This report also treats about the UK citizens living in Spain, being almost one million, and for the 300.000 Spaniards residents in UK. Also, more than 15 million tourists visit Spain every year.
In other words:
- UK represents the first and the biggest source of investors in Residencial properties
- UK represents the first and the biggest source of tourists
In relation to Spanish GDP, loses may vary from 2-4.000 million Euros, and Spain will be forced to contribute in almost 1 million more to the EU budget.
Also, some Spanish regions as Melilla and Murcia will lose European funds for development, with a grave result on these regions’ economy.
Talking about sectors, the most affected will be agro alimentary, motoring and, tourism. Also financing will be really affected, as big Spanish banks, as Santander have essential presence in UK, as well as Iberdrola and Telefonica.
So, we can say that all the essential Spanish sectors will be highly damaged.
As conclusion, Spanish Government position towards Brexit is clear: they definitely expect a “soft” Brexit, not a “punitive” one against UK.
This report must give a “breath” of positivism to Spanish and UK companies with commercial relationship between both countries, and also for those Brits with residence in Spain. The aim from Spain is not leaving so essential actives from Spain affected by Brexit.