16.04.2024 | 21:33

The luxury segment boosts tourism in Madrid

15 February, 2023

High-impact tourism is one of the segments with the most relevance and growth capacity in the tourism industry throughout Europe and a key axis in Madrid's tourism strategy. In Spain, high-impact tourism has an approximate value of between 20,000 and 25,000 million euros, mostly from foreign visitors. About 50% of these tourists’ spending goes on culture, entertainment and shopping and almost 30% on accommodation.

The spending of high-impact tourists in Spain is four times higher than that of other travellers and Madrid is the Spanish city which records the highest average daily spending by these visitors, at 272 euros.

© Abhishek Verma

One of the indicators of the recovery of impact tourism in Madrid is the recovery of tourist purchases of tax-free products. The Spanish capital is the third European city where sales 'without VAT' have recovered the most. From January to May they grew by 100%, only behind Paris (335%) and Milan (109%).