2021: Doing Business In Spain

1. What is the current business climate in your jurisdiction including major political, economic and/or legal activities on the horizon in your country that could have a big impact on businesses?

Spain is the 14th-largest economy in the world and the 4th-largest economy in the EU: GDP worth near USD 1.4 trillion.

Spanish GDP contracted around 10% in 2020, in line with expectations. In contrast, following a start of the year marked by uncertainty, the recovery is expected to accelerate and the economy to grow by 5.5% this year and 7.0% the next. However, if limits on the spread of the virus continue and progress in line with government vaccination plans, these forecasts will bias upward.