Despite the risks that the current year presents, there are enough positive elements to have a good economic year. This is the opinion of the CEO of Santander Spain, Ángel Rivera, also shared by the participants in the Business Perspectives Forum, held this week at the Palau de la Música, with the attendance of more than 1,500 businessmen, in collaboration with The vanguard.
In his speech, Ángel Rivera baptized 2024 as the year of “geoeconomics”, since the situation is marked by war conflicts in Ukraine and the Middle East, as well as by several elections, including in the world's leading economy, the United States. . Among the positive factors that allow us to think that this could be a good year for companies, he cited the good balance that 2023 has left in both business profits and job creation, in the evolution of domestic demand and in the good recovery of tourism. which is the first economic sector in the country.
The probable drop in interest rates in the summer is a key element that can help to have a good year, as well as the boost that investments from European funds should give. “This year – he stated – is key for the correct management of investment funds. For this, it is very important that public-private collaboration works very well. There must be closer collaboration between public administrations and companies.
Santander, in this sense, is open to intensifying its collaboration with both parties.” In this regard, he recalled that Santander managed 50% of all the ICO loans that were given in Catalonia last year, which demonstrates its vocation to be at the service of companies, to be their partner, to help them in bad times and to support them in good times. “Three out of four Catalan companies – he added – work with Santander. It is a bank with a presence all over the world, but with a very local vocation, which allows it to offer its clients all its capabilities, which are many.”
“The fundamental thing before 2024 – he concluded – is that there is confidence and investment to grow and Catalonia, in this sense, has great opportunities, since there is a lot of talent. I am convinced that we will overcome all the challenges ahead of us this year.”
The mayor of Barcelona, Jaume Collboni, also had a message of optimism for the future. He stated that his objective is to relaunch the city and restore economic confidence to the citizens. “I would like,” he said, “for the small economy of the city to be infected by the confidence and optimism of those of us who are in charge of it and of the economic institutions. Progress, if it is not shared, is not progress. That is why we will not leave anyone behind.”
The mayor highlighted that Barcelona is an attractive city for talent related to technology, biotechnology and the intensive use of knowledge. It also invests in projects such as the expansion of Fira de Barcelona and in urban planning in three areas of the city such as 22aNord, Bon PastorLa Sagrera and the Port Vermell Marina-Free Trade Zone, where one million square meters of affordable roof will be offered. Barcelona, likewise, is capable of attracting major international events. The latest success story is the Copa América, but there will be more. In 2025 Barcelona will be the capital of Latin American culture and the world capital of architecture. “All this – said Jaume Collboni – is done by a city that trusts and is committed to the future. Not only is it supported by good economic data, but it is the city itself that believes in itself.”
Natalia Mas, the Minister of Economy and Finance of the Generalitat, pointed out that the Catalan economy in 2023 has grown by 2.4%, well above what had been forecast, three times above the European average. She acknowledged, however, that in 2024 there will be a certain slowdown, in line with the weakening of the international economy, although she expressed confidence in the positive impact that the expected decrease in interest rates this summer may have.
The economic policy of the Generalitat, as explained, will focus on promoting the competitiveness of traditional sectors and, in parallel, on the commitment to cutting-edge technological sectors, such as semiconductor design, chip pre-production, quantum technology. , advanced therapies in Life Sciences and the new renewable energy sector, such as green hydrogen. For all this, it plans to give a significant boost to public investment, to which 0.5% of GDP will be allocated, at a rate of 1,200 million euros annually. “There has never been so much investment in Catalonia,” he said.
Along the same lines, the General Secretary of Business and Competitiveness of the Generalitat, Albert Castellanos, highlighted that in Catalonia we can be optimistic because there is a wide network of good and solid companies, which make it possible to have achieved the lowest unemployment rate in recent years. fifteen years (8.5%) and have exported for a value of more than 100,000 million euros in 2023.
The director of Institutional Coordination of Santander Spain, Isabel Puig, who provided data from a survey that indicates that European companies begin 2024 with a certain optimism, moderated a debate with the highest business representatives of Catalonia, who also agreed with that opinion. The president of Foment del Treball, Josep Sánchez Llibre, highlighted the great power of Catalan civil society. "I have no doubt," he said, "that Catalonia will once again be at the head of the Spanish economy."
Businessmen, to be competitive, he said, ask governments to respect businessmen and the function they perform in generating wealth, employment and sustaining the welfare state. In Catalonia - specifically, we need a competitive fiscal ecosystem with the rest of the Spanish autonomies and European regions and, likewise, for the Generalitat to effectively promote the expansion of the Barcelona airport to be able to be connected with all continents. We cannot miss this opportunity.”
The president of the Barcelona Chamber of Commerce, Josep Santacreu, said that, despite business confidence, this will be a year of lower growth. He highlighted the forecast of lower interest rates as a positive factor. He especially expressed concern about the drought. “Water scarcity – he added – is a structural problem that should mark the debate and reflection in the coming years, since all studies warn about the progressive desertification of Spain.”
He also warned about the need to improve the management of European recovery funds. “They are a great opportunity,” he said, “but we see that this great opportunity is being lost.” He cited a survey that indicates that only 14.4% of companies have requested the funds and that more than a third of Catalan companies are unaware of their existence. “There are many administrative obstacles,” he said, “that discourage companies, especially small and medium-sized ones.” “This must be a fundamental key year to solve these problems.”
Antoni Cañete, president of Pimec, recalled that small and medium-sized companies generate 73% of employment and 63% of the gross domestic product (GDP). “We are the engine of the economy and everything possible must be done to make this engine work well and at maximum power. To achieve this, we must ensure that small and medium-sized companies are at the wheel of decisions so that all governments, both local, regional and central, legislate with the good progress of this group in mind." Everyone agreed that the great challenge is to increase the size of companies.
Olga Abad, Director of Business and Institutions at Santander Spain, moderated the second panel discussion along with prominent entrepreneurs from Catalonia such as Jordi Morral, CEO of Europastry; Gonzalo Rodés, CEO of Aldea Ventures; Jordi Romero, CEO of Factorial and Mar Alarcón, CEO of SocialCar. All of them agreed to face 2024 with optimism and expressed their confidence in the entrepreneurial ecosystem of Catalonia. They also agreed, however, that Barcelona lacks more capital to bet on the future of innovation. In this sense, Gonzalo Rodés warned that it is urgent to take positions in the face of the three great revolutions that are already here, such as artificial intelligence, quantum computing and synthetic biology, since they will radically change the world as we know it today. “Not betting on it,” he said, “is a big mistake.”
Juan José Bruguera (Colonial), Joaquim Uriach (Palau de la Música), Salvador Alemany (Saba), Xavier Faus (Meridia), Enrique Laca lle (Círculo Ecuestre), Luis Conde (Amrop Seeliger y Conde), Aurora Catá (America´ s Cup Barcelona and director of Repsol), Gerad Esteva (Ufec) and Marco Sansavini (Vueling) were some of the more than 1,500 businessmen attending the event.
The Business Perspectives Forum was opened by Pere Guardiola, general commercial and expansion director of Grupo Godó, who highlighted La Vanguardia's commitment to Barcelona and Catalan companies and, also, recalled that Santander is the most valued Spanish brand in the world . The event was led by Elisenda Vallejo, editor-in-chief of Economy at La Vanguardia. The day was closed by the territorial director of Banco Santander in Catalonia, Sónia Colomar, who reiterated the entity's support for Catalan businessmen. In this regard, she said that the bank achieved 60,000 new clients in 2023 in Catalonia, reaching 900,000, of which 173,000 are companies, most of them small and medium-sized.
