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Created with Fabric.js 1.4.5 Domestic tourism will continue to grow at a healthy pace 2. Increasing volume of outbound tourists 3. 1. Healthcare infrastructure to drive growth in medical tourism 4. 8. Neighboring European countries are the major tourism importers and exporters Capital invested in the travel and tourism sector has decreased considerably The aviation market is recovering with improving economic conditions 5. 6. Hotel market to register steady growth during the forecast period Spain registers increase in tourism spending 7. Travel and Tourism in Spain to 2016 The most popular tourist destinations in the country include Barcelona, Madrid, Seville, Ibiza and the CostaBrava,which are known for their natural beauty, architectural masterpieces, museums, festivals, events, beaches and nightlife.One of the principal reasons for 2.54% growth in outbound tourism is due to neighboring European countries and the availability of efficient air, road, rail and sea transport. The volume of outbound tourists from the country is expected to continue to grow, reaching 14.4 million travelers in 2016. The Spanish aviation market was adversely impacted by the eurozone debt crisis, but has shown signs of recovery. It is currently witnessing intense growth and competition among the low-cost carriers such as Vueling Airlines, Volotea Airlines, and Ryanair.Ever increasing fuel prices are a major area of concern for airlines, leading them to focus more on offering low-cost services. Mergers and acquisitions and offering flights to new destinations are the major strategies that have been employed by airlines in Spain to increase competitiveness. AIRLINES HOTELS The total revenue of hotels in Spain increased and isexpected to reach EUR20.8 billion (US$29.1 billion) in 2016. With domestic and inbound volumes expectedto grow, it would mean further increases in the demand for accommodation. In 2011, budget hotels had the largest number of hotel establishments, while luxury hotels accounted for 59.3% of the revenue for the entire hotel industry despite owning just a 13.6% share of hotel establishments. The hotel segment is expected to maintain healthy growth over the forecast period both from domestic and international travelers. Increasing competition has resulted in intense development and renovation activities in the hotel industry. A number of new hotels are currently being planned or are under construction to meet the increased demand; many of the leading international hotel chains, including Hilton Hotels and Marriott Hotels, are expanding their footprint in the Spanish market.
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