The Economist crowns Spain the fastest growing economy in the developed world in 2024 but has the wealth been spread evenly? [Video]

SPAIN has been declared the strongest economy of 2024, topping the OECD rankings for its remarkable economic growth, low unemployment, and controlled inflation, according to The Economist.

The prestigious British publication attributes this success to a booming labour market and high immigration levels, projecting economic growth to surpass 3% this year. 

This cements Spain’s role as the economic leader of a resurgent Mediterranean, alongside notable gains in Greece and Italy.

Unemployment in Spain has fallen to its lowest level in over a decade, a trend echoed in neighbouring Southern European countries. 

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The Economist also highlighted Spain’s ability to maintain stable core inflation, avoiding the spikes seen in the UK and Germany.

While not leading in financial market performance, Spain’s relative stability contrasts with the downturns seen in other nations. 

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