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The Covid-19 pandemic had grave economic consequences on Spain’s GDP. Tourists only spent €19.7 billion in 2020, which is a drop of 78.5% from 2019 as result of travel restrictions limiting flows of people around the world. Although all countries were affected by the lack of tourism, Spain’s GDP was significantly affected and many job cuts had to be made to keep businesses going. Over 600,000 jobs were lost in 2020 and a further 200,000 in 2021. The effects of the pandemic highlights Spain’s reliance on tourism to bring money into the country with particular regions such as the Canary Islands and Andalucia suffering from empty beaches. La pandemia de Covid19 tuvo graves consecuencias económicas en el PIB de España. Los turistas sólo gastaron 19.700 millones de euros en 2020, lo que supone un descenso del 78,el 5% respecto a 2019, como consecuencia de las restricciones de viaje que limitaron los flujos de personas en todo el mundo. Aunque todos los países se vieron afectados por la falta de turismo, el PIB de España se vio significativamente afectado y se tuvieron que hacer muchos recortes de empleo para mantener las empresas. Se perdieron más de 600.000 empleos en 2020 y otros 200.000 en 2021. Los efectos de la pandemia ponen de manifiesto la dependencia de España del turismo para atraer dinero al país, con regiones concretas como las Islas Canarias y Andalucía sufriendo el vacío de sus playas. The growing popularity of fast-fashion brands in Spain has resulted in the textile industry becoming hugely influential on the economy. Inditex is a multinational clothing company comprising of major brands such as ZARA, Bershka, Massimo Dutti and more. It employs around 50,000 people in Spain and contributes millions of euros annually to the economy (for example €1.87 million in tax contribution in 2019). The company has provided positive recognition of Spain throughout the world through globalising its brands in 93 countries. Whilst the textile industry only accounts for 2.8% of Spain’s GDP, growth of global fashion brands is providing countries such as Spain with much-needed economic security. Another example of countries that are greatly contributing to the Spanish economy is Ferrovial - a major global infrastructure and mobility operator which owns 25% of Heathrow Airport. The company manages many airports and construction projects in the UK and Spain, and it carried out many essential services during the pandemic such as providing aid to the health sector through ambulance transport and hospital maintenance. The influences of global companies are helping to lower Spain’s high unemployment rate as well as financially benefiting the country. Agriculture was the predominant source of Spain’s economy up until the second half of the 20th century and it still accounts for 3% of Spain’s GDP. Given that around half of land in Spain is classified as agricultural area, the country is still reliant on this historical industry to provide much needed income. Unlike many sectors, agriculture contributed 0.5% more to the GDP of Spain in 2020 than it did in 2019. This equated to an added €6.4 billion. Therefore, agriculture is still relied on in Spain as a stable industry especially in exportation of goods such and citrus fruits and tomatoes to other European countries.
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