Markets

Spain

Market Characterization for Portugal

In 2025, Spain ranked as the 4th largest source market for Portugal in terms of overnight stays (share: 9.1%) and the 3rd largest in terms of guests (share: 11.7%). In 2025, the Spanish market recorded approximately 2,310,500 guests (year-over-year change: -3.3%), who generated 5,173,400 overnight stays (year-over-year change: -5.2%). It stands out as the 5th largest market in terms of tourism receipts, with €2,939.6 million (share: 10.1%), up 3.6% compared to 2024.

In terms of overnight stays, the Norte is the top domestic destination for tourists from Spain visiting Portugal (29.9%), followed by Lisboa (23.2%) and the Algarve (15.9%). By type of accommodation, hotel stays predominated (65.0%), followed by alojamento local (17.5%) and hotéis-apartamentos (7.2%).

The airlines that transported Spanish tourists to Portugal were: TAP Air Portugal (25.6%), Ryanair (share: 23.0%), Vueling (15.3%), Air Europa Líneas Aéreas (12.5%), Iberia (12.1%), and easyJet (Europe) (7.3%). Most flights originated in Madrid (41.0%), followed by Barcelona (29.1%), Seville (4.9%), Valencia (4.7%), Málaga (4.3%), and Palma de Mallorca (3.2%).

According to SIBS data, the Norte accounts for 35.7% of the €610.4 million in card spending originating in Spain in 2025. The Centro region ranks fourth (share: 7.9%), behind Lisboa (23.4%) and the Algarve (15.5%).

2025 Position | Year-over-Year Change

Guests 2.3M 3º | -3.5%

Overnight stays 5.2M 4º | -5.3%

Tourism receipts 2836.3M€ 5º | 3.6%

Disembarked passengers 3.7M 3º | 2.6%

Market Profile

Change 25/24

49.4 M Population

1.0 %

57033.8 USD GDP per Capita

4.3 %

2.7 % Inflation Rate

-0.2 pp

24.3 % Savings Rate

0.0 pp

Spain, with 48.8 million inhabitants in 2024, was the 15th largest economy globally and the 4th largest in the EU. In 2024, it ranked as the 14th largest global tourism source market, generating 27.6 million trips (1.9% of global demand), of which 83.8% (23.1 million) were within Europe (GlobalData).

The main regions sending tourists to Portugal were Madrid (49.8%), Barcelona (20.4%), Valencia (7.1%), Málaga (4.6%), Bilbao (4.3%), Seville (3.2%), Alicante (3.0%), Palma de Mallorca (1.6%), Las Palmas (1.4%), Ibiza (1.3%), Tenerife (1.2%), and others (2.1%).

By transport, 67.6% of trips abroad were by air, 31.6% by land, and 0.8% by sea. By travel type, couples represent 33.5%, families 26.3%, groups 24.5%, and individual travelers 15.7%. The most represented age group is 50–64 (25.9%). In 2024, leisure travel accounts for 86.6% of outbound trips (including VFR), followed by business (9.1%) and other reasons (4.3%).

Team

Market team coordinator

Maria de Lurdes Vale

info.espana@turismodeportugal.pt

0034917617254

Outlook

IMF data indicate that Spain’s economy grew by 3.5% in 2024, despite the current unfavorable international environment, particularly the conflicts in Ukraine and the Middle East, rising costs of energy and other raw materials and intermediate goods. Slower growth is projected for 2025 and 2026, at 2.9% and 2.0%, respectively.

According to GlobalData, between 2025 and 2029, international departures by tourists from Spain to foreign destinations are expected to grow at a CAGR of 5.1%, reaching a total of 34.8 million departures in 2029. Spending by Spanish tourists abroad is projected to increase at a CAGR of 8.0% over the same period.

According to Forwardkeys, flight forecasts in terms of passengers originating from the Spanish market to Portugal for the period from December 2025 to May 2026 point to a 14.7% increase compared to the same period the previous year.

TOP 10 destinations: France (share: 26.2%), Italy (14.9%), United Kingdom (9.4%), Portugal (8.6%), Morocco (4.3%), Germany (4.0%), USA (3.2%), Netherlands (3.1%), Ireland (1.9%), and Greece (1.8%).