The economic transformation of Andalusia began in the province of Malaga, according to the Minister of Economy, Finance, and European Funds of the Andalusian Government, Carolina España. She highlighted the development of tourism, cultural industries, and new technologies as key factors in this transformation.

Spain, who participated in an event organized by the professional business association CIT Marbella in the town of Marbella, emphasized that the model in Malaga is being replicated throughout Andalusia, driven by the business sector.

”We are growing above the average, leading the reduction of unemployment in Andalusia, and having the highest number of self-employed workers in Andalusia. Despite the drought, we are experiencing economic growth above the Spanish average. We have more workers affiliated with Social Security than ever before, more companies than ever, and we are breaking records in exports by Andalusian companies and foreign investment attraction,” she stated.

These economic indicators encourage us to continue on this path, added España, who explained that the key economic principles guiding the Andalusian Government’s management are trust and stability, fiscal revolution, management and enhancement of public heritage, administrative simplification, and tools to support businesses, such as Andalucía TRADE.

”In a couple of weeks, the first incentives for companies will be published, totaling more than 280 million euros, within a projected investment of nearly 1 billion euros until 2027,” she noted.

Regarding the economic indicators of Malaga and the Costa del Sol, she highlighted that the number of companies on the Costa del Sol has grown by 10% since 2019, with economic establishments increasing by 9%. ”Marbella, in particular, has seen an 11% increase in companies and a 9.51% increase in establishments since 2019,” she explained.

The Minister also pointed out that tourism is crucial for the economy of the Costa del Sol, continuing to deliver positive results with 13 million tourists in 2023, an 80% hotel occupancy rate, and an average daily expenditure of 120 euros.

Spain also mentioned the productive sectors of Andalusia, highlighting agro-industry and tourism as the main drivers, complemented by efforts to diversify the Andalusian economy, focusing on green hydrogen, renewable energies, and new technologies.