Spain's tourism gains momentum amid regional instability

Spain's tourism industry is experiencing stronger-than-expected growth, bucking the trend of regional instability affecting travel elsewhere. New data from Exceltur shows the sector gained momentum in the first quarter of 2026, with a 2.5% expansion in tourism GDP.

Key figures highlight shift

Despite a modest 2.1% rise in tourism GDP, Spain's tourism sector outpaced the broader economy's 2.5% growth in the first quarter. Early holiday spending pushed company revenue up 4% compared to last year, driven by a preference for experiences over material goods.

The number of people linked to tourism jobs rose 2.5% to 2.2 million, with nearly nine out of ten recently signed agreements classified as ongoing roles. Average pay levels also increased by 3.4%.

Refuge effect boosts spain's appeal

Spain's tourism boom can be attributed to the 'refuge effect', with visitors flocking to the country due to regional instability abroad. This influx has injected €4.2 billion into the economy, representing a roughly two-point increase in tourism's share of national output.

Exceltur has adjusted its 2026 outlook, predicting a tourism GDP contribution of €227 billion, slightly ahead of earlier projections. The sector's resilience is expected to continue, with stability emerging as a short-term response to limited disruption.