IMF Predicts Greater Economic Improvement for Spain in 2017

Spain has to be the best place to live in the EU and has so much 

going for it.

The International Monetary Fund (IMF) upgraded the economic outlook for Spain this week based on the explosion of the tourism sector, strong export market, and growing demand from domestic consumers.

The Spanish economy is now expected to grow by 3.1% according to the IMF. It’s last forecast from April suggested the Spanish economy would grow by 2.6% in 2017.

The upgrade means that Spain is one of the leaders of the EU when it comes to economic success and growing GDP. The IMF added that it was impossible to rule out the idea that Spain might be upgraded again later in the year, especially if more records are broken in the tourism sector this year.

It’s more than just the perpetual attraction of the country for holidaymakers that is boosting the Spanish economy. The IMF were also keen to praise how the government’s reforms in the economy and labour market created momentum, stressing the growing consumer confidence and demand. Altogether, it could create a virtuous circle where money is spent, jobs are created, and the economy expands.

While the government should be trying harder to tackle the problems of youth unemployment and wage suppression, the performance of the Spanish export sector shows the quality of the standards and the competitive nature of Spanish industry according to the IMF.

Spanish GDP rose by 3.2% last year, with growth of over 2.5% in 2015. When it comes to 2018, economists believe that the Spanish economy will continue to grow, especially as the construction and property sectors continue to grow and offer their support.

Amount of Pension-Age Brits Living in Spain Doubles Across Past Decade

Amount of Pension-Age Brits Living in Spain Doubles Across Past Decade

Living in Spain has become so easy all the pensioners just 

love the lifestyle

A recent study from the Office for National Statistics (ONS) in the UK and the Instituto Nacional de Estadistica (INE) in Spain has revealed that the number of Brits aged 65 and over and living in Spain has increased bymore than double in the past decade. 

The report from the ONS/INE showed that over 121,000 Brits of a pensionable age are living in Spain – which is around 40% of the entire British community of Spain. 

Some 108,433 of these 121,000 Brits are believed to receive a state pension in Spain, according to the Department for Work and Pensions. 

Even though the number of British pensioners has more than doubled since 2007, the number tends to slowly rise each year. There hasn’t been a year that saw a sudden spike in numbers. It’s much more likely that the reason for the increase is just a matter of ageing. Brits have been living in Spain so long that they are reaching pensionable age. 

According to the official data from the ONS/INE, there were 296,000 British citizens who had spent more than 12 months living in Spain by the end of 2016. This is more than double the 116,000 Spaniards living in the UK between 2013 and 2015. 

The official figures for the amount of Brits in Spain are quite below the expected 1 million+ Brits actually living in Spain. The higher estimate comes from a report from the UN in 2015 that suggests over two-thirds of Brits are not officially registered at their local town hall in Spain. 

However, even if you use the lower official figure, there are plenty more Brits living in Spain than there are in other foreign countries. The second and third most popular countries are France and Ireland. 

When it comes to Spaniards living in Britain, the data showed 59% of them were employed in the UK, while 78% of them were working in the education, finance, health, and hospitality industries.

Spain continues is recovery and smashes all records yet again.

May Sees 9-Year High in Spanish Home Sales

The recovery of the Spanish property market has carried over to the summer, as the latest official data from the National Statistics Institute shows home sales reached a nine-year high in the month of May.

It was the summer of 2008 nine years ago; back when people began to notice the signs of an impending financial crisis. Even so, the moods were still high, if a little lower than during the summer of 2007.

Since then however, the property sector has been ravaged by a Spanish double-dip recession, an EU crisis, and a global credit crunch. It took a long time for recovery to begin, with things only looking up in 2013.

Despite the delay, the past 18 months have been very positive overall, and the latest data from the INE is the best seen for some time.

The official figures show that 44,782 homes were registered as sold in May this year; the highest monthly figure seen since back in September 2008, and a whopping increase on May from last year of 22.9%.

This is hardly an isolated incident either. When combined, the first five months saw a total of 191,537 properties change hands in Spain; an 11.8% increase on the first five months of 2016.

To offer a larger view, data from the INE also shows that, for the 12 months leading to the end of May 2017, home sales transactions were around 425,000; an incredibly encouraging 11.9% annual increase.

There are always regional imbalances when it comes to the number of transactions, but the data showed that sales were up in 16 out of 17 of the Spanish autonomous regions over last year. The Balearics and Castille-La Mancha in particular had strong sales; with increases of over 35%.

Other recent data from the INE shows that property pricesincreased by an average of 5.3% nationwide.

Going for Gold in Malaga

Going for Gold in Malaga

The games were fantastic for all that came to watch

Malaga played host to the 21^st edition of the World Transplant Games this year, putting it firmly in the spotlight. 2,300 athletes from across 50+ countries competed in the city in 17 sporting events held across 11 venues across the capital city of the Costa del Sol. 

The games are organised by the World Transplant Games Federation and recognised by the International Olympic Committee. The Malaga games mark the first time ever that the games have taken place in Spain. It’s very fitting that the games were held in Malaga. Spain is recognised as being the world leader of transplants – with some 4,818 transplant operations performed last year – and Andalucia had more organ donors in 2016 than the national average of the country. Andalucia has 47.1 donors per million people. The famous Carlos Haya regional Hospital of Malaga performed the most kidney transplants in Spain last year, with 173. 

There are even more milestones for the latest Transplant Games including that this year’s games are the first time that organ donors and their families will be competing against athletes that have received organ donations; with ages ranging between just four years old to eighty. All of these athletes have had a life-saving transplant operation.

The Transplant Games cover a range of sporting events including cycling, track and field, swimming, golf, tennis, and more. This year saw the introduction of kayaking and padel tennis as events. 

