Spain | La Rioja Economic Outlook 2025

Summary

In 2024, La Rioja's GDP could have grown by 3.3%, and is expected to increase by 2.5% in 2025 and 1.4% in 2026. Going forward, the evolution of activity will be marked by high uncertainty regarding economic and tariff policies and the slow recovery in Europe.

Key points

• Key points:
• La Rioja's GDP is growing steadily, ahead of the rest of the eurozone. Employment continues to be more dynamic in Logroño than outside the capital's surroundings. This is consistent with a growth model based on the growth of services, both public and private.
• Among the factors that will support growth will be the fall in oil and gas prices; the more expansionary tone of economic policy in Europe; and a greater capacity for growth in the services sector (due to immigration and increases in hourly productivity).
• Rising tariffs and uncertainty will affect trade flows and investment. An aggregate impact similar to that experienced by the Spanish economy as a whole is expected.
• Bottlenecks are perceived, such as the lack of responsiveness of private investment to the recovery, the high level of household savings, and the shortage of affordable housing.
• By the end of 2026, GDP per capita could be 7.8 percentage points above 2019 levels (Spain's 4.5 percentage points). If these forecasts come to fruition, the unemployment rate could fall to an average of 9.1% in 2026, and 5,700 new jobs could be created between 2025 and 2026.

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