Alex Trelinski
SPAIN welcomed a record number of foreign tourists last year- 94 million- with research suggesting that US visitors spent more than ever.
A study from CaixaBank Research noted that the tourist sector broke all spending records last summer based on analysis of tourist expenditure from purchase transactions using CaixaBank point-of-sale terminals.
It noted a massive growth in expenditure by tourists from North America–with a big 89.9% increase in spending in August 2024 compared to the same month in 2019.
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David Cesar Heymann from CaixaBank said: “Since 2019, tourism from North America has been one of the best performing areas of international tourism demand in Spain.”
“Demand from North America has been particularly strong underpinned by the higher level of economic growth in the United States compared to other markets and the strength of the dollar against the Euro,” he added.
The bank expects North American tourism to carry on overperforming on the back of continued GDP growth in the United States (2,7% according to the latest IMF forecasts), as well as a persistently strong dollar.
“We forecast not only further increases in tourism demand from North America, but also that the rate of growth of inbound international tourism from North America will continue to be higher than the overall rate of growth of international tourism in Spain also in 2025,” says Heymann.
Benjamin Rhatigan from Arrival Projects- a tourist marketing consultancy- says demand from US travellers is being driven by an increased perception of value, combined with a growing appreciation for higher-budget experiences.
“I see more Americans willing to pay for unique experiences that are worth flying across the ocean for: like winery visits, boat rentals, or stays at exclusive resorts in destinations like Mallorca, for example”, he commented.
He added that while Spain has a highly competitive value proposition beyond the traditional budget travel package for sun, sea and sand, it has at times not promoted its wider appeal.
Darren Scott of United Airlines said: “We monitor demand trends very closely, see where people want to go and adjust our network accordingly.”
The carrier will fly to its sixth Spanish airport- Bilbao- this year as well as expanding its summer operations at Palma de Mallorca.
