Spain receives a historic record of 16.1 million international tourists in the first quarter of the year. As a key component of the Spanish economy, the tourism sector had a notable impact on the property market in 2023. As the economy recovered post-COVID, the sector has shown important signs of revitalisation. Here is how tourism is currently affecting the Spanish property sector: Revival of Tourism Following a period of restrictions, Spain received more than 40 million international tourists during the first six months of 2023, 30% more than the previous year. In turn, this increase has had a direct influence on the property sector. Meanwhile, this year, the number of foreign tourists arriving in Spain had already reached 33.2 million by May, according to data provided by the Touristic Movement on Borders Survey (Frontur) carried out by Spain’s National Statistics Institute (INE). According to the INE, Spain received a historic record of 16.1 million international visitors in the first quarter of 2024, 17.7% more than last year. In addition, as a result of Easter week, March saw particularly notable figures with 6.3 foreign tourists arriving, an increase of 21% compared to last year. British tourists top the list, with 2.9 million visiting the country, an increase of 15%. Next come the Germans with more than 2 million (19.5% more) and the French with 1.9 million (15.7% more). There was also an increase in the number of tourists travelling from the United States and Asia, with increases of 10.4% and 18.2% respectively.
