Spain consolidates its position as a leading destination for music tourism
7 August, 2024Music tourism has established itself as one of the main travel trends in Spain this year, generating a turnover of €578 million, according to the GAT group. Festivals such as MadCool, FIB Benicasim and Arenal Sound stand out for their ability to attract thousands of visitors, creating a huge economic impact and numerous jobs in the country.
Music festivals are experiencing one of the fastest growth rates in the industry, attracting the attention of major investment funds. MadCool, which took place in early July in Madrid, had a budget of 25.6 million euros and is estimated to have generated an economic impact of 46 million and almost 7,000 jobs.
Furthermore, 10% of the attendees at these festivals are international tourists, although the proportion is increasing, and in cases such as Primavera Sound, they represent up to 50% of the audience, which underlines the international dimension of these events and their potential for further growth.