Spaniards Return Home for Property and
Jobs
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The Spanish revival continues with spain being
the best place to live in Europe
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The reason for the boost is three-fold; an increase in new
births, a rise in expats and immigration and – perhaps most significantly –
Spaniards returning home after leaving during the tough years of the recession,
coming back to enjoy the strengthening Spanish economy.
The increase in new births is a clear signal that the youth
of Spain are becoming more confident in their own financial situations, while
it’s expected that immigration will rise as the economy grows.
But the biggest impact is coming from the amount of
Spaniards returning home. IT’s estimated that over 50,000 Spaniards came back to the country between the first of January in 2016 and 2017. With them comes
plenty of positives for the property and job markets of the country.
In the 12 months between the start of 2016 and 2017 for
example, the population of the country grew by 89,000. However, there were
375,000 new jobs created in this time period, meaning that with 18.8 million
people working in Spain the figuree is the highest it’s been in seven years.
Another important fact is that the employment boom is being
seen in more stable industries than before – in the times when the credit
bubble burst and destroyed the economy. The increase in jobs across 2017 is
being seen in several industries including agriculture, construction, and
hospitality. There has also been an increase in the demand for skilled workers.
Changes in Spanish population have typically correlated with
changes to GDP since 2008, when both figures plummeted before rising a little
in 2010 and sinking again in 2013. The GDP has risen steadily since then, even
if the population figures took a little longer to catch up.
The trend is clear for now however; thousands of the young
Spaniards who left Spain to make their lives in the UK, Germany, and across
Scandinavia are returning home – better for their time away, with more
financial stability and an eagerness to contribute to the continued recovery of
the Spanish economy.
Javier Díaz Giménez, professor of economics at IESE Business
School in Madrid believes that the economy is growing strongly and is much more
balanced than it was back in 2007. The labour market by be evolving all the
time, but there is no doubt that plenty of jobs are being created across the
board.
The return of confident and willing workers is being felt in
more than just the job market. The Spanish property market has also been
expanding in an encouraging manner for the past three years now, complete with
a noticeable increase in domestic buyers across the past 18 months.
