Strong euro and Trump policies dampen American spending
Spain is seeing fewer tourists from the United States, which could lower tourism GDP growth by about one percentage point in 2025. Still, the sector is projected to grow by 2.7% per year, outpacing Spain’s overall economy.
A strong euro, a weaker US economy and uncertainty after Trump’s election are the main reasons, writes El País. US arrivals dropped from 17.5% annual growth before the election to just 2.3% afterwards. Spending by US tourists has also fallen, reversing an earlier growth trend.
In 2024, 4.26 million Americans visited Spain, accounting for 4.5% of total arrivals but nearly 10% of per-visitor spending. Major cities like Madrid and Barcelona are most affected, while coastal and rural areas feel less impact.
