Loss in tourist arrivals likely to place Spain economy at peril

 Thursday, August 17, 2017 


spains-booming-tourismThe economy of Spain is likely to face a major blow if tourists stop arriving to this nation, as per the latest statistics, following a backlash from the regional inhabitants of Spain, especially from Ibiza and Mallorca.


They have gone ahead to brand visitors as ‘terrorists’.


Recently, vacationers in some of the most popular hotspots of Spain have witnessed this hostile ambiance, amidst a series of graffiti with negative messages against tourists and several protests.


In fact, the government of Balearic Islands is well on its way to roll out legislation restricting the number of tourist beds to 623,624 and have promised to minimize the figure to 500,000 in the following few years.


However, tourist arrivals pour in revenues in billions of euros, particularly from the ones arriving from the UK every year.


And therefore, anti-tourism squads here need to think twice prior to proceeding with their protests in multiple ways. The lead analyst and tourism specialist at a popular global marketing intelligence publisher, Euromonitor, Alexander Goransson said that the Brits were actually the largest contributors to the tourism sector of Spain.


He mentioned that the tourism expenditure to Spain is nearly about 55 billion euros equaling to $81.7 billion in the year 2016. He added that out of that, about $20.8 billion or 14 billion euros are sourced from the UK.


Last year, Spain had attracted 75 million vacationers and almost 17% of them were British.


National Statistics Institute of Spain declared that Australians did not comprise the top 20 list of foreign arrivals to Spain. The Spanish economy is sustained mainly on account of the interesting tourist revenues it draws every year. During the recession, the tourism numbers were rocky in regions like Europe.


The World Travel and Tourism Council states that Spain represent the third most visited nation across the world making up for 14.2% of the GDP. Spain, in other terms, in reliant on tourism to a large extent.


In this scenario, if tourists, especially the Brits cease to make trips to this nation, the total tourism activity would confront with a drop in tourist activities by about 25 to 25%. This would, naturally bring about a great blow to the economy of Spain.


Currently, the number of British tourists coming here is rising.


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