BBVA Research has corrected upward the GDP growth estimates for 2023 in the Valencian Community. Now, the financial institution estimates that the Valencian Community will close the year with a growth of 2.2%, 0.2 percentage points more, "due to the strength shown in the membership data", like Murcia, which is located at 2.1%.
In general, it maintains growth estimates for 2023, placing the increase in GDP for Spain as a whole at 2.4%. In October, its estimates for the Valencian region remained at 2.1%.
For 2024, BBVA Research has revised the GDP increase downward by 0.3 points, placing growth at 1.5%. The revisions are generalized downwards throughout the peninsular territory and only the Balearic Islands and Canary Islands escape this trend.
Likewise, after the slowdown in 2024, BBVA Research predicts an acceleration in activity for 2025, when growth could increase to 2.5%, in line with the recovery of the European Union.
A general improvement is expected due to the advance of domestic consumption and European demand, which will also drag down investment, which will also drag down investment. As a consequence of the above, the communities receiving national tourism will lead the growth, such as the Valencian Community (2.6%), Catalonia (2.7%), the Community of Madrid (2.6%) and Andalusia (2.5%). %)), but also some industrial and exporting companies that have made less progress so far: Navarra (2.7%) and the Basque Country (2.7%).
