China and the stockpiling of commodities: strategy or growth? Financial markets Beatriz Villafranca Serrano February 13th, 2025
New forecasts for the Spanish real estate sector: the expansionary cycle takes hold in 2025 Spanish economy Judit Montoriol Garriga February 13th, 2025
Employment stability improves in Spain Spanish economy Nuria Bustamante Sergio Díaz February 14th, 2025
Financial Markets Daily Report 14 February 2025 In yesterday's session, markets reacted positively to signs US reciprocal tariffs on its trade partners may be weeks from coming into effect, raising the prospect for negotiations that could make them less punitive. Tourism The tourism sector once again breaks records and consolidates its role as a driver of growth In 2024, tourism GDP experienced another year of significant growth, with an estimated increase of 6% in real terms, roughly doubling that of the economy as a whole. This performance was driven by a sharp rise in the number of foreign tourists and their average spending,… Pedro Álvarez Ondina 05 February 2025 Tourism What do the elasticities of international tourism demand tell us about the growth of the tourism sector in Spain? The key to the sustained increase in international tourist arrivals is the high sensitivity of demand to income growth in the source countries and a relatively moderate increase in domestic prices relative to the bigger increases occurring in competing destinations. David Cesar Heymann 05 February 2025 Tourism What factors have contributed to the reduced seasonality of tourist spending in Spain? Although the summer months continue to account for a large part of tourist flows, travel outside the high season is growing more rapidly, especially among Europeans and among Spaniards with medium and high income levels. David Cesar Heymann Eduard Alcobé Garcia 05 February 2025 Tourism The catering sector in Spain in 2024: what the data from millions of card payment transactions reveal Based on an anonymised analysis of internal CaixaBank data, we perform an in-depth study of recent patterns in spending on catering in Spain. Pedro Álvarez Ondina Eduard Alcobé Garcia 05 February 2025 European Union The new EU economic governance framework David Martínez Turégano Rita Sánchez Soliva 17 January 2025 Geopolitics Exposure of the European economy to a US tariff hike: a perspective through values chains David Martínez Turégano 17 January 2025 Geopolitics Exposure of the European economy to a US tariff hike David Martínez Turégano 17 December 2024 Geopolitics Exposure of the Chinese economy to a US tariff hike Luís Pinheiro de Matos 13 December 2024 Geopolitics The importance of the trade in goods between Spain and the United States Sergio Díaz 17 December 2024 Geopolitics Impact of tariff hikes on Spanish exports to the US: which sectors could be the hardest hit? Judit Montoriol Garriga Anna Bahí Esteba 13 December 2024 Publications Sectorial ReportTourism. The Spanish tourism sector: no signs of cyclical exhaustion S1 2025 Monthly ReportJanuary 2025 | No. 49617 January 2025 Sectorial ReportSectoral Observatory S2 2024 Sectorial ReportAgrifood. Spain’s agrifood sector enjoys a revival 2024 SpainSpain’s Macroeconomic & Financial Outlook11 February 2025 PortugalPortugal’s Macroeconomic & Financial Outlook11 February 2025 Sectorial ReportReal Estate. Strong demand and short supply shape the sector S2 2024 Sectorial ReportManufacturing Industry 2023 Opinion Editorial Trump agenda: a question of balance José Ramón Díez Head of International Economics & Markets Key points of the month Volatility in times of uncertainty José Ramón Díez Head of International Economics & Markets Recommended Labour market Employment stability improves in Spain Nuria Bustamante Sergio Díaz 14 February 2025 United States of America Measuring Trump 2.0’s fiscal room for manoeuvre Isabela Lara White 14 February 2025 Portugal outlook The Portuguese economy gains strength in Q4 2024 CaixaBank Research 14 February 2025 Spain's outlook The Spanish economy ended 2024 on a strong note and faces 2025 with optimism CaixaBank Research 14 February 2025 Financial markets Recent developments Ups and downs in the financial markets CaixaBank Research 14 February 2025 Public sector 2025 Treasury strategy in a context of reduction of Spain’s public deficit Javier García Arenas 13 February 2025 Real estate New forecasts for the Spanish real estate sector: the expansionary cycle takes hold in 2025 Judit Montoriol Garriga 13 February 2025 Commodities China and the stockpiling of commodities: strategy or growth? Beatriz Villafranca Serrano 13 February 2025 World outlook Surprises, disappointments and uncertainties in the international economy CaixaBank Research 13 February 2025Most readEmployment stability improves in SpainTrump agenda: a question of balanceNew forecasts for the Spanish real estate sector: the expansionary cycle takes hold in 2025China and the stockpiling of commodities: strategy or growth?2025 Treasury strategy in a