Latin Americans compete with Asians for the luxury tourist throne in Spain

11-07-24

• Elite tourists spent an average of €50,800 on luxury brands, 19% more than in 2019.

In the center of Madrid and Barcelona, where luxury brands are concentrated, different accents are heard. The days when the big names were eagerly awaiting the arrival of Asian tourists are long gone: now it is Latin Americans who are competing to be the most valuable customers. According to the report "The Elite Tourist" by international tax-free operator Global Blue, prepared for Círculo Fortuny, 18% of tourists seeking luxury products in Spain come from China, closely followed by 17% of Latin Americans. In third place are Americans, with 15%, who are showing a growing interest in Spain.

In general, Spain is experiencing a "great moment of growth in shopping", according to the director of Global Blue Spain, Ainara Andueza. "There are more tourists who are also spending more." Among Latin Americans, Mexicans (38%) and Brazilians (28%) stand out. As with other nationalities, their profile is increasingly younger: 42% are millennials (born between 1981 and 1996). Of luxury shoppers visiting the European Union, 65% choose Spain, spending an average of 27,400 euros, 73% of which is on luxury products in cities such as Madrid and Barcelona.

In contrast, Americans prefer Spain by 33%, behind France and Italy, and spend an average of 19,500 euros, of which 80% is spent on luxury, both in large cities and in secondary locations such as Marbella. After the pandemic, one in four Chinese tourists repeat their experience in Spain, although with less frequency and duration, spending an average of 22,300 euros and preferring to invest in handbags (42% of the total). Tourists from the Gulf countries also contribute to the luxury market in Spain: 18% of them visit the country, spending an average of 2,300 euros, a lower outlay compared to France and Italy (5,500 euros and 3,700 euros respectively).