Madrid: a tourist destination of excellence in 2023
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Libro_Madrid Destino 2023_digital_OK.pdfMadrid: a tourist destination of excellence in 2023
Recently, Madrid's tourism authorities have presented exceptional data for 2023, consolidating the city as one of the most important tourist destinations in the world. The city has managed to stand out not only for its cultural and leisure offerings, but also for the quality of its services and the hospitality of its inhabitants. The "Madrid Destination 2023" report reveals impressive data and celebrates the numerous achievements in the field of tourism.
Recognitions and International Positioning
In 2023, Madrid was recognized as the third best urban destination in the world, behind only Paris and Dubai. The city also earned the title of top global destination for business tourism, underscoring its importance in the business sphere. In addition, the Carabanchel neighborhood was chosen as the third best neighborhood in the world, and Madrid ranked second among LGTBIQ+ friendly destinations in Europe.
Growth in International Tourism
Tourism in Madrid has experienced remarkable growth, especially internationally. In 2023, the city received a total of 10,572,510 visitors, surpassing 2019 figures. Of these, 5,719,030 were international visitors, representing 54% of the total. Spending by these visitors reached 13,366 million euros, an increase of 38.8% over the previous year. This growth was driven by key source markets such as the USA, Italy, France, Mexico and the UK, with a notable increase in visitors from China, which grew by 153% over the previous year.
Innovation and Sustainability
Madrid has made a commitment to innovation and sustainability as central pillars of its tourism strategy. The city has revitalized its public spaces, invested in hotel infrastructure and promoted major cultural and sporting events. The goal is to adapt to the new demands of global tourism, offering a high quality experience that benefits the entire value chain of the sector.
Multidestination?
It is on the cover of all marketing books that tourists who undertake transoceanic trips do so mainly to visit several destinations. It is hard to believe that a Japanese, Korean or Chinese traveler arrives only to Buenos Aires, Rio de Janeiro or Asuncion.
As a bloc, beyond the past marketing blunders, we should try to sell “the Mercosur package”, shouldn't we?
Then, how can we propose attractive products in terms of duration, ease and attractiveness, if we cannot guarantee the free transit of goods and people and eliminate bureaucratic obstacles?
Events and High End Tourism
Event tourism has played a crucial role in Madrid's attractiveness. In 2024, the city expects major events such as the Taylor Swift concert at the renovated Santiago Bernabéu stadium and the arrival of Formula 1 in 2026. In addition, the luxury hotel segment has grown by 11.43%, with a total of 39 five-star establishments, reaffirming Madrid's position as a high-end destination.
Decentralization and New Initiatives
The Madrid City Council has initiated a process of decentralization of the tourist offer, promoting other districts of the city to distribute the benefits of tourism in an equitable manner. Examples of this are the intervention in the Usera district, known as the "Chinatown of Madrid", and the rehabilitation of the Casa de Campo de Felipe II (Palacete de los Vargas). These initiatives are part of a broader effort to make Madrid a smart and sustainable tourist destination, taking advantage of Next Generation funds for projects that improve the destination's competitiveness.
Future Prospects and Expectations of the Sector
Tourism industry professionals have an optimistic view of the future. According to a survey by Madrid Destino's Tourism Intelligence Center, 92% of respondents stated that their company's turnover increased in 2023, and 65.5% said the increase was significant. By 2024, 83.9% of respondents expect their company's turnover to experience a moderate or strong increase.
The authors are responsible for the choice and presentation of the facts contained in this document and for the opinions expressed therein, which are not necessarily those of Tourism and Society Think Tank and do not commit the Organization, and should not be attributed to TSTT or its members.
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