Marbella leading the way to recovery

The good times are coming back to Spain, and Marbella is leading the way. Having gone through one of the deepest and longest recessions in the country’s history, the signs are that not only is the worst firmly behind us, but that businesses and property owners can look forward to the next few years with confidence. And it could be argued that, in Andalucía, Marbella is the engine that is driving the economy upwards.

Latest International Monetary Fund (IMF) predictions forecast a growth in GDP nationally of 3.1 per cent for 2015, a figure that has been revised upwards as the year has worn on. Central to those predictions are the tourism industry and the property market, and Marbella has been doing well in both areas, leading to a definite feel good factor coming back to the town. It is in large part thanks to the entrepreneurial spirit that exists in the area. Owners of small and medium businesses are driving the recovery forwards, with Spaniards and expatriates alike having the confidence to start new ventures again and put innovative business concepts to work.

According to the National Statistics Institute (INE) the number of companies in Marbella, which had shrunk to a modern low of 14,786 by 2013, had bounced back to 15,339 the following year. While we await the statistics for 2015, they are expected to show the recovery in numbers of businesses to continue the upward trend.

INE statistics also show business confidence is returning to the country as a whole, with a 2.4 per cent rise in business owners’ confidence for the next quarter. The contribution of the steadily growing Marbella property market to the local economy cannot be underestimated – with the luxury segment in particular spurring on economic recovery.

Earlier this year, it was reported that the number of property transactions in Marbella was up 28 per cent year-on-year and are now a perhaps surprising 12 per cent higher than the pre-crash 2007 figure.

Additionally, the town hall’s emphasis on attracting high-end tourists and with them the sort of international businesses drawn by their presence would appear to be paying off. Events like the Starlite Festival turn the spotlight on the glamorous side of the town and bring big spenders from all round the world.

It is that sort of high profile, luxury, event that is making Marbella a magnet for investment and gives the town reason to look forward to the future with confidence.

Marbella leading the way to recovery by Nevado Realty Real Estate