BoT 613

Business over Tapas

A digest of this week's Spanish financial, political and social news aimed primarily at Foreign Property Owners:

Prepared by Lenox Napier.  Consultant: José Antonio Sierra

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January 1 2026            Nº 613          ¡Feliz Año Nuevo!

 

 

 

Editorial: 

Gracious me, I’ve been writing editorials and content for Business over Tapas since January 2013. Some of them political, others useful, and then there were a few comic ones too.

Right now, it’s a fresh new year and hopefully our friends Bibi, Donnie and Vlad (and various others, needless to say) will make appropriate resolutions to reign in their evident enthusiasm for death and destruction.

Here in Spain, we see that none of our political parties are doing particularly well, with scandals emerging from the woodwork: normal I suppose when one is in the public eye for a spell. I think Feijóo will be the first to go, but we shall see.

I was in Granada over Christmas staying with the in-laws. On the Thursday, Christmas Day, a group of fourteen of us from three generations found ourselves enjoying a noisy lunch in a gigantic hanger of a restaurant located in the suburbs and filled with families. Me and the Spanish granddad, both of us stone deaf, smiling and winking gamely at each other over the fish as the rest of the comensales helped to contribute to the ambient cacophony. 

Granada remains my favourite city, and I am glad that one of my American granddaughters will be moving there to study from this Easter. This will give me the perfect excuse to drive up the motorway now and again to visit.

New Year’s Eve in a noisy affair here, with fireworks, the explosion of champagne corks and the occasional screech as someone is pushed fully dressed into the pool.

The best place for me to be on these merry occasions is safely in bed with a good book. 

I’ll continue sending out my newsletter for at least another year or two, God willing, as it is fun to research and write. Also, I extend my thanks to those who are kind enough to subscribe and to provide a welcome support to my modest pension. 

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Housing: 

One of the housing issues which is largely untouched is the ‘grandes tenedores’, the large landlords. Google AI describes them as ‘…a natural or legal person who owns more than 10 urban properties for residential use, or a constructed area exceeding 1,500 m² for the same use, although this threshold is reduced to five homes in stressed areas…’ These large landlords however currently control only about 5% of the market, or a million homes. Metrovacesa goes into the subject here. 

A major article from The Guardian here: ‘Barcelona and Madrid have very different ideas on tackling Spain’s housing crisis. Which will succeed? While the country’s capital is loosening regulations, the Catalan city is strengthening social housing. Their outcomes will affect all our futures’. The two cities are contrasted with ‘Madrid: a red carpet for the wealthy’ and ‘Barcelona: a city fighting back but struggling to win’.

We read (as above) of ‘The Great Housing Grab’. ‘While Spain’s economy continues to grow on paper, the reality on the ground tells a different story – one of worsening inequality and housing exclusion. In the past decade, more than half of all homes have been bought without a mortgage, a sign that many are being acquired not by those in need of housing but by those who already own property. The number of people who own at least 10 homes has jumped by 20%...’ 

Are los okupas – squatters – really a problem as we insist? A housing expert is emphatic about the "problem" of squatting in Spain: "It's a marginal issue," he says. El Huff Post has the interview with Javier Burón, the Housing Manager of the city of Barcelona from June 2015 to July 2023, here. 

‘Being the owner of a piece of land does not give the right to install a prefabricated house on it, not even a caravan. These required certain municipal permits and doing so without them can lead to legal problems, even having to uninstall them…’ From El Huff Post here. 

Property Wire has ‘Seven things expat residents hate about the Costa del Sol’. 

YouTube has ‘3000 Spanish Villages are uninhabited - I drove deep into the Empty Spain’ from James at ‘Unfiltered Spain’. (Thanks to Jake for this one.) 

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Tourism: 

Tourism is a massive injection of capital for Spain, with tourism apparently bringing in some 200,000 million euros in 2024 (says El País appreciatively) and providing 12.6% of the GDP. One should bear in mind that this includes domestic tourism. International tourism is also supported by record figures. ‘In 2024, Spain received 93.76 million foreign tourists, 10% more than the previous year. Spending by these visitors amounted to €126,143 million, a figure that is expected to be surpassed in 2025, given that €118,600 million had already been accumulated by October. This is further supported by the significant increase in average daily spending per person, which has risen from around €140 in 2019 to nearly €200 so far this year. The recovery of tourism's contribution to GDP also had a direct impact on the labour market. In 2024, employment in the sector's characteristic economic branches reached 2.78 million jobs, representing 12.3% of the total Spanish economy, one-tenth of a percentage point higher than in the previous year’. 

