Not only is Spain the fourth-biggest country in the European Union by population, but it also has strong linguistic links to most of Central and South America; so it isn’t surprising that Spain is an exciting place for international businesses to grow into as they strive for global presence.
Spain’s economy has been through a lot since it returned to democracy just over four decades ago. It was particularly badly hit by the global financial crisis of the late 2000s, and the onset of the COVID-19 pandemic put huge pressure on its large tourism industry, with millions of annual visitors unable to travel. However, having invested so much in modernisation and infrastructure, Spain is well-placed to recover and thrive in the years ahead.
Today, Spain enjoys a good economic mix, beyond its obvious tourist appeal. It’s a major manufacturer of cars and related automotive products, a significant exporter of medical supplies, and a key conduit for fruit and vegetable sales across the European Union. Add in a relatively low-wage society, with employees in Spain earning on average 40% less than their French counterparts – and the opportunities to build a profitable business footprint in Spain are clear.
This guide focuses on all things payroll in Spain, and what you need to know if you’re looking at expansion in Spain and need a Spanish payroll provider…