The Spanish economy
marked surprisingly positive economic prospects, as the forecasts for 2017 may be exceeded. At the level of 2016, the Spanish economy
was situated at 3.3% Gross Domestic Product (GDP) growth, providing better performance results compared to 2015. The forecasts for 2017 are showing a growth of 2.5%, but the Spanish government
considers that such estimates can be exceeded. Another important aspect is that the economic crisis that once hit Spain
no longer produces effects in the economy. Those who want to start a company can have several prospects, especially in the tourism field and our team of lawyers Spain
can offer advice in this sense.
Positive aspects related to the Spanish economy
The economic growth in Spain is a consequence of several important factors. Amongst them, we mention the inflation level, which was kept at a low value.
This had a positive effect on the local economy, as it helped the Spanish GDP to grow.
Investors who want to open a company in Spain
should know that the local market provides numerous business opportunities, as the it is competitive, which can also be seen in the country’s state deficit. Our team of attorneys in Spain
can offer more details on this subject.
If, at the level of 2011, the country’s deficit was estimated at 9%, the estimates for 2017 show a much lower value - only 3.1%.
Another important aspect is related to the level of foreign direct investments
, which helped the local economy, especially in terms of employment
, which is still a sensible subject. However, the local government is applying various strategies to reduce the unemployment level
Important economic fields in Spain
Persons who are taking into consideration to invest on the Spanish market
can find several economic fields that may offer competitive advantages.
For example, in 2016, the Spanish exports
increased and this trend was also noticed for the tourism industry that had a record value in terms of profits and in the number of incoming tourists
, as more than 70 million visitors
have chosen Spain
as their traveling destination
Foreign visitors chose the following locations as their traveling destination:
• Canary Islands;