Offsetting the impact of Brexit in Malaga

Offsetting the impact of Brexit in Malaga.
The Junta de Andalucia recommend looking for new markets and offsetting the impact of Brexit in Malaga.
The Andalucian Minister of Economic Transformation, Industry, Knowledge and Universities, Rogelio Velasco, has spoken at the University of Malaga in Marbella, where he recommended that companies diversify their efforts in a bid to offset the impact of Brexit.
Velasco said at the closing ceremony of the Summer Course ‘Post-Brexit: how it affects us’ that: “everyone, including the regional government, has to intensify advertising campaigns for holidays in countries outside our natural sphere, the EU”.
“We have to look for more markets, new markets to compensate for the relative loss of weight of the British economy in Andalucia.”
The Junta de Andalucia forecasts that Brexit and the United Kingdom’s exit from the European Union will hit Andalucia’s Gross Domestic Product by 0.24 per cent by 2030. It is expected that the number of British tourists in the Andalucian community will fall and this will also see Brit spending decline in the area. The Junta predicts that less goods will also be exported from Andalucia to the United Kingdom.
Between January and April this year British tourists spent €15 million, but this is a significant amount less than they spent the year before in the same timeframe, as reported 20 Minutos.
Velasco said: “the UK will continue to be a very important trading and investment partner for Spain, but it will gradually lose relative weight compared to other countries.”
“In this way, companies have to intensify their efforts to diversify geographically” and plan to export goods to other countries.
There is good news for Gibraltar though and the councillor said the Campo de Gibraltar: “is better off today than it was four, five or six years ago, if we measure prosperity and economic activity by the volume of employment.”

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