The aim of this study is to analyze the invigorating effect of the Way of St. James in the Galician rural areas. To do so, we have chosen as a territorial scope the 14 rural municipalities that the “French Way” crosses in this Autonomous Community. The utilized data come from the Bank of Municipal Data of Instituto Galego de Estatística (IGE). A double approximation on the impact of this route has been made: on one hand, we analyze the behavior of different socioeconomic variables during the last two decades in the selected municipalities. On the other hand, we examine to what extent a more favorable dynamic has been witnessed in similar rural territories that do not have access to this product. Although the results of the analysis should be taken as a first approximation, data point to the existence of a very moderate impact of the Way of St. James, in the sense that the development of tourism activities linked to the Way are not sufficient to reverse the demographic and economic decline of these rural areas.