PROSPECTS AND OPPORTUNITIES
More Spaniards will be unable or unwilling to afford luxury hotels, hampering growth
Experiential luxury is set to see only a low retail current value CAGR in Spain over the forecast period. With foodservice luxury set to remain negligible, the retail value sales and growth of luxury hotels will again mirror the overall performance of experiential luxury.
Protests against mass tourism may lead some tourists to choose different destinations
The latest figures for 2024 show that the number of tourists to Spain continues to grow, as does their expenditure, and these trends are set to continue in the forecast period, which is expected to contribute to the low growth anticipated for luxury hotels. However, the latest campaigns by locals, with protests against mass tourism and its impact on locals, especially in areas where tourism is high, such as Ibiza or Barcelona, might limit the number of tourists; especially those seeking a luxury experience.
Continued expansion expected by international players in hotels
Despite the anticipated challenges for experiential luxury in Spain, there is still potential for growth in luxury hotels, and the main players are aware of this and continue to open new hotels. For instance, in 2021 the first Four Seasons hotel opened in Madrid, and in 2024 the second one was opened in Mallorca.
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Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in Spain, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Experiential Luxury in Spain report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Experiential Luxury in Spain?
- Which are the leading brands in Experiential Luxury in Spain?
- How are products distributed in Experiential Luxury in Spain?
- How important is tourism in evaluating demand for Experiential Luxury in Spain?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Experiential Luxury in Spain - Category analysis
KEY DATA FINDINGS
Luxury hotels continues growing, driven by both inbound and domestic demand
Social media targets a younger audience
Leading players lose share as they are challenged by new entrants
More Spaniards will be unable or unwilling to afford luxury hotels, hampering growth
Protests against mass tourism may lead some tourists to choose different destinations
Continued expansion expected by international players in hotels
Luxury Goods in Spain - Industry Overview
Luxury goods in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for luxury goods?
DISCLAIMER
The following categories and subcategories are included:
Experiential Luxury
- Luxury Foodservice
- Luxury Hotels
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsWhy buy this report?
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- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Experiential Luxury research and analysis database.
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