- Heavy unemployment
- Country ecumenical strength still solidifying
- Spain consumers are not educated well enough about the benefits of
GDP Growth since recession
Growing number of millionaires
A lot of wealthy tourist
Electrical cars have good perception in spain
- Banking reconstruction resulting economic turn around
- Increased foreign trust
- A demand of luxury products increased
- Luxury cars sell fairly well in spain
- Conservative spending patterns in general
- BMW i3 Currently has the biggest market share of electrical cars in Spain
- Consumers in Spain perceive electrical cars to be extortionately priced
SECONDARY RESEARCH FINDINGS
Spain experienced its largest GDP increase since the 2008 recession. However, debt rose to over 90 percent of GDP in 2013. Spain’s unemployment rate has declined slightly to about 25 percent, and youth unemployment hovers around 55 percent.
Spain generally treats foreign and domestic investors equally. Banking has experienced deep restructuring and a notable turnaround.
The economy is growing again, employment is rising, the banking sector has stabilised and financial markets’ trust in Spain has increased. It is now crucial to build on these accomplishments, with new efforts to enhance growth, boost productivity, further improve competitiveness and get people back to work.”
jobless rate is more than twice the average in the euro-area and the second highest in the bloc after Greece.
The market’s better performance has been supported to some degree by the slight recovery of the Spanish economy, as well as the growing number of millionaires in the country and tourists coming from BRIC markets such as China and Russia.
The importance of baby-boomers as a target audience for luxury players continues to grow. An increasing number of companies are focusing on launching luxury ranges and products to target this demographic.
SPAIN SECONDARY RESEARCH
There is growing interest among international players in opening new outlets in the country, driven by the growing number of wealthy tourists visiting Spain.
The number of luxury brands is increasing as the number of luxury specialist retailers grows in the country, along with the number of new players opening their first stores.
There is consensus among industry players that the conservative attitude towards…