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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.
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 demand: advantage for national tourism recipients.
The economy of the Valencian Community will grow by 2.1% in 2023 and 1.9% in 2024. This will allow the creation of 96 thousand jobs in the biennium and reduce the unemployment rate to 12.2%.
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, an…
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 Mediterranean regions, and the improvement in Europe will not be enough to compensate for it.
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 NGEU funds and reduced uncertainty will drive the recovery, faster in the north.
The GDP of the Valencian Community grew by 5.8% in 2021. But the war in Ukraine and the sanctions reduce growth expectations. Thus, the Valencian GDP is expected to increase by 4.3% in 2022 and to slow down in 2023, when the increase will be 0.…
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 fo…
GDP growth in Spain is revised downwards in both 2022 and 2023 due to the impact that the invasion of Ukraine, the sanctions imposed on the Russian economy and the increase in prices, especially fuel prices, will have.
GDP in the Valencian Community will grow in 2022 to 5.2%. In 2023, GDP growth could moderate to 5.0%. If the forecasts are met, 168,000 jobs would be created between 2021 and 2023. In the short term, the bias on forecasts may be upwards if a lesser impact of the pandemic on activity is confirmed.
