In Spain, local tourism finally competes with foreign one
MADRID | The Corner | Spanish national tourism starts to reactivate: the number of travellers residing in Spain grew at the same rate than the number of residents abroad. The recovery in tourist expenditure of the Spanish households suggests that the private consumption may grow in the 2Q14 –although probably at a slower pace than in the previous quarters (+0.4%). The evolution of the heavy traffic in Spain’s toll motorways also points at a recovery in the domestic demand, which is a necessary component to compensate for the loss of pulse of the external sector and allow a new quarterly advance in the 2Q14 activity (+0.4%).