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April 20, 2015

Spain continues to set records in tourism

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Spain continues to set records in tourism

The tourism sector in Spain began actively this year 2015. In the first quarter of 2015 the number of tourist arrivals and expenditures of non-residents are already at historic highs, according to the report of BBVA. What is the forecast for this year? Probably another record in tourist numbers will be established. At the moment the figures show that 4.5% Spain attracts 4.5 % more of tourists this year than in the same period last year.

Tourism in Spain continues its growth cycle and displays unprecedented numbers earlier this year. BBVA's quarterly reports confirm the fact that the arrival of foreign visitors and spending by non-residents in Spain from January to March 2015 reached "the growth in the previous quarter, which leaves the sector activities of tourism at record levels."

Tourism is the economic engine of Spain and has a positive influence on other economic indicators, conclude the experts of bank. In particular, the export of services in Spain "preserve the dynamic pace" thanks to the tourism. This contrasts with exports of goods showing "zero growth" in the first quarter of this year.

In addition, the successful beginning of the year in the field of tourism reflects positively on domestic demand of the Spaniards. According to the report of BBVA, the private domestic demand, "continues the cycle of growth", in which the sector ended last year.

Analysis of Spanish bank also matches the growth forecasts published by the National Agency for Quality Tourism – Exceltur. The agency expects that tourism will grow by 3.4% in Spain this year, compared with the first most pessimistic forecast growth of 2.6%, published in January, according to Europa Press.

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