Why didn’t the huge booty of the conquistadors in the 16th century enrich Spain and Portugal?

Why didn’t the huge booty of the conquistadors in the 16th century enrich Spain and Portugal? Which countries in Europe have benefited the most from the conquest?

All the profits from the conquest were spent by the kings of Spain and Portugal on “great power enterprises” such as the wars for Italy and the fight against the Turks. Wars contributed to the development of the military industry and the enrichment, in particular, of countries such as the Netherlands and Germany, since this was where military orders were placed.