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In 2024, the prospects will improve in all the Autonomous Communities, driven by employment, domestic consumption and, above all, service exports. In 2025, the push will come from the industrial communities and the recovery of the south after the drought, with tourist communities losing momentum.
Andalusia's GDP will grow by 1.5% in 2024 and 2.5% in 2025. This will allow 175 thousand jobs to be created in the two-year period and reduce the unemployment rate to 15.7% in 2025.
GDP growth in 2024 is revised downwards for all peninsular regions. Greater corrections in the northern regions, but they will lead growth in 2024. In 2025, a general acceleration due to the improvement in domestic consumption and European dema…
The GDP of Andalusia will grow by 2.1% in 2023 and 1.8% in 2024. This will allow the creation of 155 thousand jobs in the two-year period and reduce the unemployment rate to 18.3% in 2024.
Without significant changes in the regional growth hierarchy in 2023. In 2024, external demand weakens the progress of activity, with a greater impact on the more open regions.
Upward revision of the Spanish economy in 2023 to 2.4%, to be led by the Balearic Islands, Canary Islands and Madrid. But growth in 2024 is revised by 0.5 pp (to 2.1%), due to the slowdown in the tourism industry, the rise in interest rates, and the delay in the impact of the NGEU funds.
BBVA Research forecasts that Andalusia's GDP will grow by 1.3% in 2023 and recover pre-Pandemic levels. By 2024, the increase in activity will accelerate to 2.4%, and during that year it is expected to be able to recover GDP per capita.
The GDP growth forecast for all the Autonomous Communities increases in 2023, with greater momentum in the industrial and tourist regions. But the forecast for 2024 is reduced: inflation moderates the increase in consumption in the Mediterranea…
The economy is more resilient than expected in 2022. In the first half of the year, due to domestic demand and tourism, and in the fourth quarter, due to exports and employment. In 2023 and 2024, external demand will contribute negatively, but …
Andalusia's GDP increased by 5,9% in 2021. But the war in Ukraine and sanctions reduce growth expectations. Thus, growth is expected to be 4,3% in 2022, but to decelerate in 2023 to 0,9%.
Spain's GDP grew more than anticipated in the first half of 2022. The 2022 revision implies more dynamism in tourism and less in exports of goods and investment in capital goods. The islands remain the main drivers of growth.
Spain's GDP will grow by 4.1% in 2022 (in line with what was forecast three months ago), but private consumption is revised downwards and investment and exports, both goods and tourism services, are revised upwards. On the other hand, growth for 2023 will be lower due to the slower progress in European demand.
