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After deep austerity measures and major reforms, Spain exited the deep and long recession in 2013 and its economy began growing once again but despite the expansion of the number of jobs, the unemployment rate still stood at the historically high level of 22.6% as late as April 2015. [35]
However, Spain has also seen the largest growth in tourism since 2011 and 2012. Its geographic advantages, the Arab Spring, and other non-economic factors are contributing to its resurgence as a tourist destination. While Spain's economy itself is not doing well, purchasing power parity is generally rising again. Furthermore, violent unrest in ...
The 2022 Startup Law has provided a more favorable legal and financial framework for creating and scaling emerging companies in Spain.
The economy of Spain is a highly developed social market economy. [32] It is the world's 14th largest by nominal GDP and the sixth-largest in Europe.Spain is a member of the European Union and the eurozone, as well as the Organization for Economic Co-operation and Development and the World Trade Organization.
(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.Most Read from BloombergRockstar Games Cleaned Up Its Frat-Boy Culture — and Grand ...
The president of the Chambers regretted that the Spanish financial system did not admit the impact of the crisis on their assets; the Bank of Spain affirmed that it was the responsibility of the whole financial sector: "In Spain, it was never wanted to recognize that the financial system was not in good shape, as this would have forced the ...
For 2021, Calvino forecast GDP growth of 7.2%, from a previous estimate of 6.8%. Spain's economy set for worse 2020 than feared, but to rebound next year Skip to main content
The 142 m Torre de Madrid, built in 1957, heralded the "Spanish Miracle".. The Spanish miracle (Spanish: el milagro español) refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime, 1959 to 1974, [1] in which GDP averaged a 6.5 percent growth rate per year, [2] and was itself part of a ...