Overview

• Exceltur now expects a 2.7% rise in tourism sector sales for the third quarter, down from an earlier 4% projection
• The slowdown is attributed to global geopolitical uncertainty, including President Trump’s tariff threat
• Weakening U.S. visitor spending is being partially offset by surging Asian arrivals, with Chinese visitors up 17.3% and Japanese travelers up 7.4%
• Regional summer growth forecasts diverge, ranging from 3.7% in the Balearic Islands to 2.8% in the Canary Islands and 1.9% in Murcia
• Tourism still contributes 13.2% of Spain’s GDP and is set to deliver 18.3% of its projected economic growth for 2025 despite persistent labor shortages and infrastructure bottlenecks