The retail sector plays a very important role in an eminently service-based economy such as Spain’s, with a larger share compared to other European economies in terms of activity, jobs and number of firms. It is an atomised sector with a considerable number of SMEs and micro-SMEs and is particularly labour-intensive. Moreover, its presence is widespread throughout the length and breadth of our country. All this gives it a certain cohesive role, both from a social and territorial point of view, within the Spanish economy.
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Financial inclusion guarantees people access to an appropriate level of financial services. The considerable decline in the number of bank branches in Spain in recent years has increased the risk of financial exclusion for some customers in rural areas. These customers tend to prefer a physical bank branch and specialised offers, especially in the business segment. Within this context, the role played by rural bank branches is twofold: they allow the banking sector to specialised offers in economic sectors critical to large parts of the region, such as agriculture, whilst also maintaining a commitment to financial inclusion.
The tourism industry is a key sector for Spain's economy and the decline forecast in tourism for 2020 will have a major impact on the country's level of economic activity. However, this economic impact will not be spread evenly throughout Spain as there are big differences between regions in the relative importance of the tourism sector. We expect the islands and Mediterranean communities to be more exposed than the average in Spain, while inland regions will suffer less.
International tourism tends to be the main focus of attention when we talk about Spain’s tourism industry. However, domestic tourism also plays an important role: Spaniards travel more than 175 million times a year within Spain and generate an associated tourist expenditure of 30,000 million euros1. In this article, we examine the recent trends in Spain’s domestic tourism and discuss the main differences between domestic and international tourists.
- 1. A trip is considered to be any journey made to a main destination outside the person’s customary zone of residence that entails at least one overnight stay outside this zone.
This winter’s drought has highlighted one of the most important challenges facing Spain’s agrifood sector: improving how water resources are used given the prospect of their availability becoming more limited.