Hotel & Tourism SMARTreport #29
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EUROPE INBOUND /<br />
TRENDING DESTINATIONS<br />
IBERIAN TOURISM<br />
ON RISE<br />
Spain becomes third-most visited<br />
global destination<br />
Consecutive years of record-breaking<br />
inbound tourism is breathing new life<br />
into Spain’s vacation hotspots and travel<br />
companies’ strategic positioning.<br />
Spain is now the world’s third-most visited<br />
destination, behind only France and the USA.<br />
A new Phocuswright report, Spanish Online<br />
Travel Overview Eleventh Edition explores<br />
Spain’s travel market dynamics, and contains<br />
detailed information on all segments in the<br />
region.<br />
Spain has emerged as a darling among<br />
European economies after years of fiscal<br />
turmoil, with gross domestic product jumping<br />
to 3.5% (year-over-year) in 2015. While<br />
inbound tourism is booming, ongoing austerity<br />
measures and sky-high unemployment (nearly<br />
50% among the youth population) keep travel<br />
out of reach for many Spaniards.<br />
TOTAL TRAVEL<br />
MARKET<br />
The country’s travel market has been buoyed<br />
by strong inbound visitation, driven in part by<br />
political and economic turmoil in competing<br />
destinations, including Tunisia, Egypt and<br />
Greece. In 2015, Spain’s total travel market<br />
is projected to climb 7% to reach €23 billion,<br />
with 7-8% growth projected through 2017.<br />
ONLINE TRAVEL<br />
MARKET<br />
Online channels – including bookings via both<br />
desktop and mobile devices – are the primary<br />
growth drivers, with strong double-digit gains<br />
projected through 2017. As travel suppliers<br />
become increasingly focused on driving<br />
online-direct bookings, OTAs’ share of the<br />
online channel will decline.<br />
“Spain’s traditional travel companies, and<br />
especially the tour operator segment, have<br />
been slow to adapt to the online environment,”<br />
says Cathy Schetzina Walsh, Phocuswright’s<br />
senior research analyst. “In stark contrast are<br />
digital age companies which have prioritized<br />
online and mobile bookings and are now<br />
reaping the benefits.”<br />
NOTE: From 2016, Cleverdis is publisher of<br />
the official show daily for FITUR Madrid,<br />
one of the world’s leading travel and<br />
tourism shows.<br />
AS TRAVEL<br />
SUPPLIERS<br />
BECOME<br />
INCREASINGLY<br />
FOCUSED ON<br />
DRIVING ONLINE-<br />
DIRECT BOOKINGS,<br />
OTAS’ SHARE<br />
OF THE ONLINE<br />
CHANNEL WILL<br />
DECLINE.<br />
SPANISH SHARE OF EUROPEAN<br />
TOTAL AND ONLINE TRAVEL<br />
MARKETS, 2015 (€B)<br />
Online<br />
Total<br />
(€B)0 50 100 150 200 250 300<br />
SPANISH SHARE OF GROSS BOOKINGS<br />
BY CHANNEL, 2015 & 2017<br />
2015<br />
Traditional Airline<br />
LCC<br />
<strong>Hotel</strong><br />
Rail<br />
Car Rental<br />
Tour Operator<br />
2017<br />
Spain<br />
Rest of Europe<br />
0% 20% 40% 60% 80% 100%<br />
0% 20% 40% 60% 80% 100%<br />
Note: 2015 and 2017 projected.<br />
Source: Spanish Online Travel Overview Eleventh Edition<br />
© 2016 Photocuswright Inc. All Rights Reserved<br />
Supplier-Direct Online OTA Other Channels<br />
Note: 2015 and 2017 projected. Totals may not add to 100% due to rounding.<br />
Source: Spanish Online Travel Overview Eleventh Edition<br />
© 2016 Photocuswright Inc. All Rights Reserved
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