Tourism in Spain Decreased the Unemployment Rate Over Summer

Spain is one of the top destinations for tourism purposes and, in the last years, the country has received increasing numbers of visitors. The tourism industry has had positive effects on other economic sectors and one of the most important aspects related to this matter is that the tourism activities in Spain reduced the unemployment rate. For example, in the second quarter of 2018, the unemployment rate decreased from 16.7% to 15.3%. Our team specialists in company formation Spain can offer in-depth advice on the employment regulations applicable in this country. 

 

 

Spain is one of the most competitive markets in terms of touristic activities as it represents the world’s second main tourism destination, after France. Although Spain has struggled with unemployment after the beginning of the economic crisis, the last years have shown that the job creation has steadily increased. Our team of consultants can offer information on the incentives that sustain employment in Spain. 

 

During the second quarter of the year, which is also one of the best seasons for an increasing number of incoming tourists, the unemployment rate decreased, especially in the services sector. 

 

Due to the high number of tourists, there was an increasing number of employees in services sector and many of them signed temporary employment contracts. The regions which registered an increasing number of employees were the ones that traditionally attract numerous foreign visitors as follows: 

 

• Balearic Islands;

• Andalusia;

• Catalonia. 

 

Investors who want to open a company in Spain should also know that the unemployment rate is currently decreasing in the case of persons of with an age below 25 years old.  

 

 

The contribution of the tourism industry to the local economy is of high importance. For example, in 2017, it represented 14.9% of the country’s gross domestic product (GDP), while the estimates for 2018 show that it will grow by 2.9%. 

 

In 2017, tourism and travel related activities represented 4.9% of the total Spanish employment market (930,500 direct jobs) and in 2018 it is expected to grow by 2%. 

 

Businessmen are invited to contact our team of representatives in company formation in Spain for more details related to investments in the tourism sector.