The European Union has several countries with various economic values. As known members of the EU, Germany, and Spain remain 2 of the most sought-after travel and immigration destinations. As a result,companies in these regions are moving into the travel and holiday industry to cater to the needs of these visitors. In order not to get confused, you could check out customer’s reviews on the companies in this sector at opinionesespana, after which you will make your decision on the most suitable company that will serve you.
Beyond acting as tourist centres, the economic value to these countries is important. This is because it is a great determinant whether to start a business there or to let it remain as just a visiting destination. The popular question then remains ‘how strong is the economy of these two countries?’
How different are these economies?
Germany is ranked the 4th largest economy in the world and the largest in Europe. The country derives its growth from being the leading exporter of machinery, vehicles, and chemicals. It also has a strong base of highly skilled labour. In terms of exports, Germany is rated 3rd which makes it 5 times better than Spain. It ranks 5th in GDP terms, making it 3 times better than Spain and it has a per capita ratio of $34,065.12 per capita as against the $33647 per capita ratio of Spain making it 1% more than Spain.
Germany has an unemployment rate of 5.5% while that of Spain is at a value of 25.1%, making Spain one of the EU countries with the highest unemployment rate. In terms of service provision, Spain is ranked higher than Germany at 70.7% rate as against Germany’s value of 68.6%.
In terms of tourism, Spain is known to be the better choice as it ranked 2 times higher than Spain for the number of visitors. As a result of the unequal wealth distribution, Spain is 40 times more than Germany in their richest quintile to poorest quintile ratio. Spain places more focus on its agricultural sector with its figure 4 times more than Germany who places more of its focus on trade and foreign exchange of machinery, vehicles, and chemicals.
Other factors such as the skilled labour-power, exchange rate per capita, gross domestic savings rate, and many other economic growth determinants have Germany producing a better value than Spain. As such, Germany is known to have a far stronger economy than Spain which is also not entirely bad by itself.
Although Germany’s economy is known to be a lot stronger and also richer than Spain’s economy, there is however a high rate of unequal distribution of this wealth in the country. As such the wealth of the country is clustered to a particular region and set of people. Compared to Spain, this is a negative factor. Spain has a better wealth distribution, thereby reducing the cost of living in the country to a large extent.
Having the right information when trying to make a decision, especially one as important as migrating is very important. The economic value of the intended country will definitely involve you at one point or the other. Therefore it is better to be aware to avoid possible uncertainties.