The consulting and professional services firm BRAINTRUST, a leader in the tourism sector, has issued a new report from its Tourism Barometer and announced that the number of trips taken by Spaniards will reach almost 175 million in 2024, growing 4.5% over the previous year, while spending by Spanish travelers will rise to 55 billion this year, an increase of 12% over 2023, setting a new record since records began.
Spanish travel continues to grow, reaching nearly 175 million trips
According to data from BRAINTRUST, domestic travelers continue to increase their trips, bringing the total number of trips to 174.4 million, exceeding the 2023 figures by 4%, which showed final figures of almost 166.9 million, consolidating their upward trend.
This new increase is largely due to post-pandemic interest in enjoying the experiences that travel provides, the gradual moderation of inflation, improved employment data, and a foreseeable reduction in interest rates in the medium term, along with the greater prominence of younger generations who travel more often than their parents and grandparents.
Domestic tourist spending will reach €55 billion, representing a 12% increase and a new record.
In terms of spending, BRAINTRUST forecasts point to a record figure, climbing to €55.59 billion, exceeding all previous predictions. In this case, this is due to extremely high domestic and foreign demand, which would cause prices to continue to rise, and therefore a higher average price with a greater number of trips would be the key to these new figures, confirming the good health of the tourism industry in our country, which now accounts for around 13% of GDP, with estimates suggesting that this figure will be exceeded in the coming years.
According to Ángel García Butragueño, Director of Tourism at BRAINTRUST: "Our data points to another record year for domestic tourism, which, together with the excellent forecasts for foreign tourism, would mean another boom year, with increasingly optimistic expectations. This leads us to believe that the industry should reflect on how to manage continuously growing tourism, achieving a better balance between tourists and residents, a challenge that is becoming increasingly important in industry forums. Travel has become a priority for Spanish households and a new attitude to life that maximizes people's existence. With the arrival of new generations, people aspire to live life much more intensely, accumulating fewer material things and experiencing the positive emotions that travel brings."
International travel now accounts for 12% of all travel and 33.1% of total spending.
BRAINTRUST has also analyzed the expenditure category, concluding that Spaniards are increasingly eager to cross our borders and venture outside their comfort zone, increasing their share of total travel to 12.2% and their share of expenditure to around 33.1%. The consulting firm states that this weight of international travel will continue to grow, encouraged by new generations more accustomed to traveling outside Spain since childhood and youth, both millennials and Generation Z, with less risk aversion and a higher cultural, technological, and linguistic level.
According to José Manuel Brell, Partner in charge of Quantitative Studies and Models, and the Tourism and Leisure Industry at BRAINTRUST: "Tourism continues its unstoppable rise, as we at BRAINTRUST predicted, setting new records every year, which give this industry increasing relevance and prominence in our economy. With such optimistic forecasts for the future, it is very important to help companies in the tourism sector transform themselves for a new era, where travelers are increasingly demanding, more informed, and want quality experiences at more affordable prices across all channels, and where attracting, managing, and retaining talent, together with sustainability and digitalization, have become the major challenges that we must all address together. On this path, our firm is firmly committed to an industry with greater purpose and excellence in order to remain world leaders. Obtaining data and making accurate forecasts is one of our greatest strengths when it comes to supporting this sector, which provides a livelihood for many families in our country.