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Seniors: 

The DGT – the traffic authority – says it won’t take away driving licences from Seniors because of their age, but there are some conditions to be considered says Plusesmas here. ‘Pere Navarro, the Director of Tráfico, has been clear: "Driving licenses will never be restricted based on age." The policy will be to assess abilities and, when appropriate, adjust the validity of the license or add restrictions. It's a matter of safety... and of the right to mobility, especially in rural Spain…’ In the end, any restrictions are gauged on a one-to-one basis with the medical examiner. 

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Finance: 

From Forbes here: ‘Spain consolidates its growth and strengthens its position as an economic engine of the eurozone. The Banco de España raises its forecasts for the coming years and is now predicting Spanish GDP growth of 2.9% in 2025, a significant improvement from the previous estimate of 2.6%. For 2026 and 2027, the institution anticipates growth of 2.2% and 1.9%, respectively, further solidifying Spain's position as one of the most dynamic economies in the eurozone’. 

The Financial Times has ‘Government borrowing costs paid by Italy and Spain have fallen to their lowest level relative to Germany in 16 years, as investors reward Rome and Madrid for belt-tightening and grow more worried about surging debt elsewhere in the Eurozone. (…) Strong economic growth in Spain has helped to cut its 10-year spread with Germany to less than 0.5 percentage points. That is also the lowest since before the Eurozone crisis, when high debt loads drove up both countries’ borrowing costs and stoked worries about the currency bloc breaking up…’ A photo of Pedro Sánchez has the tag: ‘The Spanish Prime Minister is leading the world’s fastest-growing large advanced economy for the second year running in 2025’. 

El Mundo appears to criticise the spending on pensions. ‘Pension spending now equals the revenue of the entire Spanish tourism industry in its record year’. The money spent by the state on pensions will circulate within the economy and be taxed through IVA and other ways. It’s hardly the kind of funds which will end up in offshore financial centres. We read: ‘The Social Security has increased contributions by 6.2% this year and has decreed further increases for 2026. "The system could generate expenses of €300,000 million in 2031." The tourist sector in 2024 provided 209,000 million euros says the article. Spain has around nine and a half million pensioners. 

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Politics: 

Two issues have dominated the news recently, the election result from Extremadura and fresh revelations about the handling of the Valencia floods in October 2024.

Extremadura went to the polls on December 21st. The issue was that the president Maria Guardiola (PP) couldn’t get her budget through with both the PSOE and Vox proving to be intransigent. In the event, the PP gained one seat, Vox took another six, the far left got another three and the PSOE bombed with a loss of ten seats. However, as before, the PP doesn’t have a majority and must either sit with the Vox or with the decimated PSOE. From The Corner here: ‘…the President of Extremadura has slightly improved her 2023 result and will be able to continue governing the region. However, she cannot escape the pressure from the far-right, which has surged spectacularly in an autonomous community that has traditionally been a PSOE stronghold…’ A suggestion for the PSOE to abstain and allow Guardiola a free run is highly against the odds. El Mundo has more on Vox’ demands in exchange for their abstention. El Plural says ‘Extremadura returns to square one: everything Vox demands of Guardiola to govern. The far right's demands for abstention have hardened following its surge in the elections’. Following the disappointing results, the defeated PSOE candidate duly fell on his sword.  The next regional elections will be in Aragón on February 8th.  

From Público here: ‘Carlos Mazón's WhatsApp messages to Feijóo on the day of the Valencia floods undermine the version defended by the PP for over a year. The PP leader was not informed "in real time" of what was happening there, as he claimed two days after the tragedy, and the WhatsApp messages also demonstrate that his reproaches over the central government's "abandonment" were unfounded. Mazón lied before the congressional committee when he said that "nobody knew that people were drowning (...) until 5:00 a.m. the following day." He had already informed Feijóo, at 11:25 p.m. on October 29, that there were "deaths in Utiel (inland Valencia)." The PSPV is considering filing a complaint against him for perjury (…) Feijóo has not yet submitted his part of the conversation but says he is willing to "cooperate with the justice system". The timing is irrelevant now. What has come to light so far demonstrates that both he and his party have been campaigning since the day after the tragedy, relying on a spiral of lies and half-truths…’

