Cantabria's GDP grew by 5,3% in 2021. But the war in Ukraine and sanctions reduce growth expectations. Thus, Cantabrian GDP is expected to increase by 3,3% in 2022 and to slow down in 2023, when the increase will be 0,7%.
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Activity data reflect a negative balance for the last few months and, although inflation may have reached a turning point, this context of weak activity and rising prices poses a huge challenge for public policies.
In order to analyze national tourism flows in Spain and identify possible patterns and changes in preferences due to the pandemic, gravity models have been estimated using data on card spending by BBVA customers outside their usual province of …
According to BBVA credit card spending data, between May and August of 2022 tourist spending by Spaniards outside their usual province of residence was 23 pp above the 2019 records (15 pp more than between January and Abril).
Industry is holding firm, investment is rising and the summer promises record growth in Spain, all of which has delayed the expected fall in GDP — at least until the end of September. Nonetheless, a number of factors continue to stoke fears o…
While the Mexican Caribbean tourism sector shows an accelerated recovery from the drop in economic activity in 2020, returning to pre-pandemic levels of activity. Significant magnitudes of sargassum arrivals are forecast in the coming months, due to the estimate of sargassum biomass in June 2022.
Catalonia's GDP grew by 5.2% in 2021. The sanctions imposed on Russia and the increase in fuel prices reduce growth expectations. Still, Catalan GDP could increase by 4.2% in 2022 and 3.5% in 2023, placing Catalonia among the most dynamic regions in the biennium.
The GDP of the Balearic Islands would have grown by 10.5% in 2021. The sanctions imposed on Russia and the increase in fuel prices reduce growth expectations. Even so, Balearic GDP could increase by 7.1% in 2022 and 5.0% in 2023, making the Bal…
Tourist spending by Spaniards outside their usual province of residence remained 6 pp below 2019 levels in the first three months of 2022. The effect of Easter pushed up consumption in mid-April and the latest data from the May bank holiday poi…
The potential effects of the war between Russia and Ukraine on Spain's autonomous communities are not uniform — the impact could be worse on the northern regions and less severe on the Levante coast and the islands.
The Canary Islands' GDP could grow by 9.6% in 2022 and 5.7% in 2023. The control of the pandemic, the use of savings saved by Canarian families, the boost in the execution of European funds (NGEU) and unused productive capacity will favour recovery. Ukraine's invasion will have a negative effect.
The recovery of the Spanish economy continued in the fourth quarter, with quarterly GDP growth of 2%. This was higher than for the Eurozone (0.3%), but lower than the previous quarter (2.6%) and lower than BBVA Research's own forecast (2.4%).