Mon, 10 Feb 2025

Mon, 10 Feb 2025 How Spain's economy became the envy of Europe

How the Spanish have built one of the strongest economies in the European Union.

* Spain received a record 94 million visitors in 2024, making it a major contributor to the country's economic growth.
* The tourism industry's post-Covid expansion has been a significant factor in Spain's economy outgrowing other European countries, with GDP increasing by 3.2% last year.
* Spain is now vying with France for the title of world's biggest foreign tourist hub and is expected to continue leading growth among major European economies this year.
* The country's balanced economic model, which includes tourism, financial services, technology, and investment, has been praised as a key factor in its success.
* Post-pandemic recovery funds from the EU's Next Generation programme have also contributed to Spain's growth, with the country set to receive up to €163bn by 2026.
* However, challenges are looming on the horizon, including a growing reliance on tourism and a housing crisis that has left millions of Spaniards struggling to find affordable accommodation.
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