Spain's Economy Outpaces Eurozone Peers with 3.2% Growth in 2024

Spain's National Statistics Institute (INE) reported on March 26 that the country's economy grew by 3.2% in 2024. This growth rate surpasses that of other major Eurozone countries, including France and Italy (approximately 1% growth), and contrasts with Germany's 0.2% economic contraction. The INE report indicates that sectors linked to tourism, such as transportation, hotels, and retail, along with manufacturing and agriculture, drove Spain's growth. The fourth quarter saw an expansion of 0.8% compared to the previous quarter and 3.4% year-on-year.