Archives for 2011

December 30th, 2011

Total spending by foreign tourists who were in Spain between January and November 2011 increased by 8.1% reaching 49,985 million euros, according to the tourism expenditure survey (Egatur) prepared by the Tourism Studies Institute of the Ministry of Industry, Energy and Tourism. The average daily expenditure for that period was 102 ...

Continue reading Foreign Tourists Spent 50,000 Million Euros to November

December 30th, 2011

The number of mortgages on homes fell 43.6% in October compared to the same month of 2010, reaching 22,193 and which was 8,500 less than in the previous month and the lowest figure recorded in the entire series which started in 2003, according to the National Statistics Institute (INE). With this ...

Continue reading Spanish Mortgage Lending Lows

December 29th, 2011

Spain’s reform of the tobacco law has paid off, resulting in 600,000 fewer smokers and a reduction in sales estimated at 500 million packs during its first year in operation, according to estimates by the National Committee for Smoking Prevention (NPTC). The legislation, which came into effect on 2nd January 2011 ...

Continue reading Spain’s Anti-Tobacco Law Cuts Smokers by 600,000

December 29th, 2011

Mariano Rajoy’s new conservative government is scheduled to announce its economic plans this Friday and during the inauguration of Spain’s new government officials, PP Economy Minister Luis De Guindos said that the next two quarters "will not be easy" either for GDP or for the creation of employment, and added ...

Continue reading Spain’s Prime Minister to Announce Tough Economic Plans

December 28th, 2011

The credit rating agency Fitch has placed on "negative watch" the credit note of five autonomous Spanish regions, four provinces and five municipalities. The move comes following the recent decision to place Spain’s 'rating' under surveillance, along with the other eurozone countries. Specifically, the five regions whose credit rating are threatened are ...

Continue reading Fitch Warns Spain of Possible Rating Downgrade

December 28th, 2011

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, has called on European leaders to "speak with one voice" and to come up with a "detailed" schedule to address the debt crisis that threatens to destabilise the international financial system. "The world economy is in a dangerous situation", Lagarde ...

Continue reading ‘The World Economy is in a Dangerous Situation’, Says IMF Chief

December 27th, 2011

As a result of strike action by the pilots union SEPLA, Iberia are to cancel 118 flights on 29th December, which is 36% of those originally planned for this date, and which are those not covered by the Ministry of Development’s minimum services mandate. The Spanish airline said in a statement ...

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December 27th, 2011

Eviction procedures presented in the Spanish courts in the third quarter of the year totalled 10,869, which represents an increase of 14.2% over the same period last year, but less than the 16,464 evictions that occurred between April and June. According to data from the Supreme Judicial Council (CGPJ) published on ...

Continue reading Evictions Increased by 14.2% in Third Quarter

December 26th, 2011

About ten million people (22.5% of the population) in Spain are living in a situation of "relative poverty", with about 500 euros a month, and another two million are living in "severe poverty", with revenues of only around 300 euros per month, reported ABC News. As the president of the European ...

Continue reading Two Out of Ten Spanish Living in Relative Poverty

December 26th, 2011

Spanish hotels recorded 14.6 million overnight stays in November, representing an increase of 1.7% over the same month of 2010, while prices fell by 0.3%, a tenth lower than in November 2010, according to figures released on Friday by the National Statistics Institute (INE). The increase in hotel occupancy experienced in ...

Continue reading Hotel Occupancy Rose by 1.7% in November

December 23rd, 2011

An earthquake with an intensity of 2.9 degrees on the Richter scale occurred at 2329 hours on Monday night, with its epicentre about six miles deep, between the Rafael Mendez hospital and the Saprelorca industrial estate in Lorca, Diario Sur reported. Immediately, many residents jammed the phone lines of the local ...

Continue reading New Earthquake Fears for Lorca

December 23rd, 2011

The European Union (EU) have agreed to contribute 150,000 million euros in bilateral loans to the International Monetary Fund (IMF). If the United Kingdom had agreed to join in the efforts of the rest of the continent the figure could have reached 200,000 million euros. However, the German Foreign Minister, ...

Continue reading Eurozone Members to Contribute to IMF Rescue Fund

December 22nd, 2011

Neighbours of the municipality of Júzcar in Malaga, voted on Monday in favour of preserving the characteristic colour of their homes, which has already attracted over 80,000 visitors to their hometown. Júzcar will remain painted blue, after it was declared the world’s first official Smurf Village for the global promotion of ...

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December 22nd, 2011

Mariano Rajoy has called for the reform of the labour market to be a priority which needs to be done "soon". During the first half of January, the Government will receive the proposals and agreements, if any, of the social partners, and later submit a draft reform to the House ...

Continue reading Rajoy to Introduce Government Bonus for Hiring Young People

December 21st, 2011

For anyone who is still not familiar with the term 'mini jobs' - they are low-paid contracts with a maximum of 15 hours per week, and have been operating in Germany since 2003, serving to keep that country’s economy active in the darkest times of the crisis. The ECB has ...

Continue reading Spain to Consider ‘Mini Jobs’