Exceltur attributes the 3.5% growth of tourism GDP in the third quarter to geopolitical instability, which diverted flows to Spain. Business sales rose by 4.1%, but costs hindered profitability.
The Spanish tourism GDP grew by 3.5% in the third quarter of 2026, driven by geopolitical instability resulting from the conflict in the Middle East, which diverted additional flows of travellers to Spain who had planned to travel to other destinations. This was stated by Óscar Perelli, executive vice president of Exceltur, during the presentation of the summer report, as published by Hosteltur.
Summer "has been better than expected," asserted Perelli, who attributed the result to Spain's "security rents," events such as the August eclipse, and the increase in transport capacities.
The Exceltur report, based on consultations with over 2,000 companies and organisations in the sector, estimates that more than 105,000 new jobs were created. 85.6% of the new hires were permanent, and salaries increased by 3.5%, above the average of other sectors. The sector's productivity has grown by 12.4% since 2023, compared to 10.2% for the Spanish economy as a whole.
Sales of tourism companies increased by 4.1%, but this increase did not translate into greater profitability due to a 7% rise in costs. Perelli pointed out absenteeism as one of the main current problems in the sector and called for solutions.
Spanish demand maintained its strength, with an increase in spending at domestic destinations of 4.8% and 8.8% at international ones
Foreign tourism was the main driver of demand. Spending grew more than arrivals, with a notable increase in American travellers, up 14.6%, leading the rise in hotel overnight stays this summer. The report also notes a decline in competing destinations such as Turkey and Cyprus due to the conflict in the Middle East.
In the tourist housing segment, the downward trend in illegal supply was broken following the repeal in May of the unique register by the Supreme Court. The decline in supply on digital platforms slowed to -8.3%, compared to -11.3% recorded between January and May. Perelli acknowledged the efforts of many municipalities to regulate these apartments and admitted the difficulties in achieving this.
For the end of the year, Exceltur anticipates a rise in air ticket prices as airlines' fuel coverage is decreasing. Tourism entrepreneurs expect a moderation in sales growth to 2.8%, conditioned by the deterioration of disposable income for families and businesses and increased pressure on costs.
In this context, Exceltur maintains its forecast for tourism GDP for the whole of 2026 at 2.7%, above the 2.5% forecast for national GDP
If these forecasts are met, the sector will contribute almost €227 billion to the Spanish economy, €14 billion more than in 2025.
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