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The last months of the year have been characterized by an improvement in tourist spending in Spain compared to the summer, driven by the good behavior of consumption by both Spaniards and foreigners. This is what is inferred from BBVA credit card spending data.

Cantabria's economy will grow by 2.0% in 2023, and will accelerate to 2.5% in 2024. This will allow a return to the pre-pandemic GDP level this year.

According to BBVA card spending data, the summer months have been characterized by a slight improvement in tourist spending compared to the beginning of the year, driven by the good behavior of consumption by Spaniards and despite the sluggishn…

Asturias' GDP could grow by 2.1% and in 2023 recover the pre-pandemic level. By 2024, the increase in activity will accelerate to 2.5%, and during that year it is expected to be able to recover GDP per capita. If these forecasts are met, Asturi…

In a context where domestic demand has been weakening due to the effects of inflation and rising interest rates, exports have taken over as the driving force behind economic growth, warranting an upward revision of Spain's GDP growth to 2.4% in…

During the first four months of the year, total tourist spending (domestic and foreign) was 39pp above that observed during the same period of 2019 (5pp more than in the previous four-month period), according to spending data with BBVA credit card.

Consumption picks up again in the first quarter of 2023, which continues to boost the most touristic regions. Furthermore, the more industrially oriented territories are benefiting from the gradual disappearance of bottlenecks and lower energy costs.

The GDP of the Balearic Islands increased by 10.7% in 2022. We forecast an increase of 3.1% in 2023 and 3.2% in 2024, which will allow the creation of 39,000 new jobs between 2022 and 2024.

The GDP of the Canary Islands will increase by 10.7% in 2022. We forecast an increase of 2.8% in 2023 and 3.3% in 2024, which will enable the creation of 69,000 new jobs between 2022 and 2024.

Between September and December 2022, tourist spending made by Spaniards outside their usual province of residence was 26 pp above the 2019 figures, according to data on spending with credit cards from BBVA. However, a stagnation is observed whe…

Catalonia's GDP increased by 5.2% in 2022. We expect an increase of 1.5% in 2023 and 3.6% in 2024, which will allow the creation of 151 thousand jobs in the biennium.

One of the best surprises of 2022 has been the recovery by tourism. However, there are reasonable doubts regarding the industry's future outlook. A downturn could have major implications for the economy.