According to the Spanish private research institution Exceltur, in July and August 2022, Spain forecasts an improvement in the number of tourists close to 2019. Spain’s tourism GDP is also expected to approach 2017 figures, which is slightly less than 2019.
Estimation of Spain’s tourism GDP in 2022 from Exceltur
According to Exceltur, the GDP generated by tourism will rise to 151.8 billion euros in 2022. The institution had previously predicted 141 billion Euros. Tourism revenue in Spain was 155 billion Euros in 2019, which was a record year. It was 52 billion Euros in 2020 and 88 billion Euros in 2021. The destinations that will benefit most from the recovery in 2022 are the Andalusian coast, the Canary Islands and the Balearic Islands.
Top concerns for tourism
The institution also announced some concerns that will affect its growth in 2022: The chaos that causes chaos at airports, the anxiety of residents due to excessive growth, and the decrease in the margins of companies with rising global prices. Inflationary period, especially in the increase in energy and food costs.