Spain: fastest grower in EU

Bungalows in Maryvilla, close to Alicante

Spain keeps beating its European counterparts in term of economic performance. This year and next it will show Europe's fastest growing economy, according to a study by PriceWaterHouseCoopers, the accountancy firm.

For 2003 a 2% GDP growth is expected, next year this growth is expected to accelerate to 2,75%. With the average European growth forecasted at a meagre 1%, expect Spanish companies to flourish. Retail, industry and tourism are strong sectors, and especially property and related construction stay in high demand.

An increasing number of (Northern) European companies is looking to set up shop in Spain. The goal is to take advantage of the growing purchasing power of consumers, as well as the quick pace of innovation and service improvements that generate a large number of business opportunities.

At the same time Northern European citizens keep their interest in a second residency in Spain (Costa Brava, Costa del Sol, Costa Blanca) to take advantage of the mild climate, very good health care services and relaxed Mediterranean life-style. Housing prices are still relatively low compared to many European countries and a number of incentives and tax breaks exist for non-Spanish residents.

Interested in doing business or living in Spain?
Transfer Consultancy will be pleased to assist you. With over 7 years of experience we know what it takes to do successful business in Spain!
Please contact mr Sven Kallen at our office in Barcelona.