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TOURISM BALANCE IN SPAIN WAS UP 42.2% IN THE FIRST QUARTER OF 2023

TOURISM BALANCE IN SPAIN WAS UP 42.2% IN THE FIRST QUARTER OF 2023 Michael Trout - Jun 2, 2023 0 Listen to this article 00:01:26 Your browser doesn’t support HTML5 audio

According to data from the Bank of Spain, the surplus of the balance of payments for tourism in Spain increased by 42.2% in the first quarter of this year compared to last year. The surplus reached 10.525 billion euros, which measures the amount of money foreigners spend on their trips to Spain. It also measures the amount of money Spaniards spend on trips abroad.

Tourism receipts have experienced a significant increase, rising by 38.8% to reach 13.368 billion euros in the given period. Meanwhile, payments increased by 27.7% to 2.483 billion euros. However, compared to 2019, the growth rates differ, with payments still struggling to recover, showing a decline of 36.3%, while receipts increased by 14.4%, resulting in a positive balance growth of 45.6%.

For March, data revealed a surplus of 4.212 billion euros, an increase of 33.5% compared to last year's 3.155 billion euros. The income generated in March was 5,190 million euros, a 29.4% increase, while payments reached 978 million euros, showing a 14.1% increase.

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