Feasting on Luxury: How Haute Cuisine and Hospitality Have Bounced Back Despite Economic and Geopolitical Crises

The health sector has experienced a 13% increase in turnover, reaching 1,700 million euros in 2019, despite economic and geopolitical crises that have impacted people’s daily lives. According to a report titled “Perspective of Haute Cuisine and Hospitality in Spain” presented by the Círculo Fortuny, this growth is due to various factors that emerged after the COVID-19 pandemic.

One key factor driving the growth in the luxury dining sector is the interest from tourists and “semi-residents” from LATAM and the USA who temporarily live in Spain and seek out these dining experiences. Additionally, changes in work models with less physical presence have led more people to travel to different cities for business reasons, where they take the opportunity to indulge in luxury dining experiences.

The luxury sector as a whole reached a total turnover of 17,000 million in 2022, with haute cuisine leading the way with a 13% increase. This growth has positioned haute cuisine ahead of other categories such as hospitality and wellness, fashion, accessories and leather goods, as well as cosmetics and fragrances.

At an event led by the president of Círculo Fortuny, Xandra Falcheld, it was highlighted that haute cuisine and hospitality now represent 20% of all income associated with “luxury experiences” in Spain, amounting to 8.6 billion euros. The report also identified four types of local and global clients – the Connoisseur, the Visible, the Experiential, and the Hiker – each with their own preferences and characteristics.

Spain’s position as the fifth country in the world with the most Michelin-starred restaurants further highlights the growth of haute cuisine in the country. There has been a significant increase in establishments with this distinction since 2015, showing that haute cuisine is no longer limited to large cities like Barcelona and Madrid but has expanded to include cities like Girona,