Economy

In 2020, Iceland, Switzerland and Norway are top of the Global Retirement Index which assesses pensioners’ welfare and financial security. Future retirement security could be at risk as a result of the recent situation caused by Covid-19. Five main risks have been identified. Spain drops for the second year consecutively. It currently holds the 32nd … Continued

Switzerland tops the innovation index for the 10th consecutive year as a result of its business adaptation capacity to new technologies. There is a positive correlation between a country’s degree of development and its capacity to innovate. Nowadays, the most important technological clusters in the world are in the US and East Asia. Spain ranks … Continued

We analyze how the pandemic has affected the economies of India and China. In September, there were more than 25 million cases of Coronavirus worldwide (0.3% of the cases in world population). In accumulated terms, the US is the country with the largest number of cases, followed by India. Currently, India is the country with … Continued

Iberian Peninsula countries represent almost 9% of EU GDP and more than 10% of its population. In July, the European Commission forecasted than  Spain and Portugal will suffer two of the biggest GDP decreases in the region (-10,9% and 9,8% respectively). Both economies depend on large measure on the service sector, which has been the … Continued

Prepare the economy for rapid response capabilities Reinforce our health and healthcare capabilities Strengthen our education system Maintain a level of manageable indebtedness and a robust capital structure Strengthen our supply chains Create a favorable and stable business environment, guaranteeing judicial security Boost and consolidate public-private partnership models

Círculo de Empresarios has presented the book “How to save liberal democracies”, in whose preparation has participated a team of six experts, coordinated by professors Víctor Lapuente and Elena Costas. The presentation, which took place by videoconference, was attended by the chairman of the Círculo, John de Zulueta, the professor at the University of Gothenburg, Víctor … Continued

The Círculo de Empresarios and Boston Consulting Group (BCG) have presented the report “Transformation of the Spanish production model” in which they propose 14 priorities for the necessary economic transformation of Spain. After the terrible human and economic impact of Covid-19, “we must take advantage of this crisis,” says the report, “not only to rebuild what has been destroyed, but to … Continued

Prioritize innovation, entrepreneuship and an increase in the size of spanish companies Boost investment in techonology and digitalization Lead the commitment to sustainability Reinfoce industrial added value Development of a new tourism model Transform distribution and logistical activities Lead the transition to new forms of mobility

Historically, global crises have generated fundamental changes in beliefs and social attitudes, in turn, these have led to new policies and regulations. The global market of digital health will reach around €530 Billion in 2025, driven by new technologies and artificial intelligence. The crisis caused by Covid-19 will reconfigure international relations over the next few … Continued

The OECD forecasts two growth outcomes conditioned by a possible second wave of the virus before the end of the year. Spain tops the table for the countries hardest hit by the economic collapse, with a fall of 14.4% according to pessimistic forecasts. The OECD projects a significant increase in unemployment in 2020, with temporary … Continued

For 2020, the European Commission forecasts a historic drop in GDP in the EU (-7.4% annually). By countries, the biggest decreases will take place in Greece, Italy, Spain and Croatia. Employment forecasts place Greece and Spain with the highest levels of unemployment (19.9% and 18.9%, respectively). The EU public deficit will increase to 8.3% of … Continued

The slump in economic activity as a result of Covid-19 has led to the biggest drop in employment in one month in its history, falling back to 2009 levels. In April, the unemployment rate rose to 14.7%, while the average hourly wage worked increased 7.9%, to $ 30.01. By sector, the leisure and hospitality industry … Continued

In 2020, GDP of the main European cities will plunge due to the impact of Covid-19. The contraction will be conditioned by the structural characteristics of each city. By sectors, the service sector, and in particular the hospitality industry, will be hardest hit economically. In cities, GDP growth will be conditioned by their exposure to … Continued

In 2020, world tourist arrivals will fall by 20% to 30% annually as a result of the impact of the coronavirus. The estimated loss of revenue will be 50% and, in the case of air transport, it will be concentrated in the regions of Europe, Latin America and the Middle East. Spain is one of … Continued

On 9 March 2020, the Dow Jones, along with the other stock market indexes, registeredone of th e biggest ever falls in its history, caused by the impact and uncertainty surrounding the international spread of the coronavirus. As a result of the situation, the authorities have responded with a wide range of monetary and fiscal … Continued

Círculo de Empresarios, together with a wide group of business associations from all over Spain, has published a statement on the latest economic measures adopted by the Government, with an impact on companies, as a consequence of the coronavirus crisis: Despite the herculean efforts of healthcare professionals in the public and private sector, often without … Continued

The figures for active cases and deaths continue to grow relentlessly. This is despite the praiseworthy endeavors of healthcare professionals for whom the various levels of Administration must make every effort to obtain the necessary resources to carry out essential tasks with the least possible risk to their health. With considerable donations of personal protection … Continued

Faced with the economic impact of the coronavirus, central banks have responded with significant interest rate reductions and liquidity provisions, limiting their options for future adjustments. Since the 2008 financial crisis, central banks have already significantly lowered their interest rates and increased their balance sheets through bulk asset purchasing programs (QE). Future measures by central … Continued

Germany accounts for 29% of Eurozone GDP and 25% of its population. In the previous decade, its unemployment rate has remained below the average for the Eurozone, reaching its current level of 3.2%. German GDP growth has fluctuated within a range of just 1 pp between 1981 and 2020, in spite of the slowdown that … Continued

On 31st December 2019, China alerted about the onset of the coronavirus (COVID-2019) in Wuhan. The number of infected people has increased significantly, mainly in China. As a result of this outbreak, the IMF lowered its global economic growth forecast in 2020 between 0.1pp and 0.2pp. China will be the hardest hit economy. In China, … Continued

Brexit materialised on January 31, 2020, entering a transition period to negotiate the future relationship until December 31. Before leaving the EU, the United Kingdom was the 2nd largest economy in the EU, representing 15.2% of European GDP and 12.9% of its population. Moreover, its GDP per capita exceeds the EU average by 11%, and … Continued