Recently published research from Timetric, "Travel and Tourism in Spain to 2017", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/28/2013 -- During the review period, tourist volumes in Spain decreased due to the country's worsening economic conditions, and declining price competitiveness of coastal tourism. The country's inbound tourist volume expanded marginally at a CAGR of 0.22% during the review period (2008-2012) and is expected to record a forecast-period (2013-2017) CAGR of 0.84%. However, government expenditure on tourism was relatively low at EUR160.0 billion, representing 15.2% of total GDP in 2012, in comparison with neighboring countries such as France, which spent EUR197.6 billion. This may have an adverse impact on the travel and tourism sector in the country.
- Given the current global growth prospects and weak domestic demand, Timetric expects the Spanish economy to contract by 1.5% in 2013 before recording positive growth of 0.8% in 2014. The weak labor market conditions are expected to directly affect personal income and consumer purchasing power in 2013. However, the economy is expected to improve in 2014 as the recently presented 2014 budget eases some of the austerity measures with the projected recovery in sight.
- At the end of June 2013, the Ministry of Industry, Energy and Tourism launched Spain's new official tourism website: www.spain.info. The site is now more an interactive tool, making it easier for tourists to use and navigate. Tourists can also book transport and lodging through the site, making it a key sales channel for Spanish tourism providers.
- Football is a major attraction in cities such as Madrid, Barcelona, Valencia and Seville, which have the largest stadiums in the country. The largest is the Camp Nou in Barcelona, with a capacity of over 99,000. Football enthusiasts frequently travel to Spain to see some of the world's most celebrated teams play, and interest in football is constantly expanding. Five new large stadiums, with estimated capacities ranging between 32,000 and 75,000, will be built and opened by 2016 in Madrid, Bilbao, Zaragoza, Valencia and Palma de Mallorca.
- The Ministry of Industry, Energy and Tourism launched a campaign to promote domestic tourism in 2013. The campaign featured the slogan: "Spain, the destination that's part of you." This initiative was taken to stimulate domestic tourist demand and encourage people to take advantage of Spain's diverse tourism offerings.
- The Balearic Islands were the leading tourist destination in June 2013 with 1.7 million tourists visiting the region, 9% more than the previous year. The second-most-popular destination was Catalonia with 1.6 million tourists, up by 6.7%. Andalusia was visited by 817,221 inbound tourists which represents an annual growth of 2.5%.
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Companies Mentioned in this Report: Iberia Lineas Aereas de Espana, SA, Vueling Airlines SA, Air Europa Lineas Aereas, S.A.U, Volotea, Air Nostrum, Lineas Aereas del Mediterraneo, S.A., Melia Hotels International S.A, H10 Hotels, Iberostar Hoteles y Apartamentos SL, Starwood Hotels & Resorts Spain, ACCOR HOTELES ESPANA SA, FOR OCIO S.L., Totally Spain S.L., Ole Spain Tours, Spain-Incoming.com, Goldcar, Avis Alquile un Coche SA, Europcar Ib, S.A., Rentspain
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