- Joined
- Sep 7, 2018
- Messages
- 163
GENERAL INFORMATION
- The economy of Spain is the 5th largest in the European Union. It has suffered significantly during the economic crisis, but economic growth is expected to reach 2.4% in 2019;
- GDP per Capita (USD) is about 31,906 in 2019;
- Euro is the official currency;
- The official language is Spanish (in fact Castilian). However, there are 4 other languages that have official status in the following communities: Basque (Basque Country, part of Navarre), Catalan (Catalonia, the Balearic Islands, Valencia), Galician (Galicia), Aranes (Val d’Aran);
- The largest cities are Madrid, Barcelona, Valencia, Seville, Málaga, and Bilbao.
CONSUMER BEHAVIOR
The economic crisis that started in 2008 significantly damaged the Spanish standard of living. People faced slow economic growth and a high unemployment rate of up to 26.3% in 2013. That is why consumers became more price-sensitive and turned towards discount stores, cheap products, and promotions. Moreover, Spaniards favor more made in Spain products or products that look Spanish. However, while designing creatives, it’s better to use the word “us” or “our country” as it looks more appealing to them.
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