Tourist spending grew by 25.8% in the best February in the historical series

Tourist spending grew by 25.8% in the best February in the historical series

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In February, tourism marked the best start to the year in its history. The second month of 2024 leaves record numbers both in arrivals – more than five million international travelers visited us – and in spending, which reached 6,747 million euros, 25.8% more than in the same period of 2023, according to the INE. The main lung of the Spanish economy thus completes its comeback, even surpassing pre-pandemic data. Each tourist left 1,347 euros in Spain, 8.5% more than the previous year when it already reached a maximum, as a result of the effect of the rise in inflation and the tendency of households to prioritize travel over other expenses secondary.

The British were the tourists who visited us the most and spent the most on his trip to Spain. They represented 17.2% of the total international tourists, and left 36.4% more than in February 2023. Behind them, the Germans increased their budget by 24.8% and the Dutch did so by 26.5%. .

The Tourist Expenditure Survey (Egatur) displays the main expenditure items. Tourists used 21.6% of their total budget to pay for their transportation, 25.1% more than in the second month of 2023. Behind them, spending on activities – 21.2% – and accommodation stands out, for which they used 17.3 euros for every 100 euros dedicated to their visit. By community, the Canary Islands were the main recipient of spending, 32.3% of the total stayed on the islands, 17.8% more. Behind them, Catalonia, 16.4%, and the Community of Madrid, where spending rose by 36.9% and which was the destination of 14.7% of tourists’ budgets in February.

Above forecasts

The historic figures recorded in the first two months of 2024 anticipate a better year even than 2019, and could exceed the sector’s expectations. Exceltur anticipated a good start to the year, although of less intensity than that experienced in 2023. However, The initial stretch of 2024 leaves 1,321 million more tourists than last yearand 1,217 million more than in the months before the outbreak of the pandemic.

The same goes for spending. The accumulated of 2024 It far exceeds the record recorded last year, and could continue to increase. The foreseeable reduction in interest rates and the slow recovery of the European economy could continue to increase the figures in the coming months. If the initial trend continues, Spain could end the year close to 100 million international tourists, even above the 83.7 million reached in 2019, when all forecasts were beaten. Regarding spending, the figures for January and February indicate the objective of 136,000 million euros for the entire year, exceeding the 108,000 million in 2023.

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