Inflation causes consumer confidence to fall below 2019 levels

MADRID, 12 (EUROPEAN PRESS)

Spanish tourism reached pre-pandemic levels thanks to a strong rebound in national tourism, according to the latest ‘Think’ report published by ING, which highlighted that tourism in July was only 10% below 2019 levels.

Hotel guest numbers exceeded their pre-pandemic levels for the first time in July, driven mainly by a strong rebound in domestic tourism, which has recovered faster than overseas.

The number of domestic guests was already above pre-pandemic levels in April 2022, while the number of foreign guests was still 3% behind in July.

However, the report points out that the economic context poses “risks” for tourism recovery in the short term. As the ING ‘Think’ report shows, Spanish consumer confidence fell below pandemic levels in July, suggesting that Spaniards are increasingly concerned about inflation.

Consumer confidence in Spain is also lower than the euro zone average. As half of hotel stays are booked by Spaniards, this will hamper domestic tourism, the report said.

MORE THAN 9 MILLION VISITORS IN JULY

Despite the dismal economic outlook and geopolitical situation, Spain’s tourism sector is rapidly recovering from the pandemic. In July, Spain received 9.1 million international tourists, which is equivalent to 92% of pre-pandemic levels, according to the ING ‘Think’ report.

In July, the majority of visitors were from the UK, with 21% of all international tourists visiting the country. France is the second most important publishing country, with 16% of total tourist arrivals.

In July, the Balearic Islands (2.3 million) became the main destination of choice by international tourists, receiving 1 in every 4 tourists arriving, followed by Catalonia (about 2 million) and the Valencian Community (1.1 million).

The Canary Islands and Madrid received the same number of international tourists as in July 2019. Likewise, the Balearic Islands are practically at their pre-pandemic figure, with a recovery of 97% compared to July 2019. On the other hand, the number of international tourists in Catalonia and Andalusia is still far behind compared to July 2019 .