This year’s 3rd Quarter “Europe Outlook” report, prepared by the BBVA bank’s research department, has announced that Spanish economic growth has been much higher than expected and it says that the economy will continue to accelerate in the second half of this year, supported by domestic consumption. This means that by the end of 2015, there is expected to be a 3.2% growth in GDP, which is more than double that predicted for both Germany and indeed the whole Eurozone, at 1.5%.
Along with the improvements in the Spanish economy, comes improved job prospects, with an expected 1 million jobs being created within the next 18 months, many of which will be in the construction and service sectors. These areas have seen great growth in recent months and are continuing to go from strength to strength as interest and demand increases in both the vacation and residential sectors.
The 2015 tourist season has clearly been one, if not the best on record, with almost 100% occupancy in most of the major holiday resorts and regional airports reporting their predictions have been blown out of the water, with record business being done. in fact, Alicante airport is expecting to have over 10 million passengers pass through it’s gates this year, a huge increase on last year, which was also a record year.
Many factors have helped in achieving these figures, including Spain’s position as a safe destination, with resorts to suit all tastes and ages, as well as the increase in residential tourism. This latter point has been driven by the diversity in the markets who see Spain as an attractive option when buying a business abroad.
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