Tuesday 12 December 2017

Brits Spent €3.25m an Hour in Spain During August



Brits Spent €3.25m an Hour in Spain During August
Brits love affair with Spain continues as they send
a record amount in August
The value of British tourism to Spain has been clearly defined with the latest official data showing that holidaymakers from the UK spent an average of €3.25 million an hour during August.

Tourism, which accounts for 11% of Spanish GDP, is set to break records once again in 2017, with the visitor numbers from August showing 10.43 million people visited the country during the month – the highest monthly figure ever.

The National Statistics Institute (INE) data showed that holidaymakers spent €11,324 million in Spain during August; which works out at €15.25 million each and every hour.

British tourists alone threw €2,418 million in the Spanish economy during August, which is an increase of 6.3% over last year and accounts for over a fifth of all economic activity from foreign tourists.

French and German holidaymakers increased their spending as well; by 3.1% and 4.1% respectively. The highest increase was found with Scandinavian tourists, who spent a total of €558 million in Spain during august, a whopping 31% increase over last year.

Outside of the strongest markets, the rest of the world spent an average of 16.7 more in Spain; accounting for 45.5% of the total amount spent in the country.

When looked at as a year-to-date figure, the first eight months of the year saw €60,461 million spent in Spain by tourists, a 14.2% increase over last year and a great indication that 2017 will set new records. Brits are set to account for around 20.4% of overall foreign spending in Spain for 2017 (€12,316 million), an annual increase of 10.9%.