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Catalan Economy Registered a Growth of 3.5% in 2016

Catalan-Economy-Registered-a-Growth-of-3,5- in-2016.jpgCatalonia, a developed region in Spain, registed in 2016 an economic growth of 3.5%. The increase was a direct effect of the activities carried out by the local industries and it is important to know that the Gross Domestic Product (GDP) increase was above the European Union’s average. At the same time, the Catalan economy was also above the Spanish GDP increase, situated at 3.2% in 2016. Businessmen interested in opening a company in Spain can find out more details on the legislation applicable to commercial companies from our team of Spanish lawyers

 

Main drivers for GDP increase in Catalonia  

 
The main driver of development in Catalonia was the industrial sector, which registered the highest level of activities since 2010. Investors who want to register a Spanish company in this sector should know that the industrial field increased by 2.5% in 2016, compared to the situation of 2015. 
 
The best results were registered for the following: 
 
textiles;
clothing;
leather;
footwear;
machinery;
mechanical equipment;
pharmaceutical products. 
 

Employment aspects in Catalonia 

 
Employment in Catalonia also showed moderate increase and in this sense, investors interested in employing Spanish workforce must know that the level of unemployment is decreasing
 
If in 2015, the region registered 71,600 new jobs, at the level of 2016, in the Catalonia region there were created more employment opportunities compared to the previous year. Our team of attorneys in Spain can offer advice on the employment regulations applicable in the region. 
 
The economic increase in Catalonia was also sustained by the private consumption and the investments performed in the region, but also as a direct effect of the increase registered in the tourism industry
 
At the level of 2016, the tourism industry in Catalonia increased by 4% and the accommodation units reported a solid increase for overnight stays (6.9%), which represents a value higher than the average Spanish overnight stays - 5.6%. 
 
Another aspect that should be taken into consideration when investing in Spain refers to the fact that the local authorities will invest in this region EUR 4.2 billion. 
 
Please contact our law firm in Spain for more details on the regulations available in the Catalonian region
 

Comments

  • Hugh 2017-05-03

    The tourism in Spain is thriving and I am sure that it will continue to grow.

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