The Canary and Balearic Islands will lead the GDP comeback in Spain
The Canary Islands and the Balearic Islands will lead the GDP comeback in Spain with vaccines, tourism and European funds, meaning they can look to 2021 with optimism. BBVA Research estimates that they will be the two autonomous communities that will lead the economic recovery in the coming year, and expects their GDP to grow by around 8.5% and 10.5% respectively.
According to this data, these regions will exceed the national average whose GDP is estimated to grow by 6%. This hopeful news goes further in that all communities will have a positive trend. They will abandon the negative numbers of 2020, which has a national average of -11.5%.
After the aforementioned, following the ranking, Catalonia and the Valencian Community would be placed with an increase of +6.3% in their GDP. Galicia (+6.2%), Andalucía (+6.1%) and Aragón (+ 6.1%) would be very close. The regions with the slowest growth, according to BBVA, will be the Community of Madrid (+5.4%), Castilla-La Mancha (+4.9%) and Extremadura (+4.5).
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Images: BBVA Research