elDiario.es adds that ‘Feijóo tries to avoid testifying in Catarroja (Valencia) on January 9th before the judge investigating the DANA storm, despite having an empty schedule on the day of his summons’. Público says ‘The leader of the Partido Popular, Alberto Núñez Feijóo, chose Christmas Day to send the judge investigating the DANA storm the messages that Carlos Mazón had sent him on the day of the tragedy, October 29 2024, perhaps hoping they would go unnoticed amidst the Christmas sweets and carols. However, on a day devoid of other political news, the WhatsApp messages, which expose the lies that the far right and the PP have been spreading about the handling of the disaster for over a year, have fueled the controversy, and this week they have dominated much of the television news and social media conversations.’ El País says here, ‘The judge in the DANA case agrees to let Feijóo testify via videoconference and offers him the option of handing over his WhatsApp answers to Mazón. The PP leader says that if the judge requests them, he will hand them over’. 

From 20Minutos here: ‘The Deputy Secretary for Finance, Housing, and Infrastructure of the Partido Popular, Juan Bravo, predicts in a radio interview that his party leader, Alberto Núñez Feijóo, will remain in power for "two or three terms" and will make decisions "with foresight," in contrast to the short-sighted approach he observes in current politics. In the interview, Bravo advocated for a "longer-term vision," especially when addressing decisions about pensions, healthcare, or aging, which "today’s politicians may not see coming."’ 

I wrote an article about ‘Antifa’ and its apparent presence in Spain at BoT Backup here. 

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Gibraltar: 

Officials have finalised the legal text of a post-Brexit treaty covering Gibraltar’s relationship with the EU, says The Portugal News here. ‘It outlines new terms for Gibraltar’s European relationship and will now undergo legal review before formal procedures and signature. The treaty would abolish the historic Fence of Gibraltar (‘La Verja’) as part of establishing the future relationship. The agreement covers indirect taxation, labour rights, state aid, environmental protection, trade, sustainable development, anti-money laundering, and transportation’. 

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Europe: 

From elDiario.es here: ‘A new and larger Global Sumud Flotilla will return in spring 2026 with 100 ships and 3,000 personnel bound for Gaza. Its objective now is not simply the delivery of humanitarian aid but rather in establishing a sustained and specialized civilian presence in the Palestinian territories’. The Guardian here: ‘Israel to ban dozens of aid agencies from Gaza as ten nations warn about suffering’. 

El País brings ‘Europe on high alert amid Trump's strategic onslaught. Signs of US hostility, such as threats to Greenland, sanctions against prominent figures, and the new security strategy, are raising tensions in a Europe still dependent on Washington’. 

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Health: 

From Spanish News Today here: ‘Longer waits, growing frustration as confidence in Spain’s public healthcare slips. A new national survey shows specialist delays stretching beyond four months, even as most patients still back the public system’. 

Andalucía: ‘Moreno Bonilla's neglect and budget cuts are jeopardizing the health and lives of Andalusians. Every hidden figure represents a life on hold, a family in uncertainty, and someone forced to pay for a private test out of sheer desperation’. From El Plural here. A similar take is at Cordópolis here: ‘The PP's healthcare privatization: a business to destroy public healthcare’ 

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Courts: 

As we have seen, some court cases go faster than others. From Infobae here: ‘The Montoro case is "on hold" due to the defence's strategy to prolong the investigation: endless appeals requesting annulment or a change of court’. The case refers to the Hacienda ex-minister Cristóbal Montoro, who is ‘…under investigation for repeated offenses of bribery, fraud against the public administration, abuse of power, influence peddling, prohibited negotiations, corruption in business, and falsification of documents for events that occurred between 2011 and 2018, his second term in the PP government…’ Another delayed case – the Caso Lezo – affecting the former president of the Community of Madrid Ignacio González, is examined here. 

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Media: 

La Nueva España has ‘The European far right celebrates Trump's attack on the EU. Donald Trump's declared intention to interfere in European politics paradoxically clashes with the ultranationalism championed by these same forces.’ It says, ‘…Support for Trump varies dramatically from country to country: Italy is among the most favourable (28%), where Meloni is openly supporting him, overtaking what had historically been his closest ally on this side of the Atlantic, the United Kingdom (22%). Support is more moderate in France (18%) and Spain (16%), while Denmark has fallen to a low (6%), according to a recent YouGov poll…’ 

From The Daily Kos here: ‘Trump to Europe: Let every social media site spew far-right drivel (I’ve paraphrased) —or else. The Trump administration is engaged in a full-scale assault on the independence and sovereignty of European countries that dare to try to regulate big tech in a way he doesn’t like…’ 

An idea from The New Statesman here: ‘CEOs are hugely expensive. Why not automate them? If a single role is as expensive as thousands of workers, it is surely the prime candidate for robot-induced redundancy’. 

