2024 in Spain was one marked by records across the tourism industry. 

It welcomed its highest number of international visitors, at an incredible 94 million, and the sector broke all spending records last summer, according to a study from CaixaBank Research which analysed purchase transactions from its point-of-sale terminals.

It also noted a massive growth in expenditure from one country in particular – with a huge 89.9% increase in spending in August 2024 compared to the same month in 2019.

“Since 2019, tourism from North America has been one of the best performing areas of international tourism demand in Spain,” said David Cesar Heymann from CaixaBank.

“Demand from North America has been particularly strong. underpinned by the higher level of economic growth in the United States compared to other markets and the strength of the dollar against the euro,” he added, according to The Olive Press.

CaixaBank expects North American tourism to continue overperforming based on continued GDP growth in the US – 2.7% according to the latest International Monetary Fund (IMF) forecasts – and a persistently strong currency.

“We forecast not only further increases in tourism demand from North America, but also that the rate of growth of inbound international tourism from North America will continue to be higher than the overall rate of growth of international tourism in Spain also in 2025,” said Mr Heymann.

Benjamin Rhatigan from the tourist marketing consultancy Arrival Projects revealed that demand from US travellers is being driven by an increased perception of value, combined with a growing appreciation for higher-budget experiences.

“I see more Americans willing to pay for unique experiences that are worth flying across the ocean for: like winery visits, boat rentals, or stays at exclusive resorts in destinations like Mallorca, for example”, he explained.

Darren Scott from United Airlines commented: “We monitor demand trends very closely, see where people want to go and adjust our network accordingly.”

The airline will begin flights to its sixth Spanish airport – Bilbao in the Basque Country in northern Spain – in May this year and is also set to expand its summer operations at Palma de Mallorca in the Balearic Islands.

According to CaizaBank Research, the UK has shown a somewhat sluggish performance, with declines of 3.6% in July and August compared to 2019.

Although British tourists are approaching pre-pandemic levels, they have yet to recover fully, with factors such as post-Brexit economic uncertainties and currency fluctuations named as possible influences.