Spain's Economic Momentum Defies Eurozone Trends

Spain's economy expanded by 3.2% in 2024, outperforming euro zone countries. Boosted by tourism, agriculture, and exports, the growth rate exceeded expectations from both the government and Central Bank. Other major economies in the euro zone revised their growth forecasts downward.

Spain's economy has surpassed expectations with a notable 3.2% expansion in 2024, a figure that places it well ahead of its euro zone counterparts.

This growth, buoyed by a burgeoning tourism sector, robust agricultural performance, and increased exports, has led the government to revise its forecast upwards beyond the initial 2.4%.

In stark contrast, other major economies like France and Germany have marked down their projections, highlighting Spain's standout performance as a beacon of economic resilience in the region.

(With inputs from agencies.)