Spain on the up following reports of economic growth
Following a five-year period of economic decline, Spain has become the fastest growing major country in the eurozone throughout 2014. Financial changes brought about since 2009 appear to have re-established confidence and enabled the government to slash borrowing costs to historically low levels.
There has also been a continual fall in unemployment in Spain this year – dropping to 23.7 per cent between July and September – inflation has been easing, and improvements in the banking sector have led to an increase in investment. There are also positive signs of equilibrium within the housing market.
Therefore after a series of gruelling structural reforms, it looks like Spain is back on track towards sustainable growth.
This has been recognised within deVere Spain, part of deVere Group, one of the world’s largest independent financial advisory organisations, which reports an upturn in business in the last two quarters of this year compared to the same time in 2013.
This uptick in our business is largely due to the ongoing soaring demand for our specialist financial advice, as more and more individuals value the importance of sound financial planning to secure their long term financial goals for themselves and their loved ones. Also, of course, the climate and relaxed way of life have long contributed to expats’ love affair with Spain.
Headed up by Senior Area Manager, Andrew Oliver, deVere Spain has five offices located in Barcelona, Costa Blanca, Madrid, Marbella and Palma de Mallorca, as well as the European Communications Centre (ECC), located in Mijas Costa. The ECC is the principal support network for deVere Group’s Western European division and provides essential support to financial advisers and in turn their clients, in the 19 deVere Group offices situated throughout Western Europe.
As Spain continues on the road towards its sustainable economic growth, and as more and more Spain-based expatriates and international investors choose deVere to help them reach their objectives, there are plans to open additional offices in various destinations on the Iberian peninsula within the next five years, as part of deVere Spain’s ambitious expansion strategy. d