Europe’s economic response to the COVID-19 crisis took shape in July: the European Council approved the Recovery Plan for Europe, the so-called NGEU, via which the European Union will grant up to 750 billion euros to its member states to stimulate their economic recovery after the shock of the pandemic. This is an unprecedented agreement and it could have a considerable impact on Europe’s real estate sector since one of the EU’s main goals, to which this Recovery Plan aims to contribute significantly, is to reduce greenhouse gas emissions by 55% by 2030 compared with 1990 levels. It is clear that renovating Europe’s buildings, which are responsible for 40% of the continent’s energy consumption, will be key to achieving this climate target.
Search at CaixaBank Research
Search results
689 results found for Caixa now
Technology is advancing at a frenetic pace and offers the agrifood chain a large number of opportunities to make its production more efficient and sustainable. Moreover, the arrival of COVID-19 has shown that the most digitalised companies were able to continue their activities more readily than the rest. In this article we examine the degree of popularity of the different digital technologies used in the primary sector and agrifood industry based on a text analysis of over 2 million tweets on Twitter. All these technologies are essential to create a connected ecosystem that will make up the Food Chain 4.0 of the future.
Commercial real estate performed very well in the first half of 2022 but this situation is changing rapidly in the wake of the sharp hike in interest rates implemented by the ECB to curb the advance of inflation. All the evidence seems to suggest that office property may see the largest adjustment in valuation terms as this has the narrowest yields. Retail, whose valuations have already suffered several years of intense adjustment, could now become more stable than the rest of the segments. On the other hand, logistics assets, the star product lately due to the boom in e-commerce, may be more sensitive to any deterioration in the macroeconomic environment. Finally, we look at the co-living segment which has been attracting a lot of investor interest recently in Spain, especially in the case of senior living, a segment with very positive prospects considering the demographic outlook that will support demand in the medium and long term and the current limited supply.
In June 2016, the United Kingdom’s vote in favour of leaving the European Union (EU) opened up a new scenario for the British economy that could have important repercussions for the Spanish economy and particularly for the tourism industry, which receives around 16 million British tourists a year1. In this article we examine the impact of Brexit on the number of British tourists visiting Spain and its potential impact in the future under different EU exit scenarios.
- 1This figure represents nearly 22% of Spain’s total inbound tourism (2018 data).
2020 will go down in history as the year of COVID but it will also be remembered that, faced by a very difficult situation, the response provided by the food chain was extraordinary, guaranteeing an uninterrupted supply to all Spanish households. A year and a half later, the primary sector still looks remarkably dynamic, although the exceptional growth rates posted during the most critical months of the pandemic have now been left behind.
The initiation of the ECB’s monetary policy normalisation process has led to an acceleration in house prices, especially in markets with a significant mismatch between insufficient supply and dynamic demand. The economies in which real prices have increased the most in the last year and a half, and where the residential markets are showing signs of more significant overvaluation, include Portugal, Bulgaria, Hungary, the Netherlands and Estonia. In contrast, the markets of large economies such as Germany, Sweden, France and Luxembourg remain overvalued, but have corrected the strong price growth they experienced in the decades leading up to the pandemic, reducing signs of overheating.
The outlook for the Spanish economy as a whole is highly dependent on the trends in inflationary pressures, especially those related to energy. The primary sector was already suffering from rising production costs and the war in Ukraine has merely aggravated the situation.
Catalina is a Research Assistant in the Department of Spanish Economics. She holds a degree in Economics from the University of Buenos Aires and a Master's degree in Economics and Finance from the Barcelona School of Economics. Before joining CaixaBank, she worked at J.P. Morgan & Chase as a Trade Lifecycle Analyst and at Accenture as a Deal Structuring & Pricing Senior Analyst.
Léopold is an analyst in the Strategic Planning Department. He graduated from the Analysis and Policy in Economics programme at the Paris School of Economics, after studying at the universities of Panthéon-Sorbonne and Toronto. Before joining CaixaBank , Léopold had several experiences in both Europe and Latin America: he was an economic journalist at the French financial daily newspaper Les Echos and worked as an economist at the French Embassy in Buenos Aires and as an economist for Southern Europe at the Crédit Agricole Group. In Madrid, he coordinated the monitoring of macro-financial developments in Latin America, first at Telefónica and, more recently, at Mutua Madrileña, where he was also responsible for the analysis of monetary policy and the Spanish financial sector. Within the Strategic Planning team, his main areas of research include monitoring the macro-financial outlook in Spain and trends that could affect the supply and demand for financial services.
