Travel and Tourism in Spain to 2018 - Market Analysis, Shares, Growth and Forcasts
The Report Travel and Tourism in Spain to 2018 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz
Albany, NY -- (SBWire) -- 11/18/2014 --Synopsis
The report provides detailed market analysis, information and insights, including:
* Historic and forecast tourist volumes covering the entire Spanish travel and tourism sector
* Detailed analysis of tourist spending patterns in Spain for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries and others
* Detailed market classification across each category, with analysis using similar metrics
* Detailed analysis of the airline, hotel, car rental and travel intermediaries industries
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Executive summary
The Spanish travel and tourism sector suffered from the consequences of a prolonged phase of economic instability and low consumer confidence due to the eurozone debt crisis. The sector contracted during the review period (2009–2013) in terms of tourist flows, while tourism expenditure registered only a marginal growth. The decline was largely due to the economic crisis, as well as higher unemployment rates, and austerity measures such as increased taxes.
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Scope
This report provides an extensive analysis related to the tourism demands and flows in Spain:
* It details historical values for the Spanish tourism sector for 2009–2013, along with forecast figures for 2014–2018
* It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2009–2013 review period and the 2014–2018 forecast period
* The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in Spain.
* It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries, with values for both the 2009–2013 review period and the 2014–2018 forecast period.
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Reasons to buy
* Take strategic business decisions using historic and forecast market data related to the Spanish travel and tourism sector.
* Understand the demand-side dynamics within the Spanish travel and tourism sector, along with key market trends and growth opportunities.
Key highlights
* Tourism plays an important role in the Spanish economy; its contribution grew steadily during the review period, contributing 11.7% to GDP in 2013. Total tourism output grew from EUR179.0 billion (US$248.7 billion) in 2009 to EUR191.5 billion (US$253.8 billion) in 2013, at a review-period CAGR of 1.69%. Inbound tourism was the leading contributor in terms of total expenditure (includes inbound and domestic only), representing 50.1% of the Spanish tourism market in 2013, and the rest was accounted by domestic tourism.
* In terms of volume, domestic tourism is the major contributor to the Spanish travel and tourism sector, despite the fall recorded during the review period. The total number of domestic trips fell from 155.0 million in 2009 to 144.5 million in 2013, at a review-period CAGR of -1.73%. This was largely due to the economic crisis, higher unemployment rates, and austerity measures taken by the government, such as an increase in taxes and a decrease in public sector salaries
* International arrivals to Spain grew from 52.2 million in 2009 to 61.0 million in 2013, at a review-period CAGR of 3.96%, while inbound tourist expenditure increased at a CAGR of 4.52%, going from EUR47.1 billion (US$65.4 billion) in 2009 to EUR56.2 billion (US$74.5 billion) in 2013. Both international tourist volumes and inbound tourist expenditure recovered well from the financial crisis in 2009. A steady increase in arrivals from Mexico, Brazil, Russia and China partly contributed to this growth.
* France, Portugal, Italy, the UK and Morocco are the five leading destination countries for Spanish tourists, with the latter being favored due to its low prices and tourist attractions, particularly its beaches and geographical proximity. These five countries together accounted for 55.3% of the total outbound tourist volume in 2013.
* IAG sought control of the profit-making Vueling after another Spanish subsidiary, Iberia, incurred losses in 2012. This transaction provides an opportunity for IAG to increase its profitability in the country, while its mainline business is decreasing capacity. Vueling will continue to operate as a standalone unit under its own CEO, Alex Cruz, and the current management structure and business model will be retained.
* Spaniards showed a strong interest towards traveling, even during poor economic conditions, by opting for alternatives such as private accommodation and low-cost airlines. Airbnb, for instance, a home sharing company, registered 1 million night bookings in Spain from September 2011 to August 2012. This represents a growth of 900% compared to the same period the previous year. Madrid and Barcelona accounted for a significant portion of this demand.
* Europcar introduced InterRent, a new low-cost car rental brand targeted at leisure customers in Spain, Germany, France, Portugal and the UK. InterRent was launched in April 2013, in 44 locations, with a fleet of 6,000 vehicles including economy, mini, compact and minivan categories. To promote the launch of the new brand, the company aired an online marketing campaign in all five European countries offering the service.
* Increasing internet penetration and the adoption of mobile internet technology has resulted in the growth of online travel bookings, which is expected to continue over the forecast period. The convenience of booking trips online and checking travel information is gaining popularity among Spanish internet users, especially the younger population.
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