Spain and Italy Benefit from Improving Tourism
Holiday countries Spain and Italy seem to be recovering faster than expected from the corona crisis. In addition, southern European countries benefit from the easing of travel restrictions, which has boosted the critical tourism sector.
In addition, the extensive European economic support packages for the countries also help.
Economists polled by the Bloomberg news agency generally expect the countries to show the most substantial economic growth in 40 years this year. In Spain, growth is expected to be 6.2% this year. In Italy, growth of 5.6 percent is forecast.
That is 0.3 and 0.6 percentage points respectively, more than in a poll in July. Last year, Italy's economy shrivelled by nearly 9 percent and Spain's almost 11 percent due to the crisis and tourist flowed dried up to a...