The paper "The Economy of Spain" is a wonderful example of a report on macro and microeconomics. Being the 12th largest economy in the world, and also ranking 5th in the whole of Europe in terms of nominal GDP assessments, Spain is internationally recognized as the 20th most industrialized nation in the world. Up to 2008 Spain attracted a significant amount of investors into its economy due to the political stability, economic boom, and investing opportunities that Spain was experiencing. This made Spain to be recognized by her European counterparts as being the most vibrant economy in all of Europe.
The economy of Spain is also renowned for its ability to always be experiencing a constant growth rate as opposed to having a zero growth rate that is even being experienced by larger and more developed countries in Europe. Moreover, more than 50% of all employment opportunities created within the European Union in the last half a decade is directly linked to Spain’ s economic activities. The economy of Spain has most recently been one of the largest benefactors of the Worldwide Estate Boom.
This Worldwide Estate Boom impacted their construction industry and also increased employment opportunities whereby there was an increased GDP representation of the construction sector to 16% and 12% on employment. It has been the view of many economists the most recent being a certain article in a German local newspaper concluding after doing some calculations that the German economy is being slowly being outdone by the Spanish economy and if Spain continues at its current path the German economy will be surpassed by the Spanish economy by 2012. Nevertheless, this Worldwide Estate Boom also brought with it some detrimental effects on the economy.
The construction and development sector was also a victim of the global financial crisis although it was as hard hit as compared to the same sectors in other European countries and other countries around the world. This has been through a heightened personal debt level in the Spanish economy. This has been due to the fact that prospective homeowners are enticed to purchase these beautiful houses but luck the fiancé s to do so therefore the take-up loans or mortgages and pay up slowly.
Article: Investing in Spain by Nicholas Vardy - September, 2006“A global investor's discussion of Spain's economic boom”
The Pain in Spain: (May 1, 2009) On May Day, Nearly 1 in 5 are Jobless by Andrés Cala, The Christian Science Monitor
Alternatives to Fiscal Austerity in Spain from the Center for Economic and Policy Research, July 2010
O'Neill, Michael F.; McGettigan, Gerard (2005), "Spanish biotechnology: anyone for PYMEs?” Drug Discovery Today, News and Comment (London: Elsevier) 10 (16): 1078–1081, 15 August 2005
Economist Intelligence Unit (28 April 2009),"Spain Economic Data", Country Briefings (The Economist), archived from original on 19 May 2009, retrieved 2 May 2009
Crawford, Leslie (8 June 2006), Boomtime Spain waits for the bubble to burst, Financial Times, Europe (Madrid),