Spain’s tourist sector seen reaching 88% of pre-pandemic size in 2022 -Breaking
[ad_1]
© Reuters. FILEPHOTO: Tourist sunbathing on an air-mat on Gran Canaria’s Amadores beach, Spain. This photo was taken August 3, 2021. REUTERS/Borja Suarez/File Photo2/3
MADRID, Reuters – Spain’s vast tourism industry will close to achieving its pre-pandemic level in 2022. However, the Omicron surge and supply problems will hinder a complete recovery.
Before the pandemic, Spain was second in the world. Tourists flocked to Spain’s beaches and historical buildings, while fashionable cities such as Madrid and Barcelona were very popular for short vacations.
Exceltur, an industry association, expects Spain to have a tourism gross domestic product of 135 billion euros in 2022. This is 88% higher than pre-pandemic levels and 57% lower than 2021 when there was a slight recovery in domestic tourism.
According to the group, activity will return to its pre-pandemic level only by 2023.
Exceltur cautioned that tourism recovery would not begin before April, with infections at an all-time high in Europe as Omicron strain sweeps the continent.
Exceltur stated that most businesspeople are putting off the recovery to pre-pandemic levels of revenue until 2023 because of the Omicron’s triple effect and the supply crisis at 2021.
It said that beaches and countryside will see strong recovery. Urban destinations which are dependent more on business travel and international demand, however, should expect to experience a slower recovery.
If forecasts prove accurate, Spain will see tourism contribute 10.5% to its overall GDP in 2021, against 5.5% in 2020.
Spain’s COVID-19 infections rate has increased more than tenfold since December.
($1 = 0.8721 euros)
Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts, buy/sell signal, and quotes. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.
[ad_2]
