Regional Analysis Spain
Regional Analysis Spain latest publications
In this Watch we estimate admissions and exits in the Spanish health system during COVID-19, and variations in the number of patients in hospitals, which reached its maximum on March 25. Now exits are close to exceeding admissions. At the end of the crisis, having good data will be crucial.
We are faced with a pandemic whose economic impact will likely cause the biggest drop in global GDP since the end of the Second World War. The uncertainties are enormous.
Labour records from March confirm that the confinement has a remarkable effect. Average Social Security enrolment decreased by 302,600 people (-0.5% YoY) and unemployment rose by 302,300 (9.3% YoY). Seasonally adjusted, the fall in employment was 424,000 people and the increase in unemployment was 338,000.
In this Economic Watch we present different growth scenarios for the Spanish economy in 2020 under diverse assumptions and hypotheses, and evaluate the potential effects of the economic policy measures recently adopted by the Spanish government to mitigate the economic consequences of COVID-19.
Between 2013 and 2018, the disparities in GDP per capita between the Autonomous Communities have barely reduced. This is unusual given that regional convergence in Spain has always appeared to be cyclical in nature.
In recent years, there have been warnings about the outbreak of a new international crisis. But the cause of the global crisis is the unknown risk that nobody expected: the COVID-19 pandemic.
For once, what is urgent has become important. The coronavirus crisis is taking priority over everything in the short run and its consequences could be difficult, particularly for the tourism industry.
BBVA Research has analyzed developments in the Valencian tourism sector for a number of years, and seen the important changes that it has undergone. The sector generates around EUR 16 billion per year (15% of regional GDP) and is responsible for 290,000 jobs (15% of total employment).