• Inbound Tourists Spending up 6% Between January and November

    According to the Tourist Expenditure Survey (EGATUR) drafted by the Institute for Tourism Studies of the Ministry of Industry, Energy and Tourism, inbound tourists to Spain spent a total of 52.83 billion euros between January and November 2012. This is …

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  • Home Mortgages Fell 14.4% in October

    According to the latest figures released by the National Statistics Institute, the number of new mortgages on homes in October this year totalled 19,105, which is down 14.4% compared to the same month of 2011. With October’s year-on-year decline, home …

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  • Nationalised Banks to Transfer 36,085 Million Euros of Assets to ‘Bad Bank’

    In a transaction set to take place on 31st December, Spain’s nationalised banks – Bankia, Novagalicia Banco, Catalunya Banc and Banco de Valencia – are to transfer to the asset management company for bank restructuring (Sareb) assets with a total …

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  • Euribor Set to End Year Three Times Lower Than 2011

    The twelve months Euribor, the indicator used to calculate mortgages, is expected to close 2012 at a record low, with an average rate of around 0.550%, the lowest in its ten year history. Although a couple of trading days remain, …

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  • Six in Ten Workers have Less Income than a Year Ago

    According to a study carried out by the Organisation of Consumers and Users (OCU), 63% of Spanish workers and 44% of pensioners received less income this year than in 2011. Workers who are complaining that their wages are lower than …

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  • Spanish Residency Will Attract More Russian Home Buyers

    The Russian ambassador in Madrid, Yuri Korchagin, is convinced that if the Spanish Government provides residence in Spain to home buyers, it will open the way for his countrymen to acquire more properties in the country, which would help reduce …

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  • Spanish Pessimistic Over Economic Situation

    According to the latest Eurobarometer survey published by the European Commission, 98% of Spanish citizens believe that their country’s economic situation is “all bad”, which places Spain among the most pessimistic countries of the European Union, only surpassed by Greece, …

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  • 2012 Marks “Turning Point” in Crisis, Says Van Rompuy

    In a video posted on the official website of the European Council, the Council President, Herman Van Rompuy, said that “2012 marked the turning point” to exit the financial and economic crisis affecting the eurozone. Van Rompuy stated: “We are …

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  • Spain Received Over 55 Million Foreign Tourists to November

    According to the latest data from the survey of tourist border movements (Frontur) released on Friday, Spain received 55.1 million foreign tourists in the first eleven months of the year, which represents an increase of 2.9% over the same period …

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  • Christmas Lights Spending Down 21% This Year

    The average amount town councils have spent on Christmas lighting this year has fallen by 21% compared to 2011, reaching 209,247 euros, ranging from 1.52 million euros in Madrid to 10,000 euros for León. According to a report prepared by …

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  • Rajoy Believes ECB Banking Supervisor Will Facilitate Loans to SMEs

    In his speech last week in the Spanish Parliament to report on the results of the last two European summits, the Prime Minister, Mariano Rajoy, said that the ECB bank supervision is a “guarantee” for the financial system and that …

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  • Foreign Spanish Social Security Contributors Down in November

    The number of foreign citizens contributing to the Spanish Social Security system in November 2012 fell by 38,201. This equates to a drop of 2.24% over the previous month. In year-on-year terms, the number of foreign contributors to the system …

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  • Spanish Tourism Sector Continues to Grow

    Even in the midst of the current crisis, Spanish tourism has continued to exercise its role as a reliable economic engine. The weight of the sector’s activity in Spain, measured by means of final tourist demand, stood at 10.8% of …

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  • Spanish Population has Grown by 14% in 10 years

    Spain’s population now stands at 46,815,916 inhabitants, which is nearly six million more than a decade ago. In other words, the population of Spain has grown by 14.6% since 2001, when the National Statistics Institute carried out the last population …

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  • Rents Rose by 0.4% in November

    The average price of a rental home in Spain rose 0.4% in November compared with the same month last year, according to the latest data from the National Statistics Institute. The rental increase stands 2.5 points below the overall Consumer …

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