He may be not the most popular man in Spain but Mariano Rajoy, the Spanish prime minister, can take some credit in the remarkable turnaround of the Spanish economy. Five years ago it appeared that Spain's economic future looked exceptionally grim. The severe worldwide recession had hit Spain hard; unemployment rocketed, thousands of people lost their homes and the economy went into meltdown. Rajoy promised to fix the economy; most people were rather sceptical. But a mixture of luck and a business plan from the government has ensured that the economy is back on track, with levels of economic growth not seen since the boom days.

Now, tourism has helped Spain. The security concerns over resorts in north Africa and to a lesser extent the eastern Mediterranean has meant that Spain has welcomed a record number of tourists of all nationalities. This has helped reduce the unemployment rate and tourist spending power has meant that many local businesses have prospered. But there are dangers ahead. Sooner or later resorts in north Africa will start attracting tourists again. The weaker pound following Brexit will mean that British tourists will be curbing their spending and of course there is Brexit. Spain is one of Britain's principal trading partners. Spanish businesses have invested heavily in Britain over the last decade. But for the time being at least Rajoy can feel rather proud of his economic track record.


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SS / Hace over 4 years

Spain is outperforming its peers of the "Club Med" even if its growth its fueled by the ECB. Compare this with the unexistent economy growth in Italy - benefiting from the current ECB government bonds purchase as well - and you get the full picture. It looks like Spain enjoys much more disciplined and country-focused politicians. Of course, nation-wide macro-economic performance indicators such as GDP do not tell the full story because of wide cross-regional differences, but the same holds true for other European countries like Germany.


Henry James / Hace over 4 years

Miracle.? So how come Spain still has the second highest unemployment rate in the EU,second only to Greece.? And how come it is eye-deep in debt and narrowly missed having to pay a huge financial penalty for not meeting it's agreed debt repayments,a decision that was made because it was felt that a financial penalty would only make things worse for Spain,some miracle.


MelB / Hace over 4 years

The weakness of the whole monetary system remains a major threat. The Spanish banks are woefully undercapitalised and with the constant and increasing rumblings of nationalism in the European block the Spanish economy remains on very shaky foundations.


S. / Hace over 4 years

Rajoy has achieved a remarkable turnaround of the main Spanish economy. But , how much has been repaid to the European Central Bank, of the huge borrowed debt ?.