Economy
In 2008, the regional GDP of Catalonia was €216.9 billion ($314.4 billion), the highest in Spain, and per capita GDP was €30,700 – similar to that of countries such as the United Kingdom or Austria. However, it had the fourth per capita GDP in Spain, considerably behind the Basque Country (€34,100), Madrid (autonomous community) (€34,100) and Navarra (€32,900). In that year, the GDP growth was 3.7%. In the context of the 2008 financial crisis, Catalonia was expected to suffer a recession amounting to almost a 2% contraction of its regional GDP in 2009.
In 2011, Catalonia ranked the 50th largest country subdivision by GDP (nominal), just behind Queensland (Australia) and ahead Rio de Janeiro state (Brazil). Catalonia is one of the Four Motors for Europe.
The distribution of sectors is as follows:
- Primary sector: 2.8%. The amount of land devoted to agricultural use is 33%.
- Secondary sector: 37.2% (compared to Spain's 29%)
- Tertiary sector: 60% (compared to Spain's 67%)
The main tourist destinations in Catalonia are the city of Barcelona, the beaches of the Costa Brava in Girona, the beaches of Costa Barcelona from Mataró to Vilanova i la Geltrú and the Costa Daurada in Tarragona. In the Pyrenees there are several ski resorts, near Lleida
Many savings banks are based in Catalonia, with 10 of the 46 Spanish savings banks having headquarters in the region. This list includes Europe's premier savings bank, La Caixa. The first private bank in Catalonia is Banc Sabadell, ranked fourth among all Spanish private banks.
The stock market of Barcelona, which in 2004 traded almost €205,000 million, is the second largest of Spain after Madrid, and Fira de Barcelona organizes international exhibitions and congresses to do with different sectors of the economy.
The main economic cost for the Catalan families is the purchase of a home. According to data from the Society of Appraisal on the 31 December 2005 Catalonia is, after Madrid, the second most expensive region in Spain for housing: 3,397 €/m² on average (see Spanish property bubble).
Read more about this topic: Catalonia
Famous quotes containing the word economy:
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)
“War. Fighting. Men ... every man in the whole realm is in the army.... Every man in uniform ... An economy entirely geared to war ... but there is not much war ... hardly any fighting ... yet every man a soldier from birth till death ... Men ... all men for fighting ... but no war, no wars to fight ... what is it, what does it mean?””
—Doris Lessing (b. 1919)