Spain

Spain is a country located in southwestern Europe on the Iberian Peninsula.

It is a constitutional monarchy organized as a parliamentary democracy, and has been a member of the European Union since 1986.

On January 1, 2002, Spain terminated its historic peseta currency and replaced it with the euro, which has become its national currency shared with 14 other countries from the Eurozone. This culminated the first phase of a period of economic growth, which has kept the Spanish economy growing well over the EU average.

According to the World Bank, Spain's economy is the ninth largest worldwide and the fifth largest in Europe.

As of 2006, GDP was valued at $1.084 trillion according to the CIA Factbook.

Income per capita is estimated at $27,400 in 2006, trailing the major industrialized nations of the G7 and placing Spain at 13th in the European Union.

Unemployment stood at 7.6% in October 2006, a rate that compares favorably to many other European countries, and which is a marked improvement over rates that exceeded 20% in the early 1990s.

The German newspaper Die Welt, stated Spain is on pace to overtake countries like Germany in per capita income by 2011.

Perennial weak points of Spain's economy include high inflation, a large underground economy, and an education system which OECD reports place among the poorest for developed countries.

The real estate boom has had a corresponding rise in the levels of personal debt; as prospective homeowners struggle to meet asking prices. The average level of household debt has tripled in less than a decade. Among lower income groups, the median ratio of indebtedness to income was 125% in 2005.

Despite some of these obvious weaknesses, the Spanish economy is expected to continue growing based on the strengthening of industry, the growth of the global economy and increasing trade with Latin America and Asia.

Spain is a beautiful country with wonderful people.

There are definite investment opportunities available in this historic country.

Research all possibilities to expand your global portfolio.

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