The Portuguese tourism sector is making headlines, with its exuberant statistics and optimism surrounding its future outlook. In this article we present the key figures of the tourism sector and their impact on the macroeconomic accounts.
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In the current circumstances, each person’s perception of the economic situation is very different and may be heavily influenced by the sector in which they work or the region in which they live. Fortunately, we have data which we can use to check our impression of the economic reality.
The beginning of a new economic chapter is marked by the sensation that we may be approaching a turning point in the behaviour of the economy.
Consumption is one of the main drivers of the Spanish economy. In recent years, it has grown at a rate of around 3% in real terms. So far, few surprises. Where profound changes have occurred, however, is the way in which this consumption takes place, particularly for certain population groups and in specific sectors. Many people still visit physical shops to see, touch and try the product before purchasing it. However, people are increasingly making their purchases through digital channels. Some, in fact, already carry out most of their spending online. Who are these digital consumers? In which sectors are they most present?
Geopolitical developments continue to loom over the global economy, with the focus remaining on the Middle East.
We summarise the current state and future outlook of Spain’s real estate sector, in this preview of the CaixaBank Research Real Estate Sector Report 2S 2023.
In this article, we address the sustainability challenge facing our public pension system, based on the analyses carried out by the AIReF, the European Commission and the Ministry of Inclusion, Social Security and Migration.
According to the first estimate for Q1 2023, GDP growth gathered pace compared to the previous quarter, with a quarterly increase of 0.5% versus 0.4% in Q4 2022 (after being revised 2 percentage points upwards). In year-on-year terms, growth rose to 3.8%, versus 2.9% in the previous quarter.
Emerging countries have experienced a number of crises throughout the various cycles of monetary tightening in the US, enduring a very high economic and financial cost. What will be the consequences of the Fed’s rate hikes for their economies?
The 12-month Euribor has rallied from –0.50% at the end of 2021 to over 1.0% in the second half of June, its highest level since early 2014. Why has it increased and what impact does this have on the economy? What can we expect over the coming months?
One of the imbalances that has traditionally characterised the Spanish economy is its high levels of foreign debt, which is a source of vulnerability in the event of possible shocks in the financial markets and also jeopardises the sustainability of expansionary cycles.
We dedicate the dossier of the December issue to one of the major determining factors for social well-being and cohesion: inequality. Through the monthly monitoring of internal data that we have carried out since the pandemic, we are able to confirm the downward trend of inequality in Spain, contrary to that observed in the main developed economies, and we stop to examine the recent evolution of Spain’s middle class. In other articles of the report, also using internal data, we analyse the economic impact of the floods in Valencia and how households in Catalan municipalities in a state of drought adjusted their water consumption. In addition, we study the exposure of the Spanish, European and Chinese economies to tariff hikes in the United States.
While the direct impact of an increase of US tariffs on China may be limited, perhaps the greatest risk lies in the indirect effects of an escalation of protectionism: an old rule of international trade is that there is no such thing as an unanswered tariff.
What’s behind the semiconductor shortage? Is it a transitory phenomenon attributable to the pandemic or does it also reflect structural factors linked to the specific characteristics of the sector?
The impact on the EU of a universal tariff on US imports of goods goes beyond the direct effect it will have on exporting companies, as it will also be felt indirectly across the economy as a whole and throughout European and global value chains.
Foreign demand is a fundamental pillar in explaining the strength of housing demand in the current expansionary cycle. Much of this demand comes from foreigners who reside in Spain – a group that has been on the rise in recent years with the recent influx of immigrants into our country.
The savings rate of Spanish households remains very high, but it can vary substantially depending on income level, so it is important to analyse how it is distributed according to income level and age. We dedicate this article to such an analysis, using anonymised internal data and big data techniques.