CaixaBank Research | Over the coming months, the pandemic will continue to be the major determining factor for the outlook. The immunisation of age groups over 50, which represent 90% of all hospitalisations, is expected to be completed within the next few weeks. With the emergence of new and potentially more contagious strains – such as the Delta variant – rapid progress in the vaccination roll-out will be vital in alleviating pressure on the health system while achieving a sustained revival in economic activity.
The organisation published a report yesterday in which the world economy could lose more than 4 trillion dollars between this year and last due to the impact of the pandemic on tourism, warning that losses in 2021 would be in a range between 1.9% and 2.7% of world GDP. For Spain, this range would be between 1.3% and 2.4% of GDP.
The construction of these facilities is part of an overall plan under which Equinix and GIC will increase their portfolio of xScale data centres with up to 32 new facilities for USD 6.9 billion (EUR 5.783 billion), according to a joint statement. The centres will be divided between Frankfurt (5), Paris (4), Dublin, Osaka, Sao Paulo and Tokyo (3 in each); Madrid and London (2); and Milan, Helsinki, Warsaw and Mexico City, with one data centre in each. Three more data centres will be added to this list and will be announced shortly.
Randstad Research forecasts that the summer campaign will generate 438,550 contracts in Spain, 20.7% more than last year, although still 29.5% below the amount clocked up in 2019. The figure predicted for this year’s summer campaign is on a par with that of 2015, when 437,873 contracts were signed. When the historical series is analysed, it can be seen that, since 2012, the volume of summer contracts has not stopped growing.
Seopan, the employers’ association of large construction companies and infrastructure concessionaires, estimates that public construction tenders in Spain will grow by 41.5% in 2021 to 20.17 billion euros, which would mean almost 6 billion euros more than a year earlier and recover the levels of 2010.Moreover, taking into account the current pace, it calculates that awarding could close the year with an increase of 12.4% to 7.9 billion euros, which would mean 877 million euros more than in 2020 and return to 2011 values.
Portocolom AV | One out of every three pieces of food ends up in the rubbish bin, which is equivalent to around 1.3 billion tonnes of food. That is enough to feed all the undernourished people in the world several times over. In Spain, each person throws away 77 kilos of food a year, 42% of which is generated in households. But food waste is not only a social or humanitarian concern, but also an environmental one. When we waste food, we also waste all the energy and water it takes to grow it, harvest it, transport it. And if the food ends up in landfill and rots, it produces methane, a greenhouse gas even more potent than carbon dioxide.
Randstad Research | Just before the start of the crisis, in February 2020, the number of companies was 1.48 M, i.e. 89,000 more than today. This loss means a drop of 6% in the number of businesses. If the comparison is made with April 2019, in order to avoid seasonality, the situation is even worse, since the fall in the number of companies is 7.6%, with a reduction of 115,014 companies.
The impact of the pandemic on household accounts has been more moderate than that suffered by companies because most of the protective measures implemented by the government have been aimed at the former. In this respect, analysts at Funcas explain that the decline in the gross disposable income of households in 2020 was 3.3%, lower than that of GDP (-10.8%) and consumption (-12%). Meanwhile, the gross operating surplus of companies fell by 18%, the biggest drop in the entire historical series, and their gross disposable income fell by 17%.
Coinciding with Spain’s most important tourism fair, FITUR, PM Pedro Sánchez announced that British and Japanese tourists will be able to enter Spain from today. The UK, however, has not yet included Spain on its green list of safe countries, unlike Portugal. Spain’s main source markets are the UK and Germany, accounting for around 50% of foreign tourists.
Oriol Carreras Baquer (CaixaBank Research | We are all well aware that the impact of the pandemic has varied widely from sector to sector. Those linked to tourism and leisure have suffered disproportionately. At the other end of the spectrum, some sectors, such as agriculture, forestry and fishing, or public administrations, education and health, have seen their activity increase during the pandemic. In this article, we focus on all the other sectors: the ones which, while having been dealt a heavy blow, have suffered less than those hardest hit. We will call them the «intermediate» sectors.