Articles tagged as: spanish economy

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

November 4th, 2014

The Spanish economy occupies 33rd position among the 189 countries that make up the 'Doing Business 2015' global ranking, after offering greater ease of doing business, as reflected in the 12th annual report prepared by the World Bank Group, which examines the regulations that enhance or hinder business activity. Last ...

Continue reading Spain Climbs World Bank’s Global ‘Doing Business’ Ranking

October 17th, 2014

The Consumer Price Index (CPI) rose by 0.2% in September compared to August, and increased by three tenths year-on-year, to -0.2%, due to higher prices of electricity, food and non-alcoholic beverages, especially fresh fruits and vegetables, the National Statistics Institute reported on Tuesday, thus confirming the year-on-year data estimates published ...

Continue reading Annual Inflation -0.2% in September

October 13th, 2014

Spanish tourism has enjoyed a good summer, according to Exceltur, the Alliance for Tourism Excellence, who on Thursday shared the Ministry of Industry’s optimism over the sector, following the publication of the foreign tourist arrivals figures, which showed an increase in visitors of 8.8% up to the end of August ...

Continue reading Spanish Tourism GDP Up 2.9% June to September

October 2nd, 2014

The Spanish Government has improved its macroeconomic forecast for Spain and now estimates that GDP will grow by 1.3% this year, instead of the 1.2% previously forecast, and that it will accelerate to 2% in 2015, compared with 1.8% estimated earlier, due to the improvement in both private consumption (+ ...

Continue reading Spanish Government Estimates 622,000 New Jobs by 2015

September 22nd, 2014

In a report released last week, the credit rating agency, Moody's, said that in their opinion, the recent signs of improvement being seen in the Spanish economy will not immediately translate into a sustainable increase in housing prices, but rather in a slowdown in their rapid decline. High unemployment, excess housing ...

Continue reading Improvement in the Economy Will Not Raise House Prices, Says Moody’s