Tourism sector increases contribution to Spain’s GDP to record high of 12.8% and emerges as main engine of growth


Banca March: In the absence of data from the INE (National Statistics Institute), Exceltur has published its outlook for tourism: compared to an average contribution to GDP of 11.9% between 2015-2019 and after registering highs of 12.8% in 2023, in 2024 the employers’ association expects these levels to be exceeded, reaching values of 13.4%. It is also estimated that tourism was the main contributor to the growth of the Spanish economy in 2023.

The contribution to national wealth translates into €186,596 million, the highest in the historical series, so that tourism was responsible for more than 70% of Spanish GDP growth (2.4% estimated by the Bank of Spain). Without the contribution of tourism, national GDP would have grown by only 0.8% in 2023.

Exceltur announces a new advance in tourism wealth for 2024, which could exceed €200,000 million for the first time (€202,651 million to be precise), so that its weight in GDP would rise to 13.4 %.

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