Spain Business, Taxation and Offshore Information
Spain’s economy has suffered hugely during the recession. Since joining the EU, Spain enjoyed rapid growth; over the past 40 years its tourist industry had grown to the second largest in the world and accounted for around 50% of GDP in 2006. The real estate boom that followed contributed almost 16% of GDP and employed 12% of the workforce.
The collapse of the property boom has led to high increases in personal debt with unemployment now at the 26% mark. More »