Articles tagged as: spanish economy

June 19th, 2015

It is well known that Spain is one of the top destinations for summer holidays. However, according to an analysis carried out by the online travel agency, Rumbo, Spain is not only a preferred choice for foreigners, but also for the Spanish themselves. In fact, the agency reported that the ...

Continue reading Spain, More Than a Sun and Beach Destination

June 17th, 2015

Following on from the case when hotels and tourism businesses in the Majorcan tourist town destination of Magaluf recently asked their City Council to step in and help after noticing a decline in occupancy rates and revenues this year, which resulted in a bill being approved which penalises the consumption ...

Continue reading Valencian Hotels Approve Their Own ‘Anti-Magaluf’ Clause

May 26th, 2015

The Spanish Government’s Council of Ministers last week approved a Royal Decree renewing the Efficient Vehicle Incentive Programme, PIVE 8 Plan, following the success of the previous versions of the plan, and the resulting positive effect on the Spanish economy and the environment. The new plan, which is the last ...

Continue reading Spanish Government Approves New PIVE Plan

April 24th, 2015

Spain closed the first quarter of the year with a record turnover of 10.6 million foreign tourists, which represents an increase of 5.3% over the same period in 2014, according to the latest Frontur tourist border movements survey data, published this week by the Ministry of Industry, Energy and Tourism. The ...

Continue reading Spain Received Record 10.6 Million International Tourists in Q1

February 11th, 2015

Over the next five years the volume of people employed in the Spanish real estate sector will increase, in relation to the working population, to account for around 10% of the total, according to a recent survey carried out by the consulting firm KPMG. This rate is three points higher than ...

Continue reading Real Estate Sector Will Employ 10% of the Active Population by 2020

January 30th, 2015

In 2014, for the second consecutive year, Spain beat their best historical record for international tourist spending, reaching 63,094 million euros, an increase of 6.5% over the figure for 2013, which was also a record year. While presenting the data from the Egatur tourism expenditure survey this week at the Spain ...

Continue reading International Tourists Again Register Record Spending in 2014

January 21st, 2015

In their January report, the Alliance for Tourism Excellence (Exceltur) estimated that the activity of the Spanish tourism sector increased by 2.9% in 2014, and generated 53,200 jobs. The Executive Vice President of the organisation, José Luis Zoreda, stressed during a press conference, that the data shows that "in 2014 Spanish ...

Continue reading Spanish Tourism Sector Grew by 2.9% in 2014

January 19th, 2015

Repsol has decided to abandon their controversial exploration of hydrocarbons in the Canary Islands after finding that the discovery of gas there (from methane to hexane) is insufficient in quantity and quality in order to merit extraction.  The company said in a news release that "the analysis of the sample ...

Continue reading Repsol Abandons Canary Islands Project

January 8th, 2015

The Spanish economy is beginning to bear the brunt of the sharp depreciation of the rouble, with tourism, bilateral trade and certain other sectors such as real estate, feeling the affect of the economic crisis Russia is currently suffering. Although less than in other European countries, the reduction of bilateral relations ...

Continue reading Spanish Trade, Tourism and Housing Missing the Roubles

December 31st, 2014

Attending the last Council of Ministers meeting of 2014, the Spanish Prime Minister, Mariano Rajoy, reiterated that 2014 has been a year of recovery for the country and that the Spanish economy is forecast to take-off in 2015. He also highlighted that the tax reform that comes into force on ...

Continue reading “Spain has Overcome the Worst of the Crisis”, says Rajoy

December 29th, 2014

According to the December barometer prepared by the National Federation of Self Employed Workers (ATA), two out of every three self-employed workers, specifically 66.4%, believe that the economic situation in Spain has improved this year and that it will continue to improve into 2015, which will be the year of ...

Continue reading Self-Employed Workers Confident Economic Situation Will Improve in 2015

December 15th, 2014

The Foundation of Savings Banks (Funcas) has raised its economic forecasts for Spain, for both this year and next. The lowering of interest rates following additional stimulation measures adopted by the European Central Bank, the steep drop in fuel prices and the reduction of personal income tax, are some of ...

Continue reading Funcas Estimates Growth for Spanish Economy of 2.4% in 2015

November 18th, 2014

According to a report carried out by independent financial advisors, Arcano, entitled 'The Case for Spain III: Plus Ultra', the real estate sector and construction will be the engines of economic growth in Spain in 2015, as well as company and household financing. The fall in fuel prices could also boost ...

Continue reading Real Estate and Construction Will Boost Spain’s Economic Growth in 2015

November 10th, 2014

According to the IMIE Local Markets House Price Index for the third quarter of 2014, published last week by property appraisers, Tinsa, the average price of housing in Spain fell by 4.3% in the third quarter, compared to the same period in 2013, accumulating a decline of 40.3% since the ...

Continue reading House Prices Fell by 4.3% Y-o-Y in Q3

November 6th, 2014

The Bank of Spain’s latest Financial Stability Report, the institution’s six-monthly publication which analyses the evolution of the risk, solvency and profitability of deposit institutions, finds that the adjustment in the Spanish property market is nearing its completion, and even corroborates some other organisations' statistics, which are already pointing to ...

Continue reading Bank of Spain Notes ‘Timid Spikes’ in Housing Prices