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July 12, 2024
GDP growth forecast for 2024 is raised to 2.5% thanks to the good performance of external demand, the increase in the labor force, and the execution of Recovery Plan funds. However, it will moderate to 2.1% in 2025, largely due to constraints in tourism growth.
November 3, 2023
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November 15, 2021
According to BBVA's credit card spending data, foreign tourist spending was above the 2019 records for the first time since the start of the pandemic. This, added to the positive effect of domestic tourism, led to a 17% growth in total spending in the sector compared to Oct-19.
April 30, 2020
Pandemic measures against COVID-19 hit Social Security enrolment in March 2020. The effect was greater in touristic areas, especially in the islands and southern mediterranean ones, and smaller in great urban areas, and in the north.
March 16, 2020
BBVA Research has analyzed developments in the Valencian tourism sector for a number of years, and seen the important changes that it has undergone. The sector generates around EUR 16 billion per year (15% of regional GDP) and is responsible for 290,000 jobs (15% of total employment).
February 10, 2020
An analysis of economic variables and through Big Data is made to quantify the effects of sargassum in the tourist activity of Quintana Roo in 2019. The results do not find solid evidence in this regard, either because it was not a relevant factor or by the success of mitigation actions.
September 23, 2019
BBVA Research forecasts indicate that the Spanish economy will grow by less than 2% in 2020. However, this growth could be reduced even further if some of the risks to the international economic scenario materialize.
May 6, 2019
The recovery of the Spanish economy has been characterized by the sectoral concentration of job creation. Of the 2.5 million jobs created in the country between 2013 and 2018, nearly half have come from the hospitality and commerce sectors as well as the entire public sector, which represent just under 40% of the GDP.
March 26, 2019
Employment in the hospitality industry has seen significant growth during the period of economic recovery in Spain. In some provinces on the Mediterranean coast, the sector has accounted for a third of employment since 2013. These provinces are vulnerable to the slowdown in the hospitality sector, given the lack of dynamism in other sectors.
December 14, 2018
We spent this week talking about tourism in Colombia with the team and a group of journalists, reviewing recent figures that demonstrate exponential growth in international visitors and Colombians staycationing in their own country.
