Spain Facts and Figures

Spain’s Global Role and Achievements

Located in southwestern Europe on the Iberian Peninsula, Spain borders Portugal and France, with vibrant cities like Madrid, Barcelona, and Seville. Spain became a member of the United Nations in 1955, followed by the European Union in 1986, marking critical steps in its international integration. Spain is also part of the Eurozone and NATO, which bolsters its economic and strategic influence. Known for its cultural richness, Spain leads in global tourism, hosting millions yearly drawn by its historic architecture, cuisine, and Mediterranean climate. These factors make Spain an ideal subject for academic and market research in Spain, offering insights into diverse sectors.

Transformative Events and Economic Resilience

The 2008 global financial crisis had a substantial impact on Spain, causing severe economic contraction and high unemployment. In response, Spain implemented structural reforms and austerity measures, focusing on fiscal stability and labor market flexibility. This recovery laid the groundwork for economic resilience, with recent growth led by sectors like tourism and services. Spain’s ability to adapt to economic challenges has strengthened its financial position within the Eurozone, showcasing the country’s commitment to long-term stability and growth.

Demographic Profile of Spain

Spain’s population reached 48,373,336 in 2023, with a population density of 95 people per square kilometer as of 2021. The working-age group, comprising 65.9% of the population in 2022, reflects a strong labor force, though the median age of 45 years in 2024 shows an aging demographic. Life expectancy is high at 83 years, underscoring quality healthcare and living standards. Annual population growth stands at 1.2% in 2023, yet with a fertility rate of 1.2, Spain falls below the replacement level, which could impact workforce availability in the long term. The crude death rate is 9.7 per 1,000 persons, and infant mortality remains low at 2.5 per 1,000 live births. An urbanization rate of 81.6% in 2023 signals a highly urbanized society, with most of the population concentrated in metropolitan areas.

Economic Indicators

Spain’s economy is robust, with a GDP of $1.58 trillion in 2023, ranking it 15th globally. The economy grew at a strong rate of 5.8% in 2023, signaling post-pandemic recovery and resilience. Inflation has moderated from 3.4% in 2023 to 2.7% in 2024, aiding economic stability. However, Spain faces a trade deficit of $47.1 billion, with exports totaling $423.2 billion and imports at $470.3 billion. Unemployment, although improved, is still significant at 12.2% in 2023, down from 12.9% in 2022. The services sector dominates Spain’s economy, contributing 67.9% of GDP in 2022, followed by industry at 20.8% and agriculture at 2.3%. Public finance shows high debt levels, with general government debt at 111.98% of GDP in 2022 and central government debt rising from 77.5% in 2012 to 102.25% in recent years, reflecting fiscal pressures.

Military Spending and Personnel

Spain’s military expenditure accounted for 1.5% of GDP in 2022, a slight increase from 1.4% in 2021, reflecting Spain’s commitment to NATO and regional defense. The country maintains 122,000 military personnel (2016), equivalent to 26.3% of the total population, emphasizing a modest yet efficient defense force.

Conclusion

Spain reveals a country with strong urbanization, a service-dominated economy, and an aging population. Its economic resilience, service sector focus, and stable inflation position it as an attractive market for sectors like healthcare, tourism, and urban development. With challenges in public debt and labor market adjustments, Spain’s fiscal stability and demographic trends offer unique insights for long-term growth and investment strategies.