Finance

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Tourist expenditure in Spain by Britons, Germans, and the French exceeds pre-pandemic levels

IN March, the majority of visitors to Spain were British, followed by Germans and French. In March alone, before the Easter vacation and long before the summer season begins, 4 million visitors visited Spain. This figure is just 29% fewer than the same period in 2019 before the epidemic started. Despite the reduced numbers, they spent more than they did two years ago: each international visitor spent...

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Spain lowers its growth prediction for 2022 due to the conflict in Ukraine

SPAIN cut its economic growth prediction for 2022 on Friday, owing mostly to the effects of Russia's invasion of Ukraine, which has fueled inflation and harmed consumer demand. According to the economics ministry, the eurozone's fourth-largest economy's GDP is now likely to grow by 4.3 percent rather than the 7.0 percent earlier forecast. "The attack against Ukraine has significant economic and...

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BBVA raises its forecast for its business in Spain and Mexico for 2022

BBVA's CEO, Onur Genç, stated at the presentation of the first-quarter results that the bank has an improved outlook for Spain and Mexico in 2022 "due to better-than-expected business fundamentals." He stated that business dynamics are "very good" across all geographies. According to Onur Genç, BBVA in Spain enjoyed "great revenue performance and a considerable improvement in cost-to-income and...

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Queues in gas stations across Spain for fuel discount

AROUND the new fuel discount, there has been chaos, payment problems, and huge lines in filling stations all over Spain. As a result of the high volume of consumers, thousands of service stations throughout Spain reported computer problems. Service stations are closed, systems are down, and there are enormous lines... On Friday, April 1st, the first-day filling stations applied the 20 cents per...

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Inflation in Spain rose 9.8% in March, the highest level since 1985

ACCORDING to Spanish authorities, inflation rose to 9.8% in March, the highest level since 1973. Over the past year, consumer price inflation has surged worldwide, causing Spain's inflation rate to hit a 37-year high in March. Compared with February, the nation's national statistics office reported the highest inflation rate since May 1985; the provisional figure has increased from 7.6%. The...

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Regional governments in Spain agree to slash energy taxes

ON Sunday, March 13, the government and the autonomous regions convened to express their unanimity favouring Pedro Sánchez's position on energy tax reductions before the European Union. "We are proceeding to support give a hand to individuals affected by the surge in energy prices," the Xunta's Head remarked as he reviewed the situation in Ukraine. Isabel Rodrguez, a spokesperson, stated, "Today,...

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I’m invested in Euro denominated funds – so what?

If you have investments in Euro denominated funds, the chances are you are not seeing the heady performance compared to funds invested in Sterling over the last few years. The degree of out performance of Sterling over funds invested in Euros can be quite staggering. The problem seems to be that when looking into Euro funds to invest, it is our experience that there just is not the same choice of good...

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Why is Spain so different?

According to FCA data, 84% of UK based financial advisors can class themselves as ‘independent’. An Independent advisor can search the whole market for the best solution for their clients, rather than being restricted to a small selection of ‘off the shelf’ funds. Being independent is by far the most popular option in the UK, because, on the whole, it is the best for the end client, and surely that...

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6 financial steps to take now for a fresh start in 2020

Looking ahead to a fresh financial start, we at Chorus Financial have drafted a list of 6 financial year-end tips to help our readers prepare for a financially sound 2020. Consider tax strategies Maybe you’re planning to become tax resident in Spain in 2020? If you are then it is essential that your current financial position is reviewed to ensure all of your savings/investments & pensions continue...

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Turner on the twenty

EXPATRIATE readers may well come across the new £20 note next time they return to the UK after they entered circulation last week.  Said to be the most forgery proof yet, the note is made of polymer making them significantly longer lasting than the old paper versions. They also incorporate two windows and a two-colour foil, making good forgeries almost impossible to create according to the Bank of...

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