The games are held once every two years, with the first ever edition of the Transplant Games was held in 1978 in Portsmouth in the UK. 99 athletes from across France, Greece, Germany, the US and the UK gathered for the event.

Brits Grabbing Spanish Package Holidays in Record Numbers

Brits Grabbing Spanish Package Holidays in Record Numbers

With the fantastic climate and wonderful Mediterranean cuisine

its no wonder more and more Brits are coming to Spain. 

One of the main summer staples of Brits is the idea of the complete package holiday. They offer a well-priced week or two in the sun for the whole family to enjoy. They’re also hassle free as travel, dining, and leisure is taken care of in advance. 

Spain has been the primary destination for Brits booking holidays across the past few decades. Even so, there have been a few times it looked like the country might have been about to lose their package holiday crown.

Cheaper alternatives emerged, such as Tunisia, Turkey and Bulgaria; placing heavy pressure on the Spanish resorts. Then came Greece, Italy, and Portugal; that offered something new and exciting for Brits to enjoy by virtue of being “not Spain”. 

This period of uncertainty was not to last however. Europe and the Mediterranean alike were hit by the global credit crunch. Even though Spain had a harder time recovering than other countries, the tourism industry wasn’t nearly as badly damaged.

As prices fell across Europe following a period of employment uncertainty and job losses, cash-strapped Brits stayed starved for some sun and fun, and they continued to prove their loyalty to the Costas. Spanish tourism remained strong between 2008 and 2013 – and even increased dramatically during 2014.

After a record-breaking 2016 Spain is ready and willing to welcome even more tourists during 2017. This is partly down to the unfortunate death of Egyptian and Tunisian reports as a result of security threats and terrorism – but a good majority of it is down to the excellent weather of the country, along with the affordability, accessibility, and high quality of the resorts in the country. 

British holidaymakers have always been fans of this combination, which would explain why the number of package holidays in Spain booked as of June 24 is already 270,000 higher than for the same point last year; at least according to the data from Gfk Leisure Travel Monitor. 

The statistic represents a growth of almost double that seen in Greece; the second-most popular package holiday choice for Brits. It also puts Spain well ahead of other favourite destinations including Croatia, the Caribbean, Cyprus, and Portugal.

The data also showed that holiday bookings for the USA, Egypt, and Turkey have fallen compared to this time last year. America can put this down to the Trump Effect, while Turkey and Egypt can put it down to terrorism concerns.

Spanish King Spoke to UK Parliament

Add caption

Spanish King Spoke to UK Parliament  

The king and queen of Spain headed to the UK in July and spent three-days in the country on a Royal excursion. The royal couple visited Buckingham Palace, had dinner at Clarence House, enjoyed a business workshop in London, and took a trip to the House of Commons, where King Felipe addressed Parliament. 

The royal visit is the first one of its kind in around 30 years, and comes when the UK and Spain are managing to maintain their good relationship despite the issue of the Brexit. The royal visit has been rescheduled twice because of internal political reasons. 

King Felipe and Queen Letizia  arrived in the country on July 11^th where they will proceeded directly to 10 Downing Street and enjoyed dinner with British Prime Minister Theresa May. 

Everything will officially begin when the royal couple meet the British royal couple – Queen Elizabeth and the Duke of Edinburgh – at Horse Guards Parade. 

It’s expected that there will be a message to Spanish companies and nationals in the UK to reassure them over Brexit and let them know they are still welcome – an issue that King Felipe himself is expected to bring up when he addresses the House of Commons. 

The Spanish royals met much more than just the Queen and Prime Minister; as the entire royal family was present at a gala dinner held on July 12 at Buckingham Palace. 

It seems that the royal family gathering like this to welcome a visiting foreign dignitary is a rare occasion, and Spanish diplomats are said to be delighted at how warmly the British royals are welcoming their Spanish counterparts. 

Prince Charles accompanied King Felipe on a visit to the city, where they attended a meeting of Spanish and British business leaders, before heading to Westminster Abbey where they pay ed homage to recent terror attack victims. 

A visit to Oxford for some academic meetings and presentations will round off the trip. Reports suggest that people on both sides are responding positively to how much respect and warmth is being shown by the royal families of both countries.

Spanish Government Plans to Create 20,000 Public Sector Jobs Across Next Two Years

Spanish Government Plans to Create 20,000 Public Sector Jobs Across Next Two Years 

creating more jobs can only be good for everyone 

The Spanish government has pledged to create 20,000 additional public sector jobs leading up to 2019. The move is part of an effort to provide the official authorities and services of the country with more support. 

The El Mundo newspaper is reporting that 7,000 of these jobs will be for general state administrations, along with another 3,360 positions opening for the judiciary.

4,000 jobs will go to the Spanish civil service, social security, and tax authority institutions as Madrid is looking to boost the ability of the government in key areas. 

It’s expected that many of these prospective roles will be announced – and potentially filled – by the end of the year. If this is the case, it would be one of the most powerful recruitment drives ever by a Spanish government. The vice president of CSI-F – the majority union in the Central State Administration – spoke to El Pais; saying that the plan looks to ensure the viability of the administration which has seen young staff decimated in the past six years. 

The official data shows that only 1,388 of the 190,858 public sector workers in Spain are under 30 years old. This statistic shows not only how public sector roles have been the domain of the old and connected Spaniard, but also the need for a fresh young mindset and new ideas. 

This doesn’t help that absolutely zero public sector roles have been created in the country since 2010. Spain has been dealing with austerity since 2010, but the current economy is holding strong and prospects are good, giving the government the freedom to bolster the public sector while they can.