GDP falls by 106 billion

Tourism continues to plummet. The year 2020 closes with a collapse of the tourism GDP (direct and indirect activity) of 106,000 million euros, 69% compared to 2019, as a consequence of the practical paralysis of the sector since the beginning of the Covid-19 pandemic, in March of last year, which It means returning to the levels of 25 years ago, in 1995. Exceltur, the alliance for tourism excellence, in which they are integrated 34 companies from the entire value chain, presented its report on the end of the year on Wednesday that paints a bleak picture: the weight of the sector in the Spanish economy it has fallen from the 12.4% that it represented in 2019 to 4.3%.

It has also had a great impact on employment, with 728,000 jobs affected at the end of the year, 435,000 files for temporary employment regulation (ERTE) and 293,000 people who have lost their jobs. If in the economy as a whole employment has fallen by 2.5%, in tourism it has done so by 38%. While in the economy as a whole employment has fallen by 2.5%, in tourism it has fallen by 38%, the executive vice president of Exceltur said in a meeting with the media, José Luis Zoreda.

The fall, greater in international tourists

This disaster has led to this alliance to demand a “solid” support plan from the government and rescue to the sector, comparable to that of other European Union countries, with a non-reimbursable aid package of 5,316 million euros for the next six months, the conversion of the ERTE mechanism into a structural one and a rapid vaccination schedule to release travel restrictions.

In 2020 the crash has been higher in international tourist arrivals, – 65 million less than in 2019 due to border closures and travel limitations – but they have also been felt in internal movements, which have fallen by more than 40%. Starting in mid-March, with some timid recovery in July and the first half of August, lockdowns, health insecurity, travel limitations, imposition of PCR tests for foreign visitors and the weakness of inland tourism has finished off a “dramatic” year.

At the end of this year just begun, Exceltur anticipates that the tourism GDP may reach 96,369 million euros, that is, 48,000 million above 2020, but still 37.6% below the 154,487 million in 2019. In percentage of GDP, tourism would rise to 8.2% in 2021. Most businessmen (74%) believe that the full recovery in sales in 2019 will not occur until at least the second half of 2022, provided they have direct aid, not in the form of loans, to overcome the “growing agony” of liquidity and possible losses in solvency.

Source: LA INFORMACIÓN – Lo último by

*The article has been translated based on the content of LA INFORMACIÓN – Lo último by If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!