Friday, 10 November 2017

Data Shows Spain’s Job Revival is Due to Tourism and Manufacturing

Data Shows Spain’s Job Revival is Due to Tourism and Manufacturing

The next few years looks very bright for Spain
as I continues its recovery 
Figures don’t mean much out of context, which is why the recovering GDP of Spain may sound good, but people could be left cold without understand just what everything means.

As the economists are cheering a projected 3.2% increase in Spanish GDP for 2017, the average Spaniard, along with expats and holidaymakers, are left wondering what it all means for them.

To put things simply, it all means that there are plenty of new opportunities for employment in Spain, which means that consumer spending is up, tax revenue for the government is up, and property prices and supply are also up.

The latest official data, shows that the tourism and manufacturing sectors are the two key pillars supporting the economic success of Spain.

The National Statistics Institute (INE) has revealed 3.9 million people in Spain were out of work at the end of June, a decrease from the 4.25 million from the end of March. In the period between March and June, around 272,400 jobs were created across the tourism industry as the country prepares for the busy summer season.

While most of those jobs are likely to be seasonal, estimates show that around 30% of them could last for longer if the economic recovery continues.

Additional data provided by market analysts ISH Markit show that Spanish manufacturing firms had their highest increase in employment for over 19 years during July – primarily to keep up with demand for Spanish goods including cars.

This all lead to last month being the strongest month for Spanish job creation since way back in May 1998, according to the Financial Times.

To add to this, data from the Bank of Spain has shown that the average net wealth of the Spanish family is increasing by around 6.9% per year, which means not only is the average Spaniard more secure in their job with more spending money, but also it means average personal debt levels are dropping.

No matter how you look at it, the Spanish economy is no doubt going through some encouraging times, which is encouraging for the people of Spain.

Thursday, 9 November 2017

Spanish Mortgage Approvals Up 19.2% in June

Spanish Mortgage Approvals Up 19.2% in June

The data continues to be good for the Spanish property market

Official notary data for June in Spain has shown that the rate of mortgage approvals for residential property increased at the highest rate in a decade. 

The statistics show that the 23,223 mortgages granted across Spain in June of this year was 19.2% higher than in June of last year. The figure means that almost half – 45% - of the properties purchased in June were financed through mortgages. 

An overall total of 51,477 homes were registered as bought in Spain in June – an increase of 17.4% over June of last year, and the second-sharpest monthly increase since back in 2007. The only month in the decade since then that topped the sales from June was December 2012, when property transactions were inflated for that month ahead of new rules for income tax to be introduced in January 2013. 

The remarkable sales figures from June are another marker of the strengthening real estate sector of Spain, which has been boosted by sustained demand from domestic and foreign buyers alike, along with the increased generosity and less strict nature of lending criteria from Spanish banks and the increasing prices across almost every region in the country. 

The notary data showed there was a 1.4% price increase in June of this year compared to last year, with the average square metre of property selling at €1,358. The average size of mortgages reflected this increase in house prices, as the average mortgage has increased 6% to €129,704 with data revealing that mortgages accounted for an average of 76% of the total purchase price of houses bought via mortgages. 

The market for new builds is also on the increase, with sales of new properties rising 10.8% in June compared to June of last year.

Monday, 6 November 2017

A Tale of the Generous Boss and What Make Marbella a “Treat” Destination

A Tale of the Generous Boss and What Make Marbella a “Treat” Destination

Marbella is the best place to come in Andalucia 

If you were to run a Google search for “Marbella” this week you would be inundated with pictures of happy employees from the travel and party firm Red7, who were treated by their employer to an all-expenses paid staff holiday to sunny Marbella as a reward for all their hard work.

The story has become such a hit with leading tabloids because it has everything an online story needs to be easily digested: There’s the Costa del Sol and Marbella; there’s pretty girls in bikinis; there’s the sunny backdrop; and there’s more than enough to make everyone reading it jealous.

The managing director of Red7 Ian Lucas must no doubt be enjoying all the free publicity. It also reflects well on him as the owner of a specialist in partying and travelling. It’s clear the man knows how to choose a good location, a good time, good reasons, and a good vacation length to reap plenty of excellent PR.

There’s a larger story working itself out here outside of the generous boss doing a generous thing. That is the question of what makes Marbella the destination of choice for these kinds of work-based rewards.

Now we do understand that most British firms will just spring for a hundred quid or so at a local Wetherspoons when they decide to treat their staff, but there is still the curious trend – mostly found in London recruitments, sales, and marketing companies – that looks at Marbella as being the carrot on a stick at the end of the year, the reward for hitting targets, the dream of summer that can be realised when the staff go above and beyond to boost business and make money.

There’s no denying it’s a smart strategy; work out a target that allows for a Marbella trip while still keeping the company firmly in the black. Even if it doesn’t go as planned, profits and staff motivation are still on the up.

Marbella is the perfect choice of destination for something like this. It’s close – which allows for a few days stay; unlike the Caribbean which – while appealing visually – is not worth the cost in terms of productivity and financial cost. Marbella has a reputation for being glamorous, which sure to motivate staff to see and enjoy it for themselves. The on-the-ground costs of staying in Marbella are cheaper than most people realise, and it offers a wealth of variety. Companies can hire their own yachts, nightclubs, beach bars and restaurants, or they could just stick their staff in a hotel room and leave them to their own devices until it’s time to go home.

As great as Benidorm, Barcelona, Tenerife and Ibiza are, they have either too little going on or too much (particularly Barcelona) to make them a viable destination for work reward programs. On the other hand, Marbella offers the complete package and has an undeniable level of prestige that make it stand out.

If you’re out on the beach and you happen to see some office workers packing away the cocktails, you should cut them some slack. They’ve likely worked long and hard to get there!