Publications

The Recovery Plan has injected significant funds and appears to be having a certain redistributive impact across regions. However, it faces risks of under-execution, and its completion may reduce investment, alongside persistent doubts regarding its impact on productivity.

Early data suggest the World Cup delivered a smaller-than-expected economic boost in Mexico, concentrated in host cities. Tourism, hotels and consumption show no change in trend. The challenge remains structural: connectivity, promotion, security, infrastructure and business travel.

The total solar eclipse on August 12 boosted spending by foreign tourists in Spain—particularly in provinces where the phenomenon was most visible—suggesting a shift in tourism toward key viewing destinations. In contrast, spending by domestic travelers was not significantly affected.

Building on the analysis initiated in a previous study, the Working Paper describes and assesses the new elements of the Government’s proposal to reform the SFA contained in the draft agreement sent to the Autonomous Communities several weeks ago.

Spain is beginning a new defense investment cycle to reach 2% of GDP amid the geopolitical context. Using Big Data and AI, real-time spending is analyzed, overcoming lags in official sources and confirming a structural increase and widespread modernization in the sector.

Formal employment in Mexico posted a monthly contraction of 0.05% in July. Annual growth slowed to 1.5%, and to 1.0% excluding digital platform workers. This dynamic is attributed to weak investment and low business confidence, despite an acceleration in real wages.

The geopolitical context has driven Spain to enter an expansionary cycle and reach the defense spending target of 2% of GDP in 2025. A structural change aimed at military modernization through major programs is observed, with a central role for the domestic industry and greater European cooperation.