context of reduction of Spain’s public deficit NewsletterBeing informed now ismore important than everGet our latest updates Sign in Hot topics Monetary and fiscal policy Digitalisation & Technology Podcasts Primeros días de la presidencia de Donald Trump 31/01/2025 Forecasts Financial markets Interest rate (%)Update date 10-02-2025 Macroeconomic GDP (%)Update date 10-02-2025 Team Javier García ArenasSenior economist Jesús ViscarriOrganization Antonio Marta MirandaResearch assistant Sergio DíazEconomist Ana María PorrasOrganization Adrià Morron SalmeronLead economist Maitane LizarragaAnalyst Meet us Josep Mestres DomènechSenior economist María Romero MeléndezEconomista Pedro Álvarez OndinaEconomist Mar Bisquert PerlesData scientist Sandra Jódar RosellDirector of Strategic Planning Nuria BustamanteLead economist Judit Montoriol GarrigaLead economist Meet us Oriol Carreras BaquerSenior economist José Ramón DíezHead of International Economics & Markets Luís Pinheiro de MatosEconomist David Cesar HeymannEconomist Mireia CrusellsAnalyst Alberto GrazianoSenior Data Scientist José Antonio Sánchez PalominoData scientist Meet us Javier Ibáñez de Aldecoa FusterEconomist Carolina CruzOrganization Léopold JouvenEconomist Isabella Castillo HernándezResearch assistant Zoel Martín VilatóEconomist Patricia EstebanCommunication Anna Bahí EstebaResearch Assistant Meet us Ariadna Vidal MartínezLead economist Beatriz Villafranca SerranoEconomist Enric FernándezChief Economist Oriol AspachsHead of Spanish Economics Isabela Lara WhiteEconomist Roser FerrerSenior economist Eduard Alcobé GarciaData scientist Meet us Ana Rincón GarcíaOrganization Imelda EstebanSenior economist Rita Sánchez SolivaEconomist David del ValSenior economist David Martínez TuréganoEconomist Meet usPrint
Tourism The tourism sector once again breaks records and consolidates its role as a driver of growth In 2024, tourism GDP experienced another year of significant growth, with an estimated increase of 6% in real terms, roughly doubling that of the economy as a whole. This performance was driven by a sharp rise in the number of foreign tourists and their average spending,… Pedro Álvarez Ondina 05 February 2025
Tourism What do the elasticities of international tourism demand tell us about the growth of the tourism sector in Spain? The key to the sustained increase in international tourist arrivals is the high sensitivity of demand to income growth in the source countries and a relatively moderate increase in domestic prices relative to the bigger increases occurring in competing destinations. David Cesar Heymann 05 February 2025
Tourism What factors have contributed to the reduced seasonality of tourist spending in Spain? Although the summer months continue to account for a large part of tourist flows, travel outside the high season is growing more rapidly, especially among Europeans and among Spaniards with medium and high income levels. David Cesar Heymann Eduard Alcobé Garcia 05 February 2025
Tourism The catering sector in Spain in 2024: what the data from millions of card payment transactions reveal Based on an anonymised analysis of internal CaixaBank data, we perform an in-depth study of recent patterns in spending on catering in Spain. Pedro Álvarez Ondina Eduard Alcobé Garcia 05 February 2025
European Union The new EU economic governance framework David Martínez Turégano Rita Sánchez Soliva 17 January 2025
Geopolitics Exposure of the European economy to a US tariff hike: a perspective through values chains David Martínez Turégano 17 January 2025
Geopolitics Exposure of the European economy to a US tariff hike David Martínez Turégano 17 December 2024
Geopolitics Exposure of the Chinese economy to a US tariff hike Luís Pinheiro de Matos 13 December 2024
Geopolitics The importance of the trade in goods between Spain and the United States Sergio Díaz 17 December 2024
Geopolitics Impact of tariff hikes on Spanish exports to the US: which sectors could be the hardest hit? Judit Montoriol Garriga Anna Bahí Esteba 13 December 2024
United States of America Measuring Trump 2.0’s fiscal room for manoeuvre Isabela Lara White 14 February 2025
Portugal outlook The Portuguese economy gains strength in Q4 2024 CaixaBank Research 14 February 2025
Spain's outlook The Spanish economy ended 2024 on a strong note and faces 2025 with optimism CaixaBank Research 14 February 2025
Financial markets Recent developments Ups and downs in the financial markets CaixaBank Research 14 February 2025
Public sector 2025 Treasury strategy in a context of reduction of Spain’s public deficit Javier García Arenas 13 February 2025
Real estate New forecasts for the Spanish real estate sector: the expansionary cycle takes hold in 2025 Judit Montoriol Garriga 13 February 2025
Commodities China and the stockpiling of commodities: strategy or growth? Beatriz Villafranca Serrano 13 February 2025
World outlook Surprises, disappointments and uncertainties in the international economy CaixaBank Research 13 February 2025