Gastronomy drives the Spanish economy with 375 billion euros in 2023.

In a report presented today in collaboration with the Royal Academy of Gastronomy, KPMG has revealed the magnitude and impact of the gastronomy sector on the Spanish economy. With a weight of 27.4% of the gross value added (GVA), gastronomy represents a significant sum that reaches nearly 375 billion euros. This sector not only includes chefs and restaurants, but also extends to a complete ecosystem that encompasses agricultural production, livestock, fishing, the food and beverage industry, as well as distribution and hospitality. The study highlights that the direct contribution of gastronomy to GVA is over 211.1 billion euros, while the indirect contribution amounts to 163.449 billion. This comprehensive approach allows for a glimpse into the interconnection of various sectors that, together, sustain one of the most dynamic industries in Spain. Hospitality, for example, accounts for more than 43% of the total, a figure that underscores the importance of restaurants and bars in the local economy. The report also reveals that there are over 700,000 businesses operating in some link of the gastronomy sector, constituting more than 20% of the business fabric in Spain. This highlights the relevance of the sector not only from an economic perspective but also in terms of employment and business development. In total, more than 7 million jobs are generated, equivalent to 37% of the national labor market, a figure that illustrates the sector's capacity to absorb labor in various trades. The recovery of the sector after the pandemic is another key point highlighted by KPMG. According to the report, the socioeconomic contribution of gastronomy has grown significantly in recent years, recovering almost all levels of its impact prior to the COVID-19 crisis. In 2023, the direct contribution to GVA stands at 15.4%, very similar to the 15.5% of 2019. However, the sector continues to face challenges, especially regarding staff shortages. The report also mentions a diverse labor landscape that includes everyone from livestock farmers, agricultural workers, and fishermen to chefs and waiters, reflecting the variety of trades that contribute to the gastronomic ecosystem. This vast spectrum of professions is not only vital for production and service but also highlights the importance of local products, such as olive oil and Iberian ham, which are pillars of Spanish gastronomy. In addition to the economic impact, the report emphasizes the international projection of Spanish gastronomy. Restaurants like Disfrutar, Etxebarri, and DiverXO have managed to position themselves among the best in the world, recognition that showcases the excellence and creativity of Spanish chefs. This global recognition not only enriches the country’s gastronomic culture but also attracts tourists seeking unique culinary experiences. Gastronomic tourism has become a key driver for the Spanish economy, with spending on gastronomy by international tourists exceeding 17 billion euros in 2023, a 24% increase compared to pre-pandemic levels. This growth in average per capita spending on gastronomy highlights the central role that culinary offerings play in attracting visitors. On the other hand, food and beverage exports have reached a historic record of 66.796 billion euros in 2023, demonstrating the growing international demand for Spanish products. These figures reflect a notable increase over the last decade, solidifying the gastronomy sector as the third largest exporter in the Spanish economy. KPMG's report concludes that gastronomy is a key sector for the Spanish economy, not only for its direct and indirect economic contributions but also for its ability to generate employment and attract tourism. As the sector recovers and adapts to new realities, it seems well-positioned to continue its role as an economic and cultural engine of the country. Institutions and stakeholders in the sector will now have the opportunity to use this data to further strengthen an ecosystem that is already fundamental to Spanish well-being and identity.