Business tourism

MEETINGS tourism is confirmed as one of the major driving forces behind the development of the tourism sector in the capital.

Last year, this segment had a direct economic impact of

€1.715 billion in the city of Madrid.

This figure represents 87 per cent of that obtained in 2019, before the pandemic, and which corroborates the good performance close to full recovery of this industry in the capital.

According to a report by Braintrust measuring meetings tourism in the city of Madrid in 2022, accommodation and extra­meeting expenses on shopping, leisure and/or catering were the items to which the highest percentage of expenditure was allocated, with 38 per

Village life

cent and 30 per cent respectively.

The rest was spent on registration (18 per cent), and consumption by accompanying persons (4 per cent).

It is also worth noting the high level of spending by international trade visitors, who accounted for 29 per cent of the total number of participants.

Their average expenditure stood at €1,539 in 2022, compared to €753 for domestic tourists.

In total, this visitor’s spending accounts for 40 per cent of the total.