High-speed rail passengers in Spain shoot up 77% and prices drop 40% thanks to competition

The arrival of competition in the high-speed train sector has led to an unprecedented passenger boom. Data published on Wednesday by the national market and competition regulator (CNMC) indicates that the new operators (Iryo and Ouigo) have managed to increase the number of passengers in 2024 by 22%, compared to 2023, and by 77%, compared to figures from before the liberalisation of the sector.

All high-speed lines registered record passenger numbers, largely due to the reduction in ticket prices. The Madrid-Valencia corridor has seen a reduction of up to 42% and the Madrid-Barcelona one has also seen its prices fall by 35%, despite being the most demanded. On the Madrid-Seville, Madrid-Malaga and Madrid-Alicante routes, where 2024 was the first full year with competition, ticket prices fell by around 20%.

The total number of passengers across all rail services reached 549 million in 2024, 3% more than in 2023 and 5% more than in 2019 (right before the service was liberalised). The vast majority (82%) were short-distance Cercanías users, but the report also highlights the 34.2 million high-speed passengers in 2024.

The Madrid-Barcelona corridor grew proportionally less, but this is mostly due to it having been the first with compeition. The number of passengers on the Madrid-Valencia line grew by 10%. In passenger numbers, it was followed by Madrid-Seville and Madrid-Malaga/Granada, with a 28% growth. The Madrid-Alicante corridor experienced a 33% growth.

Although national railway operator Renfe remains the leading one, market share has been changing since the arrival of competition. Renfe retained a share of between 50% and 73% in 2024 on the lines with competition. Iryo reached 28% in Madrid-Andalucía, while Ouigo reached that on the Madrid-Alicante.

Railway travel has also gained market share over air travel.