Be of Good Cheer! ‘44 items to begin the year with optimism’ (opinion from El País here). 

A jocose comment on Facebook: ‘No sé si a los progresistas en España nos conviene que dimita Feijóo, porque cualquier alternativa será mejor que él. Por tanto, para nosotros los progresistas es una especie de seguro de vida, y a mí me gustaría que siguira el frente del PP’. Jesús Caldera (Wiki).  

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Ecology: 

Wild boars are an increasing bother in Spain – besides the issue of cases of swine-fever in Catalonia (causing a major crisis in the export of Spanish pork products). The animals, in their search for food, are invading all sorts of new territory including, says The Olive Press, the airport at La Coruña, where ‘flights carrying holidaymakers to northern Spain on Saturday morning were forced to divert after a herd of wild boars ran onto the runway. The airport was temporarily closed after the animals breached the runway’s perimeter, forcing a handful of flights to land at other airports.’ 

‘Spain has so much solar and wind energy that it no longer knows where to store it. Ireland, meanwhile, desperately needs stable sources of green electricity. The solution: an ambitious submarine cable that will connect both countries across the Atlantic. This "electric bridge", which could be operational in 2030, will allow the Spanish renewable surplus to be exported and will reinforce European energy security…’ Item from Energy News here.

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Various: 

Eye on Spain has ‘The King's Speech’ here. ‘For those of us living in Spain—whether as long-term residents, retirees, or property owners—the King’s annual Christmas Eve address is more than just a tradition; it’s a barometer of the country’s social and political climate…’ 

At the eleventh hour, the DGT has pulled back the new insurance, registration and so on for the electric scooters (known as vehículos de movilidad personal) until sometime in the future says El Economista here.  

From El Economista here: ‘The European Union and Canada urge all travellers to carry a disposable phone on international trips’ (no doubt thinking of the USA). And on a similar subject, Xataca has ‘61 European alternatives to Google, X, Gmail, Chrome, Maps, Dropbox, Google Drive, WhatsApp, and other popular services. We bring you the best European alternatives to the leading technology platforms and services for end users.’ 

An odd subject for El Mundo here: ‘Xavier García Albiol: Racism, Neglect, and Cruelty. At Christmas, in the cold and rain, the mayor of Badalona evicted 400 homeless people from an abandoned school in the city, condemning them to live under a bridge. A hundred priests and Christian groups have protested. The mayor says he is satisfied with his 'solution'’. 

‘Pilgrims from all over the world continue to arrive in Ronda to visit the Carmelite Convent in search of the so-called uncorrupted arm of Saint Teresa, which is actually the left hand of the famous nun from Ávila. Next to the central Church of La Merced in Ronda, in the San Juan de la Cruz passage, stands el Convento del Corazón Eucarístico de Jesús de las carmelitas descalzas. The holy relic is kept in a tiny chapel within the Convent of La Merced, and any visitor who wishes to see it need only ask for the key at the turnstile and entrust themselves to the intercession of this highly revered nun…’ From Málaga al Día.

Qingtian is a little-known Chinese city, but key to understanding the Chinese community in Spain. For generations, thousands of people have emigrated from here to our country. That's why it's not uncommon to hear Spanish spoken in its streets, see bars with European names, or find stories that directly connect China and Spain. Video at YouTube here. 

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See Spain: 

Infobae has ‘The world's smallest hotel is in Spain: built on volcanic rock and overlooking the Atlantic. Guests staying at this ship-shaped hotel anchored in the middle of the Atlantic Ocean feel right at home thanks to its size, the hospitality, and the warmth of the staff and owners’. The Hotel Puntagrande (in English here) is on the island of Hierro, Canary Isles. 

From The Smithsonian Magazine here: ‘The oldest restaurant in the world just reached its 300th anniversary. Madrid’s Sobrino de Botín is filled with legends, ghosts and priceless art. The food is pretty good, too’

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Finally: 

Rubén Blades with Pedro Navaja on YouTube here.