Spain EUR

Spain Tourist Arrivals

Impact:
Low
Source: National Statistics Institute (INE)

Latest Release:

Date:
Surprise:
-334K
Actual:
2216K
Forecast: 2550K
Previous/Revision:
1363.6K
Period: Jun
What Does It Measure?
The Spain Tourist Arrivals indicator measures the number of international visitors arriving in Spain over a specified period. This data primarily focuses on tourism demand, assessing economic components such as hospitality sector performance, employment in related industries, and overall economic activity tied to tourism.
Frequency
This report is typically released monthly and consists of preliminary estimates that can later be revised, reflecting the arrival figures from the previous month, usually published in the first week of the following month.
Why Do Traders Care?
Traders pay attention to tourist arrivals in Spain as strong data can indicate healthy economic conditions and bolster the tourism sector, positively impacting related investments in currencies and equities. Higher-than-expected tourist arrivals often lead to bullish behavior in the euro and Spanish stocks, as it suggests increased consumer spending and economic growth.
What Is It Derived From?
The figure is derived from data collected at various entry points, including airports, seaports, and borders, with information provided by international visitors regarding their travel purpose and nationality. The data is aggregated and analyzed by the National Institute of Statistics in Spain, using standardized methodologies for accurate reporting.
Description
Preliminary reports on tourist arrivals indicate early estimates of the tourism sector's activity, while final reports provide a refined view based on complete data which may include adjustments to earlier figures based on more comprehensive analysis. For this indicator, a year-over-year (YoY) comparison is employed to highlight long-term trends in tourism and to smooth out seasonal variations often seen in monthly data.
Additional Notes
The Spain Tourist Arrivals indicator is considered a coincident economic measure, directly reflecting current economic performance related to the tourism industry. It serves as a crucial indicator of broader economic trends, particularly in regions heavily reliant on tourism, influencing policy decisions and investment strategies both domestically and across the Eurozone.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for EUR, Bullish for Stocks. Lower than expected: Bearish for EUR, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Aug 03, 2021
2216K
 2550K
1363.6K
 -334K