MADRID, June 11 (Reuters) – Spain’s booming tourism industry will buoy the country’s overall economic growth rate to a solid 2.3% in 2024, much higher than its European Union peers, the Bank of Spain said on Tuesday.
In its quarterly outlook update, the central bank raised its growth forecast from a previous 1.9% three months ago. Last year, the Spanish economy expanded 2.5%.
“The positive surprise in activity is mainly due to the dynamism of tourism services exports,” the report said, adding that more foreign tourists are visiting more areas of the country and are spending more.
Source: REUTER
