Nearly 15% of Spanish GDP came from Tourism Last Year

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In 2017, 14.9% of Spain’s total GDP came from tourism, some 4.5% above the worldwide average – new figures show. The amount of money pumped into the Spanish economy through tourism rose by 5.7% to €172,900 million in 2017, according to new data published by the World Travel & Tourism Council (WTTC).

Strong Economic Growth Forecast for 2018

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The Spanish economy was one of the fastest growing in the EU last year, a trend that is forecast to continue in 2018. Spanish GDP stood at 0.8% in the third quarter (Q3) of 2017, due to strong private consumption, buoyant equipment investment and positive, but declining contribution of net exports to growth, according to… Read more »

Spanish unemployment levels fall 8.3% in 12 months

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Unemployment levels in Spain have dropped by 8.3% over the past 12 months, despite a small seasonal increase in September, new figures from the Ministry of Employment show. Unemployment levels are known to increase in September, a trend which often occurs following the summer season when seasonal job contracts end. So it will come as… Read more »

Spanish Unemployment Levels Drop 10.7% in June

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The number of people registered as unemployed in Spain fell by almost 100,000 in June to 3,362,811, according to Spain’s Ministry of Employment. Since June 2016 Spanish unemployment levels have fallen by just over 10.7%, representing a drop of 404,000. In the same period unemployment amongst the under 25’s fell by 16.5%.

Spain’s Economy Continues to Grow above EU Average

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The Spanish economy continues to grow faster than its EU counterparts, leading the European Commission to upgrade its forecast for 2017. The upward revision increases Spain’s estimated growth of 2.3%, published in its previous forecast in February, to 2.7%, reports economic publication The Corner.

Upward Revisions Made to Spain’s Economic Forecast

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Confidence and activity has returned to Spain’s economy leading to an upgrade in the country’s 2017 and 2018 economic forecast. In 2016 Spain’s GDP grew by a total of 3.2% and with early indications showing no loss of momentum at the start of the year, leading research departments are making upward revisions to their forecasts.