Spain hits new record with 57.6 million inbound tourists to November - an increase of 5%

 

 

Spain was visited by a total of 3.3 million inbound tourists in November, representing a 9.3% increase and 280,000 more tourists. The Canary Islands and Catalonia were the autonomous regions to benefit most this month, with increases of 17.9% and 14.6%, respectively.

Spain has set another all-time record after receiving 57.6 million inbound tourists between January and November, which is a year-on-year increase of 5% according to the FRONTUR survey drawn up by the General Sub-directorate of Tourism Information and Studies of the Ministry of Industry, Energy and Tourism.

Merry Christmas

 

 

VP Advisers wishes you and your family a merry Christmas and a happy new year.

 

We really appreciate your trustness in our firm.

 

See you in 2014.

The VP Advisers Team

Are deductible Christmas dinners and Christmas hampers?

Many companies celebrate Christmas lunchs or Christmas dinners with their employees and there are still companies that give their employees a basket full of food and drink as a gift. Companies will ask the suppliers for an invoice to deduct the expenditure but is correct the deduction of such expenses?

Major Spanish export sectors maintain momentum

 

According to the October Foreign Trade Report, Spanish exports have increased by 6.2% since January to 196.61 billion euros - a new record since these figures began to be registered. The trade deficit fell by 55.9% year-on-year between January and October. In October, exports grew by 1.8% and imports grew by 1.1%.

THE SPANISH ECONOMY TODAY: DEVELOPMENT AND ECONOMIC STRUCTURE.

 

The Spanish economy has amassed significant economic and financial imbalances. The diagnosis and analysis of these issues must be the starting point for the design of a self-consistent economic policy. The imbalances are chiefly located in three fields: financial imbalances, negative growth and severe job destruction. Each feeds upon the other, so creating a negative dynamics that must be reversed.

Broader powers for central bank in the works

 

In an effort to prevent another national financial catastrophe, the government is to pass legislation giving the Bank of Spain and the National Securities Commission (CNMV) broader powers to prevent bank failures and fight illegal market speculation, sources said Thursday.

The need to document sales and services

 

In business as in life often we tend to simplify the maximum we can and especially in regards to paperwork, but too much simplification can bring negative consequences for not clear from the beginning all the points of the business relationship .

A large part of sales and services are agreed verbally. Legally a verbal agreement is as valid as a written one, but it is more convenient to document sales and services to avoid further problems..

Spanish Economic Policy

 

 

The starting point of the design of economic policy must be the identification and analysis of the magnitude of the difficulties faced by the Spanish economy. Prior to the present economic downturn – which has so far prevailed for more than four years – Spain enjoyed powerful growth. The growth of real gross domestic product (GDP) per capita from the mid-1990s to 2007 was higher than the European Union average by 0.5 points. It is indubitable that Spain’s membership of the Economic and Monetary Union and the adoption of the euro were significant growth drivers. However, the absence of cyclical synchrony with the core economies of the euro area and a monetary policy that was overly expansionary for Spain encouraged the emergence of imbalances.

Unemployment falls in November for the first time on record

 

Jobless claims fell for the first time ever in November in the current historical series, which dates back to 1996, as the Spanish economy showed signs of stabilizing after pulling out of its longest recession in decades.

According to figures released Tuesday by the Labor Ministry, the number of people officially registered as unemployed fell 2,475 from October and by 98,909 from the same month a year earlier to 4.808 million.

Special Agreement with he Social Security Office.

 

As a rule, it is an agreement signed voluntarily by the workers with the Treasury General of the Social Security with the aim of generating, maintaining or extending, in certain situations, the entitlement to Social Security benefits, and with the obligation to pay the corresponding contribution payment to their exclusive account.

In other cases, such as the special agreement for companies and workers subject to labour force reduction plans that include workers of 55 years of age or over, the signing of the agreement is enforced by the Provincial Directorate of Labor and the agreement is signed by the company and the worker on the one hand and the General Treasury of the Social Security on the other