SPAIN’S TOURISM INDUSTRY IS BACK ON ITS FEET/SPAIN BENEFITS FROM GLOBAL TRAVEL OUTLOOK

06/24/2014 10:55

SPAIN BENEFITS FROM GLOBAL TRAVEL OUTLOOK

The outlook for the global travel industry is brighter for 2014 as European economic recoveryand rising consumer confidence spur holidaymakers and businesses to loosen their purse strings again. This is good news for Spain as tourism accounts for over 11 per cent of their gross domestic product (GDP). In 2013, Spain overtook China to become the world’s third most popular tourist destination, clocking up a record 60.6 million international visitors, almost two million more than the previous record in 2008.

Political turmoil in other Mediterranean holiday spots last year – including Turkey and Egypt – made Spain’s coastal resorts and its islands a much more attractive option. But Spain’s leading position in Europe in terms of the price to quality ratio of its hotels has also helped put the tourism industry back on track. Hotel prices are well below those registered in 2009, before the economic crisis began to bite.