By Alex Glenn • 19 January 2022 • 8:11
Malaga bounces back: Business creation is booming in the region.
The worst economic moments of the coronavirus pandemic seem to be over and Malaga is bouncing back strongly. Malaga could end 2021 with the highest number of businesses ever being created according to the National Statistics Institute (INE).
On Tuesday, January 18, the latest statistics released showed that up to November the Malaga province had seen a grand total of 5,318 companies created. Compared to 2020 this is a 37 per cent growth in business creation. In 2020 Spain was economically paralysed for months.
Malaga has come in third place nationally for business creation. The region was only beaten by Madrid with 21,776 new businesses being created and Barcelona with 14,220. Malaga beat Valencia which had 5,302 new businesses.
Malaga dropped behind Valencia in previous years, but it has regained its position. According to the INE in Spain, a staggering 92,740 companies have been created up to November. This represents an increase of 30 per cent.
In Malaga, the majority of businesses created can be linked to the tourism sector. The most important segment has been real estate management and brokerage activities followed up by commerce, catering and hotels and then construction.
As reported by La Opinion de Malaga: “The reactivation panorama is also reflected in the number of companies registered with the Social Security. Malaga presented, in this case at the end of 2021, a census of 55,561 companies, a volume already very close to the levels it handled before the outbreak of the coronavirus (around 56,000). Since last March, and coinciding with the end of the state of alarm, activity has clearly started to grow.”
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Originally from the UK, Alex is based in Almeria and is a web reporter for The Euro Weekly News covering international and Spanish national news.
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