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 readInternational economy: on the rise2024 Treasury: the increased participation of domestic and non-resident investors will absorb the greater funding needsElection year in the USImpact on the national accounts of the partial extension of anti-inflation measures in 2024The Spanish economy ended 2023 on a good note and kicks off 2024 with optimism NewsletterBeing informed now ismore important than everGet our latest updates Sign in Hot topics Demographics Macrofinance 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 Ariadna Vidal MartínezLead economist David Martínez TuréganoEconomist Isabela Lara WhiteEconomist José Ramón DíezHead of International Economics & Markets Ana Rincón GarcíaOrganization Adrià Morron SalmeronLead economist Javier Ibáñez de Aldecoa FusterEconomist Meet us Eduard Alcobé GarciaData scientist Nuria BustamanteLead economist Pedro Álvarez OndinaEconomist Judit Montoriol GarrigaLead economist Ana María PorrasOrganization Enric FernándezChief Economist José Antonio Sánchez PalominoData scientist Meet us Isabella Castillo HernándezResearch assistant Léopold JouvenEconomist Oriol AspachsHead of Spanish Economics Oriol Carreras BaquerSenior economist Zoel Martín VilatóEconomist Luís Pinheiro de MatosEconomist Anna Bahí EstebaResearch Assistant Meet us Mireia CrusellsAnalyst Beatriz Villafranca SerranoEconomist David Cesar HeymannEconomist Alberto GrazianoSenior Data Scientist Jesús ViscarriOrganization Sandra Jódar RosellDirector of Strategic Planning Javier García ArenasSenior economist Meet us Sergio DíazEconomist Imelda EstebanSenior economist Rita Sánchez SolivaEconomist Maitane LizarragaAnalyst David del ValSenior economist Antonio Marta MirandaResearch assistant Roser FerrerSenior economist Meet us Carolina CruzOrganization Mar Bisquert PerlesData scientist Patricia EstebanCommunication María Romero MeléndezEconomista Josep Mestres DomènechSenior economist 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