Item 1 of 3 Tourists eat on a terrace next to Las Canteras Beach in Las Palmas de Gran Canaria. Spain, April 13, 2024. REUTERS/Borja Suarez/File Photo
The group expects revenues of hotels, airlines, restaurants, and other tourism-related businesses to grow 2.7% year-on-year in the third quarter, the high season for tourism in the world’s second most-visited country, against 6.3% registered in the same period of 2024.
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In the second quarter, sales rose 4.5%.
The group projected fewer arrivals from Germany and France. International arrivals from the United Kingdom, the U.S., Japan, and China are still expected to grow, if at a slower pace, it estimated.
Exceltur Vice President Oscar Perelli told a news conference in Madrid there had been a slowdown in tourism from the U.S. since the end of 2024 due to a shift in exchange rates, which he expects to continue through this year.
“At the same time, we are seeing an acceleration in the redistribution of travel to Europe, as Europeans prefer to stay and travel within Europe, and Asians are looking for alternative destinations to the United States,” he said.
Exceltur also revised its full-year estimate for tourism activity to 3.3% growth from 4% projected earlier this year, still outperforming a projected 2.4% expansion of the Spanish economy.
“At the beginning of the year, we thought it would be a very good year. Now, we believe it will be a good year,” Perelli said.
“The confidence of tourism business owners has been affected by the scenario of uncertainty”, he added.
Reporting by Corina Pons; Editing by Andrei Khalip and Jan Harvey
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