DEPARTURES SPAIN & PORTUGAL
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Spain and Portugal were plunged deep into economic turmoil during the global recession, but there is light at the end of the tunnel. Colin Ellson is your guide to travelling to and doing business in the Iberian Peninsula
Spain & Portugal
A CHILL economic wind has been blowing across the Iberian Peninsula since the recession began to bite in 2008, with both Spain and Portugal forced to seek relief from their creditors. But for Spain, at least, there was a little light relief
Pictured Valencia's
eye-catching City of Arts and Sciences
in March this year, when the remains of favourite son Miguel de Cervantes, author of Don Quixote, were unearthed at a Madrid convent. He had lain there for almost four centuries since penning the adventures of a gentleman and his squire, Sancho Panza, tilting at windmills (imaginary enemies) and seeking to revive chivalry in La Mancha. Turning aside from what is considered the most influential work of a Golden Age of literature, Spain and its neighbour have been grappling successfully with their less than chivalric problems.
Spain’s GDP rose by one per cent last year, with further momentum forecast in 2015; and having exited its bailout arrangements and introduced austerity measures, Portugal has cut its deficit and is also restoring growth. Good news for UK plc, says UK Trade & Investment
(UKTI), which is forecasting an increase in goods and services to both countries, up from our £14.2 billion to Spain and £2.3 billion to Portugal in 2012. These include opportunities in the fields of energy, education, food and drink and military hardware to Spain; and everything from mining and financial services to tourism and entertainment to Portugal. With a total of 764 flights a week from across the
UK to Iberia, getting there is the easy bit. After which, don’t go tilting at windmills.
➔ THE BUSINESS TRAVEL MAGAZINE 87 THE BUSINESS TRAVEL MAGAZINE 75
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