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Spain dives into deep recession, tourism woes bode ill for rebound
By , MADRID (Reuters) - The coronavirus crisis has pulverised Spain’s economy, triggering its worst recession since the civil war, with collapsed tourism numbers boding ill for hopes of a swift rebound.Hit by one of Europe’s worst outbreaks and strictest lockdowns, the economy came to a virtual halt in March and remained paralysed until the end of June.It shrank 18.5% in the second quarter, a drop so harsh it wiped out all the recovery achieved since the 2008 global financial crisis, figures from the National Statistics Institute showed on Friday.“It’s a war economy,” said one Mallorca...…By , MADRID (Reuters) - The coronavirus crisis has pulverised Spain’s economy, triggering its worst recession since the civil war, with collapsed tourism numbers boding ill for hopes of a swift rebound.Hit by one of Europe’s worst outbreaks and strictest lockdowns, the economy came to a virtual halt in March and remained paralysed until the end of June.It shrank 18.5% in the second quarter, a drop so harsh it wiped out all the recovery achieved since the 2008 global financial crisis, figures from the National Statistics Institute showed on Friday.“It’s a war economy,” said one Mallorca...WW…
Spain slams UK, Germany for advising tourists to stay away
By , , MADRID/LONDON/BERLIN (Reuters) - Spain reacted angrily on Tuesday to recommendations from Britain and Germany that their citizens avoid its islands and beaches because of an increase in coronavirus cases during what should be the height of the tourism season.With advisories piling up on top of a quarantine order from Britain for returning travellers, Spain, which depends on summer visits by sun-seeking northern Europeans, is facing a major blow to any hopes of reviving its economy.Tourism accounts for just over 12% of Spain’s GDP and nearly 13% of jobs. The country lost one million...…By , , MADRID/LONDON/BERLIN (Reuters) - Spain reacted angrily on Tuesday to recommendations from Britain and Germany that their citizens avoid its islands and beaches because of an increase in coronavirus cases during what should be the height of the tourism season.With advisories piling up on top of a quarantine order from Britain for returning travellers, Spain, which depends on summer visits by sun-seeking northern Europeans, is facing a major blow to any hopes of reviving its economy.Tourism accounts for just over 12% of Spain’s GDP and nearly 13% of jobs. The country lost one million...WW…
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