock this report and related publications for your entire company. Plus, you can access the entire Phocuswright library of travel research reports and our data visualization tools.
Stay on top of Europe's travel industry
Attend Phocuswright Europe (18-20 May 2020 in Amsterdam) to put your finger on the pulse of innovation, trends and the state of travel in Europe.