spanish economy
May 16th, 2013
In five years, the economic crisis has caused the loss of over 600,000 jobs in tourism, a sector considered to be Spain’s economic engine, and where the unemployment rate already reached 21.4% in the first quarter of the year. In the first quarter of 2008, when the Spanish economy was still ...
Continue reading Crisis Destroys 600,000 Tourism Sector Jobs in Five Years
March 27th, 2013
The export drive in the Spanish economy intensified at the start of 2013 as exports from the country totalled 17.88 billion euros, an increase of 7.9% over the same month of last year. The pace of growth in December 2012 stood at 4.6%, meaning that the result in January indicates ...
Continue reading Growing Spanish Exports Above EU Average
March 4th, 2013
Overnight stays in Spanish hotels totalled 11.9 million in January, which is 5.2% less than for the same month of 2012, and is mainly due to the 12.4% drop in domestic tourism to 4.4 million overnight stays. The number of overnight stays by foreign tourists fell by 0.4% and stood ...
Continue reading Hotel Occupancy Down 5.2% in January
February 28th, 2013
The Prime Minister, Mariano Rajoy, announced on Tuesday that Spain closed 2012 with a deficit of 6.7% of GDP, while in structural terms the deficit has lowered by 3.5 percentage points. The figure is lower than expected by the European Commission on Friday, although it notes that Spain will not ...
Continue reading Rajoy Announces Spain’s 2012 Deficit at 6.7% of GDP
February 27th, 2013
The Spanish Government announced their approval last week of over 50 measures to support entrepreneurs and stimulate growth and the creation of employment. They have also modified legal fees and brought forward the entry into force of free legal aid for certain groups of people. Vice-President of the Spanish Government, Soraya ...
Continue reading Government Approves Measures to Aid Youth Employment
February 18th, 2013
BBVA Research has improved its forecasts for the Spanish economy and has predicted its fall in 2013 will be 1.1% of the GDP, which is three points less than its previous forecast. However, they have worsened their estimates for unemployment by seven tenths, to 26.8% of the working population. This is ...
Continue reading BBVA Revises its Forecasts for Spain for 2013
February 12th, 2013
According to the latest data from the National Statistics Institute, the harsh recession maintaining its grip on activity and consumption is to blame for the fall of 5.9% in industrial output in 2012, compared to 2011 on an annual average. The decline in the sector intensified in the last month ...
Continue reading Industrial Output Plunges 5.9% in 2012
January 29th, 2013
The Spanish Minister of Economy and Competitiveness, Luis De Guindos, has expressed his view that the Spanish economy will stabilise in the third quarter of 2013 after a "very long" crisis and that the Gross Domestic Product will start to grow again from the fourth quarter of the year. In a ...
Continue reading De Guindos Optimistic Over Growth of Spanish Economy
January 21st, 2013
Spain received around 57.9 million tourists in 2012, representing an increase of 3% compared to the previous year, when the figure was 56.9 million. This figure places 2012 as the third best year ever in the arrival of tourists to Spain after 2006 (58.4 million) and 2007 (59.2 million). Spain’s Minister of ...
Continue reading Spain Gained a Million Tourists in 2012
January 17th, 2013
Prince Felipe of Asturias said on Tuesday that it's time to invest in Spain, because it is heading towards the exit from the crisis. During the inauguration of Spain Investors Day the Prince said that, although the changes have not yet been completed, the reforms are paying off because the ...
Continue reading “It’s Time to Invest in Spain”, says Prince of Asturias
