Bank of Spain warns of risks to tourism sector and conditions necessary to maintain competitiveness

bank spain

BancaMarch: The Governor of the Bank of Spain (BdE) warns of the medium-term risks to the tourism sector and the conditions necessary to maintain competitiveness. Pablo Hernández de Cos spoke at the 10th Tourism Innovation Forum, referring to the importance of an economic policy framework that favours legal certainty. In a context of high growth in unit costs, which particularly affects a labour-intensive sector, coupled with falling productivity, this could harm the competitiveness of tourism. De Cos listed some of the risks, such as increases in the Minimum Wage (SMI), difficulties in finding staff and adapting to new technologies.

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