Archives for September 2011

September 30th, 2011

Foreign tourist expenditure in Spain is at an all-time high in 2011, with average daily spend of 99 euros and an average spend per tourist of 925 euros. Records began to be kept in 2004 and this years figures beat the previous record of 36,213.6 million euros spent by foreign tourists ...

Continue reading Record Tourist Expenditure in 2011

September 30th, 2011

Spain's central bank chief has confirmed that the 13.39 billion euro clean-up of its banks has completed. He has now called on Europe's policymakers to solve the sovereign-debt crisis that now threatens the health of banks across the EU. "What is obviously a priority is the resolution of the sovereign debt ...

Continue reading Spanish Bank Restructuring Now Complete

September 29th, 2011

Pressure from other political parties and major banks has led to the abandonment of the part privatisation of the national lottery. The government has been under pressure not to float the company and Esteban González Pons, the main opposition spokesman, said that his party will not privatise the lottery company. The decision ...

Continue reading Spanish Lottery Sale Called Off

September 29th, 2011

The autonomous government of Catalonia plans a sale-leaseback of 26 buildings in Barcelona worth €450m as Spain’s regional administrations in general pursue cost-cutting measures. The buildings in Barcelona include the stock exchange and buildings occupied by the economy, agriculture, justice and education secretariats, as well as Catalonia’s revenue and treasury offices. Realtors ...

Continue reading Local Governments Offloading Valuable Real Estate

September 28th, 2011

The Canary Island of El Hierro, the smallest and farthest southeast of the Spanish Atlantic archipelago, is steeling itself for a possible volcanic eruption after a series of tremors was felt during the weekend. The strongest of these, 3.4 on the Richter scale, shook El Hierro on Saturday. The regional government ...

Continue reading Concern that El Hierro’s Volcano May Erupt

September 28th, 2011

The central government's budget deficit narrowed in the eight months to August, improving the chances of meeting its deficit goal. A 30.9 billion-euro deficit was reported, or 2.83 percent of gross domestic product, compared with 3.28 percent a year earlier, the Finance Ministry said today. For the full year, the central government ...

Continue reading Spanish Budget Deficit Target on Track

September 27th, 2011

The number of crimes in Spain dropped by 3.6% during 2010, when compared to the previous year. Nine out of 10 of those convicted were male, with less than 10 percent female. One area which demonstrated an increase in convictions was deception related crimes, such as fraud, money laundering/counterfeiting and crimes ...

Continue reading Crime Rates Fall Across Spain

September 27th, 2011

Jose Luis Rodriguez Zapatero dissolved the Spanish parliament yesterday – four months earlier than required – setting the stage for a 20 November general election. To formalise the arrnagements, Zapatero signed a decree dissolving the legislature and informing King Juan Carlos. It is almost guaranteed that the move will bring in a ...

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September 26th, 2011

Spain’s trade deficit narrowed in July to its lowest level for 13 years as exports surged and the number of foreign tourists hit record figures. The trade shortfall was 1.64 billion euros, down 62 percent from a year earlier and the lowest since July 1998, the Spanish Ministry of Industry in ...

Continue reading Spanish Trade Deficit At 13-Year Low

September 23rd, 2011

Further to yesterday's news of record tourists figures in August, results show that 41.5 million overnight stays were recorded in hotels throughout Spain during the same month - a 6.2% increase compared with the same month in 2010. Overnight stays by Spanish residents decreased 1.4%, while foreign stays increased by 12.2%. ...

Continue reading 41.5 Million Hotel Stays in Spain During August

September 23rd, 2011

The number of mortgages issued for Spanish homes dropped in July, official data data released by the National Institute of Statistics (NIE) showed yesterday. There were 29,523 new mortgages and the value of mortgage lending during the month totaled 3.27 billion euros, a 51.8 percent drop over the same time last ...

Continue reading Spanish Mortgages Down in July, Up in August?

September 22nd, 2011

According to the figures contained in the Frontier Tourist Movement Survey (FRONTUR) drafted by the Institute for Tourism Statistics of the Ministry of Industry, Tourism and Trade, the figures for inbound tourists in August exceeded the previous monthly record of 7.63 million tourists in July 2007. 655,000 more inbound tourists visited ...

Continue reading Record Tourist Numbers in August

September 22nd, 2011

Spain's Parliament restored a deficit-reducing wealth tax today in its final session before dissolving to make way for the general election in November. Most opposition parties criticized the tax bill as a desperate electoral maneuver by the beleaguered ruling Socialists, who argue it is only fair to hit the rich harder ...

Continue reading Spanish Parliament Restores Wealth Tax

September 21st, 2011

Barcelona's El Monumental will host its final bullfight on Sunday before a ban on the sport takes effect across Catalonia. The regional legislature banned the centuries old tradition last year after Catalans signed a petition against it. The bullfighting industry is still convinced it has a chance to overturn the ban in ...

Continue reading Bullfighting in Catalonia Comes to an End on Sunday

September 21st, 2011

Spain's economy is expanding slower than expected but the government is battling to boost activity and is not changing its 2011 targets, said Finance Minister Elena Salgado. The economy steadied in 2010 and grew 0.2 percent in the second quarter of 2011, but not enough to make a large difference to ...

Continue reading Spanish Economy Targets “Are Not Changing”