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Tourism after the crisis: where to go

For once, what is urgent has become important. The coronavirus crisis is taking priority over everything in the short run and its consequences could be difficult, particularly for the tourism industry.

Beyond Benidorm

BBVA Research has analyzed developments in the Valencian tourism sector for a number of years, and seen the important changes that it has undergone. The sector generates around EUR 16 billion per year (15% of regional GDP) and is responsible for 290,000 jobs (15% of total employment).

Europe Caught Off-Balance

The eurozone slowed somewhat more than expected in Q4 of last year, with growth shrinking to 0.1% in the quarter. Looking at individual countries, the biggest surprises were the contraction in activity in Italy (-0.3% QoQ) and France (-0.1% QoQ) and the stagnation of the German economy.

Brexit: Alternative logic

The prevalence of highly Euroskeptic ideas in the UK throughout the Brexit process has been a constant surprise in Europe and these ideas are an example of how cultural and political biases are sometimes imposed on economic logic.

A new strategy for the ECB

Christine Lagarde sets off her mandate at the head of the European Central Bank (ECB) with an ambitious goal: completing a review of the monetary policy — the framework that guides the decisions to fulfill her mandate.

Relaxing Tensions in the Global Economy

The two recurring themes that have determined the course of the global economy and represented the greatest sources of uncertainty in 2019 have been protectionist tensions and the threat of a no-deal Brexit.

What is the outlook for the Spanish economy in 2020?

The Spanish economy ends the second decade of the 21st century with a GDP growth rate close to its potential and an unemployment rate of 14.3%. During the last three quarters of 2019, GDP has grown at an annualized quarterly rate of 1.6%.

Major challenges for the new European Commission

Europe's economic situation is stabilizing following several quarters of deterioration caused by the uncertainties surrounding world trade and Brexit. It seems that there is chance of improvement and that the risk of recession has reduced.

The Cost of Complacency

The financial markets enter the final stretch of the year with their eyes set firmly on the trade war and Brexit, meaning that the optimism surrounding the favorable resolution of both matters could be the stimulus that the world economy needs to regain momentum.

The Fed stops for now

Several days ago, and for the third time this year, the Fed reduced the federal funds rate target range by 25 basis points to a range of between 1.5% and 1.75%. It is very unlikely that it will lower rates again in December.

Key Factors in the Global Scenario in 2020

In the past week, the International Monetary Fund's autumn economic forecast has been published with a downward revision of growth on a global level.

Eurozone | Weaker growth in 2H19 on worsening global trade, but also lower domestic demand

EZ GDP growth is expected to slow slightly further to 0.1% QoQ in 2H19. Available data so far show worsening exports, especially those to other EU countries, and industrial output. There are further signs on more moderate consumption and subdued investment despite improving labour market and favorable financing conditions.

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