Spain | Andalusia Economic Outlook. Second Half 2021

The GDP of Andalusia could grow by 5.5% in 2021 but with a downward bias due to the advance estimate of the Quarterly Accounts. In 2022, regional GDP growth could reach 5.2%. If the forecasts are met, Andalusia would create, on average for the year, some 200,000 new jobs between 2020 and 2022.

Key points

• Key points:
• High growth in 2021 (5.5%), but with a downward bias. Consumption acts as a support and is the main driver of strong growth, especially in services.
• Tourism is pushing more than in other regions. Progress in vaccination and the easing of restrictions are allowing the arrival of visitors from the rest of Spain.
• The arrival of foreigners begins to rebound, but travel by plane, cruises and urban tourism are slower, limiting the recovery of tourist activity in the areas most dependent on foreign tourism.
• In 2022, growth will remain robust at 5.2%, although below that of Spain as a whole (5.5%). This will allow 200,000 new jobs to be created between 2020 and 2022. Supported by the existing savings bag, consumption will remain strong. In addition, tourism will advance towards its normalization.

Authors

Geographies

Topics

Tags