This is according to the IMPACTUR study, prepared by the Alliance for Tourism Excellence (Exceltur) in collaboration with the Regional Ministry of Culture, Tourism and Sport, which forecasts 7% growth compared to 2024 and a historic high in GDP contribution, up one tenth of a percentage point from the previous period.
“In 2025, tourism strengthens its role as one of the main drivers of economic development and prosperity, thanks to a model based on profitability and aligned with the values and lifestyle of Madrid society,” said the Minister of Culture, Tourism and Sport, Mariano de Paco Serrano, at the presentation of the report today at Forbes House.
The key factors behind this increase are primarily the 9.6% rise in foreign visitors’ consumption and the dynamism of investment (+6.9%), together with more moderate growth in public spending (+4%) and domestic consumption (+2.7%). This growth confirms a trend toward the normalization of the sector’s expansion rates, following the exceptional increases of 13.2% in 2024 and 21.5% in 2023, in a context marked by geo-economic challenges and developments in certain European markets.
Based on 2024 data, the study analyzes the impact of tourism activity on factors such as employment, confirming the creation of 317,537 jobs in 2024—a historic high—representing growth of 9.8%. The tourism sector, which accounts for 8.3% of total employment in the region, has grown by almost one percentage point compared to 2019 (7.4%), surpassing pre-2019 levels. This growth has been driven by the creation of new businesses, including accommodation companies (+9%); artistic and leisure activities (+10.9%); air transport (+18.6%); and vehicle rental (+47.8%) between 2019 and 2024.
Thus, between 2019 and 2024, 16.6% of all jobs created can be attributed to the dynamism of this sector, both due to the increase in the number of tourism-related companies and the staffing needs associated with higher value-added offerings. Meanwhile, tax revenues generated by the activity amounted to €9.972 billion in 2024.
Balanced growth model
The study also concludes that the Madrid Region maintains a balanced growth model, with a pressure of 3.3 tourists per 100 residents—well below the national average (7.3). Although the capital concentrates a large share of activity, tourism energizes almost the entire region, as 156 of the 179 municipalities (87.2%) offer accommodation. In nearly 18% of cases, tourism generates more than 10% of local employment.
In 2024, the Madrid Region welcomed 16.5 million tourists, 8.8 million of whom were international visitors, and total tourism expenditure reached €19.595 billion—17.5% more than in the previous year.