Spain's Economic Growth Fuels EU Prosperity Ahead of 40th Anniversary in the Union
Spain's strong economic growth and strategic contributions are enhancing EU prosperity as the country marks 40 years in the Union.
- • Spain is projected to grow around 3% in 2025, contributing 40% of Eurozone growth in 2024.
- • Tourism, dubbed 'blue gold,' significantly fuels Spain's economy and tax revenues.
- • High-skilled immigration fills labor gaps and fuels high-value job creation.
- • Spain's productivity increased 18.6% from 2004 to 2024, leading among EU countries.
Key details
As Spain approaches the 40th anniversary of its accession to the European Union on January 1, 2026, its robust economic performance is being recognized as a key driver of European prosperity. Spain is forecasting a GDP growth rate of around 3% for 2025, significantly outpacing the Eurozone average of approximately 1.5%, and is expected to contribute 40% of the entire Eurozone's economic expansion in 2024.
The rapid growth is being attributed to multiple factors, chief among them the flourishing tourism sector, often referred to as the country's "blue gold," which boosts both businesses and public finances through higher tax revenues. Additionally, high-skilled immigration has played a vital role in sustaining labor markets by filling critical job vacancies in sectors like marketing, consultancy, and architecture. In 2025 alone, Spain generated over 73,000 high-value jobs—more than double the employment created in hospitality.
Spain's economy currently operates about 4 to 4.5% below its potential, suggesting a sustainable growth path compared to pre-2008 economic crisis levels. Furthermore, Spain boasts the highest productivity growth among major EU economies, with an 18.6% rise from 2004 to 2024, supported by a highly educated workforce and innovative use of artificial intelligence in business. These factors underpin expectations of rising wages aligned with productivity gains.
Roberta Metsola, President of the European Parliament, hailed Spain's integration into the EU as "a great success story" and underlined Spain's role in making the Union "stronger, more prosperous, and more solidary." She emphasized Spain's positive impact over these four decades, reinforcing the country's importance not only within the EU but as an engine for European economic strength and cohesion.
This milestone anniversary thus highlights Spain’s journey from its challenges as part of the former PIGS group to becoming a fundamental contributor to EU growth, setting a promising trajectory into the future.
This article was synthesized and translated from native language sources to provide English-speaking readers with local perspectives.