Pedro Álvarez is an economist in the Spanish Economics department. With a Master’s degree in Applied Economics from the University of Oviedo, after specialising in the study of financial crises and early warning systems he began his career at the Inter-American Development Bank in the USA. Prior to joining CaixaBank Research he had accumulated more than fifteen years of experience in analysing the economic outlook in other financial institutions. Currently, his areas of research include macroeconomic analysis of the Spanish economy, with a particular emphasis on sectoral analysis.
Ana Maria is an Assistant in the Strategic Planning and Research Division and carries out a variety of tasks to help and support various projects. With studies in administration, telephony and hairdressing, she also has extensive experience in customer service and sales after having worked at Decathlon and Telepizza. While at the company Taler she got to know the administrative world of the office in depth. A person who is engaged, very optimistic and with a great willingness to learn and overcome challenges every day. She loves travelling, dancing and enjoying the company of friends and family.
Maitane is an analyst in the Department of Strategic Planning. She holds a degree in Economics and Master’s in Banking and Financial Regulation from the University of Navarre. Prior to joining CaixaBank, she worked in the Supervisor Relationship management team at Bankia, and previously at EY as a manager in the department of financial accounting services for the banking sector. Her primary area of research is the Spanish banking system.
Rita is an economist in the International Economics & Markets Department. She holds a bachelor's degree in Economics from the Complutense University of Madrid (UCM), a master’s degree (Advanced Studies diploma) in Economic Analysis and Quantitative Economics from the same university, and is accredited with the CIIA ® certification. Prior to joining CaixaBank, she worked as a research assistant at the faculty of economics at UCM, where she also taught as an associate, and as a macro analyst at Afi, Intermoney and Bankia Estudios. Her areas of research include macroeconomics, with a particular emphasis on the euro area.
Eduard is a data scientist in the Spanish Economics Department. He holds a degree in Physics from the University of Barcelona and a Master’s degree in Intelligent Interactive Systems from Pompeu Fabra University, in which he put into practice artificial intelligence applications, machine learning models and big data techniques. He is part of the first edition of CaixaBank’s Data Talent programme.
Manu holds the position of Research Aassistant in the Department of International Economies and Markets. He has a degree in Physics from the University of Barcelona and a Master's degree in Financial Economics from the Barcelona School of Economics. Before joining CaixaBank, he worked three years at TradeHeader as a financial consultant.
José Antonio is a data scientist in the Department of Strategic Planning. He holds a degree from the Polytechnic University of Catalonia, where he was part of the second ever intake of the degree in Data Science and Engineering, and he is participating in the first edition of CaixaBank’s Data Talent programme. Prior to joining the bank, and in conjunction with his university studies in Barcelona and Stockholm, he co-founded a tech start-up with two partners, where he complemented his education in technology with a well-rounded and comprehensive view of the business world.
Luís is an economist for the International Economics & Markets Department. He has a PhD in Economics from Cardiff University and a Master in International Economics and European Studies from Lisbon University. Before joining CaixaBank, he was Visiting Assistant Professor in Economics and the Public Sector at Pompeu Fabra University and a Postdoctoral Researcher at the Barcelona Graduate School of Economics and Centre for Research in Health and Economics (CRES-UPF). His areas of study include public economics and macroeconomics and particularly international fiscal policy, specialising in monitoring China and the European Uninon.
Imelda is a senior economist in the Banking Strategy Department. With a Master's degree in Financial Markets from the Catholic Institute of Business Administration (ICADE), before joining CaixaBank she worked as director of financial systems at Bankia Research. Her main areas of research include the Spanish banking system, especially tracking business volumes, as well as the competitive and regulatory environment of the financial sector.
Antonio is a senior economist in the Department of International Economies and Markets. He holds a master’s degree in Macroeconomic Policy and Financial Markets from Pompeu Fabra University and, more recently, another in Data Science. Prior to joining CaixaBank, Antonio worked as a senior economist in the research teams at Citigroup and BNP Paribas in London, United Kingdom. His areas of research include financial markets, monetary policy and global macroeconomic developments. He coordinates the Brief Notes and other publications.
Isabela holds the position of economist in the International Economics & Markets. Graduated in Economics from Boston University and Master in Macroeconomic Policy and Financial Markets from the Barcelona School of Economics, before joining CaixaBank she worked at AV Securities as an economic and market research analyst for the wealth management area. Her current areas of study include macroeconomics, especially US monetary policy and activity, and financial markets.