August saw a smaller reduction in the amount of people who stayed in hotels in Spain due to the fact that many Spaniards decided to holiday closer to home. The financial crisis is weighing heavily on the tourism sector of Spain which makes up about 11% of the Spanish GDP.

Over the last year the recession has already reduced the GDP from Spain’s tourism given the fact that most people are choosing to stay at home or find cheaper alternatives to flying to the Costas.

Statistics from the National Statistics Institute found that overnight stays in Spain’s hotels fell 5% in August when compared to last year’s numbers which is still a slight increase over July’s year on year drop of 5.5%.

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