Economy in Spain

The entry of Spain into the European Economic Community ( EEC ) on January 1, 1986 accelerated and strengthened economic momentum started. 

The entrance required the country to open its economy , with a strong increase in foreign investment and a modernization drive of the Spanish company to foreign competition. 

There was also an increase in public investment in infrastructure among which were those relating to the splendours of the 92 Barcelona Olympics and Seville Expo . 

There was a tug of consumption also motivated by an enrichment effect caused by the rise in the stock market and the value of property .

 With this, Spain accelerated GDP growth , reduced the public debt, reduced the unemployment rate from 24.4 % to 15 % in three years inflation and fell below 3 %.

• First, the incorporation of Spain to the Monetary Union. The entry into force of the second stage of Economic and Monetary Union of the European Union in 1994 led to a fall in interest rates, which intensified after the introduction of the euro as its official currency replacing the peseta, which left circular in 2002. the rate cuts and the absence of exchange rate risk within the euro zone came to cause the existence of negative real interest rates and encouraged increased investor confidence and a sharp increase credit, which led to increased demand for housing and consumer durables and subsequently increased investment and employment companies favored by the increased demand. This decline in interest rates also brought the birth of the so-called housing bubble, which inflated the price of homes with increases during this period of more than 30% in terms reales.33

• The second cause of lived expansion in Spain was a massive influx of immigrants, mainly from 2002, attracted by a growing demand for employment in the construction sector and some basic low-level services added as hospitality and domestic service. This arrival brought a new impetus to the Spanish consumption and investment and at the same time prevent the strangulation due to lack of labor in certain sectors.

From 2008 to 2012 there was and remains a great economic crisis in our countries but highlighted these 5 years (also 2013 and 2014 were years in which there was a lot of crises but was improving). Currently in 2016 Spain´s economy is very fragile, it´s improving although still a large number of unemployed and that´s  still something that marks our country.

Currently our country is mainly sustained by tourism and leisure activities. In the various sectors we do not include much, for example in a sector in which we highlight in the high-speed trains such as AVE, Spain has to improve a lot and with the help of the EU will get.