Experiential luxury is set to see only a low retail current value CAGR in Spain over the forecast period. With foodservice luxury set to remain negligible, the retail value sales and growth of luxury hotels will again mirror the overall performance of experiential luxury.
The latest figures for 2024 show that the number of tourists to Spain continues to grow, as does their expenditure, and these trends are set to continue in the forecast period, which is expected to contribute to the low growth anticipated for luxury hotels. However, the latest campaigns by locals, with protests against mass tourism and its impact on locals, especially in areas where tourism is high, such as Ibiza or Barcelona, might limit the number of tourists; especially those seeking a luxury experience.
Despite the anticipated challenges for experiential luxury in Spain, there is still potential for growth in luxury hotels, and the main players are aware of this and continue to open new hotels. For instance, in 2021 the first Four Seasons hotel opened in Madrid, and in 2024 the second one was opened in Mallorca.
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Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Spain, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See All of Our DefinitionsThis report originates from Passport, our Experiential Luxury research and analysis database.
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