The Bank of Spain warns of the impact of climate change on tourism

23-05-24

The Bank of Spain has issued a warning about the significant impact that climate change could have on the Spanish tourism sector. According to a recent study published by the banking supervisor, entitled 'The recent diversification of international tourist flows to Spain', climate change is already altering tourism patterns in the country, with a notable increase in foreign tourist arrivals during the autumn and winter months, versus much more modest growth in the summer months.

The report notes that in July 2023, the European Commission published a study identifying some regions of Spain as particularly vulnerable to climate change. Although the tourism sector initially downplayed the possibility of a significant decline in tourism due to high temperatures, the Bank of Spain insists on not underestimating this risk.

“It is important to highlight that our country is particularly exposed to the physical risks associated with climate change, so the impact of global warming on tourism activity could have a more adverse impact than has been observed in recent years,” the Bank of Spain report states.