The Travel & Tourism sector contributed €1 in every €7, in the Spanish economy last year demonstrating the importance of the sector to the country.
This comes in a year in which Spain overtook the USA as the country with the second largest number of international visitor arrivals in a year (behind France).
These figures come from the World Travel & Tourism Council’s (WTTC) annual review of the economic impact and social importance of the sector.
The research conducted for almost 30 years by WTTC, which represents the global private sector of Travel & Tourism, shows that in 2018 the Spanish sector:
- Grew by 2.4% to contribute or €178 billion to the Spanish economy, or 14.6% of Spanish GDP Employed 2.8 million people, or 14.7% of all jobs.
- Attracted 88% of leisure seekers and 12% of business travellers.
- Saw a split of 55% vs. 45% in terms of international and domestic visitors.
- Was the 5th largest tourism economy in the EU and 9th in the world in terms of total contribution to GDP Looking forward to 2019, WTTC predicts the Spanish Travel & Tourism sector will grow by 2.8% – above the European average of 2.5%.
Gloria Guevara, WTTC President & CEO, said: “2018 was another year of strong growth for the global Travel & Tourism sector reinforcing its role as a driver of economic growth and job creation. For the eighth consecutive year, our sector outpaced growth in the wider global economy and we recorded the second-highest growth of any major sector in the world.Advertisement
“In Spain, consumer spending experienced robust growth and the Travel & Tourism sector performed well last year. Spain has the potential to increase the size of its travel economy even further by growing the size of its business tourism sector. At present, business travellers account for only 12% of all spending in Spain against a European average of 21%.
“It is fitting, then, that WTTC will be hosting its 2019 Global Summit in Seville this April, bringing together global leaders and sector experts to gather in the European hub of travel.”