The year 1977 evokes images of change, freedom, openness and mutual understanding.
Many Spanish people can remember where they were when the recent democratic
history of our country began. Others, because of their age, grew up while
this was being consolidated, or had the good fortune to be born in a modern Spain
that was fully integrated in Europe. For the past forty years, each generation has contributed,
to a greater or lesser extent according to the era in which they were born, to the creation of a
more prosperous and open society. The recent economic downturn that we have endured and
the problems that continue after it have blurred our collective memory. It’s time to recover
that – to remember where we came from and to transmit to the next generation that another
period of advances and integration is possible. In order to do that, it’s necessary to regain our
self-esteem and confidence in our own capabilities. Achieving a better country for everyone is in
our hands, we already proved that 40 years ago.
The socioeconomic balance is a clear reflection that Spain is a success story. Since 1977,
per capita income for the Spanish has doubled in real terms and gone from 76.1% of the EU
average to the current 92%. The incorporation of women in the job market is a reality – their
participation has grown from 28% to 53%. At the same time, the productive model has been
through a process of tertiarisation , as in the rest of the advanced economies, with the service
sector accounting for 75% of employment (42% in 1977). Exports have increased from 13.3% to
33.1% of GDP, highlighting the role of Spanish multinationals, some of which are world leaders.
Integration in the European project boosted foreign investment attractiveness and provided
our economy with greater price and interest rate stability. In conclusion, Spain’s current economy
is more competitive and open to the world.
The Maghreb region stands at a strategic crossroad today. It can embark on a path of reform and prosperity by transforming its rich natural endowment and human capital into inclusive economic growth. Moreover, the region’s geo-strategic situation positions it at a key junction of global trade. In order to contribute to the existing efforts towards the utilization of these potentials for growth in the region, the study at hand thus aims to give concrete recommendations on structural reforms to stimulate potentials for economic growth and inclusive development.
Authors: Hedi Larbi and Lars Christensen
Making Tunisia the 'SiliconValley' of the Maghreb.
Youth unemployment remains a major challenge of the Tunisian economy. Lack of access to decent jobs represents a major difficulty particularly for Tunisian graduates. In order to foster socio-economic development as well as creating sustainable job creation it is necessary to strengthen the private sector and facilitate the creation of new enterprises. However, starting a business requires as much financial and managerial knowledge as it doestechnologicalandmarket expertise.While many Tunisians have technical skills, they lack entrepreneurial skills. In order to address these challenges this policy briefs suggests investing in the creation of innovation laboratories and co-working spaces as well as designing a new legal framework that can facilitate entrepreneurial procedures.
Agriculture: working toward a new political paradigm in Tunisia
Jobs for Tunisia?is a project developed by the Maghreb Economic Forum with the aim of exploring opportunities for job creation in three strategic sectors: Agriculture, Information Technology and Renewable Energies. At the
core of the project are a series of workshops and round-tables held in different
regions of Tunisia and through which experts have developed key policy recommendations.
The 2016 International Expert Workshop for ‘Employability in Agriculture, Renewable Energies and IT in Tunisia’, held by the Maghreb Economic Forum (Tunis, 27-30/07/2016), was a three days discussion among high-level experts from Tunisia and around the world. (See list of participants and bios of the experts). The workshop was the final component in a series of four workshops held by the MEF on the same subject throughout the year, in three regions of the country: Tunis, Gafsa and Tataouine. The workshop focused on the role of multilateral organizations, foreign foundations and international experts in providing guidance throughout Tunisia’s socio-economic transition towards inclusive growth. In order to prevent this long-term process from failing, we must identify the major obstacles standing in the way of large- scale job creation programs and identify new opportunities and innovative solutions.
The key questions raised at the workshop were:
How can the state better identify emerging trends and assess the needs of local communities?
Which structural reforms are needed and which legislative policies are to be drafted by the parliament to tackle the issue of illegal employment in the informal sector and improve informal worker access to
decent work and government protections?
How can executive power close the gap between policies and implementation?
How can leaders from civil society organizations, the media and the private sector exert pressure on
ruling elites to revisit the education system and increase labor market efficiency?
How can the state create an enabling and secure environment to boost employment, promote a
favorable investment climate, improve conditions for start-up founders and enhance trade?
Which best practices and innovative value-added solutions from abroad can be adapted to the
Tunisian context?
Ons rapport identificeert een vijfstappenplan om wereldwijde groei van vacatures te stimuleren.
http://haysoxfordeconomics.clikpages.co.uk/globalreport2011/
The State of Higher Education in the Middle EastWesley Schwalje
This article references a Tahseen Consulting study in which we explored the barriers facing women in entering science, technology, engineering, and mathematics fields in the GCC in an article in Forbes Middle East. The original article is available at http://tahseen.ae/blog/?p=980.
The Knowledge-based Economy and the Arab Dream: What Happened?Wesley Schwalje
Many of the Arab countries may be pursing knowledge-based economic development strategies based on flawed practices from countries perceived to have made successful transitions to knowledge-based economies. Several countries presented as archetypal models of the knowledge-based economy transition face substantial economic development problems, such as record high youth unemployment rates, with tremendous societal implications.
The importation of the knowledge economy concept to the Arab region was accompanied by an emphasis on the welfare of individuals being tied directly to their success in gaining and maintaining higher qualifications and skills which could be sold in the labor market to match high wage employment opportunities expected to be generated by emerging high skill, knowledge-based industries. However, the high wage, high skills jobs associated with knowledge-based industries have not materialized in the region and are increasingly subject to competition from the emergence of low wage, high skill workers in other developing countries.
Human capital development in technical vocational education (tve) for sustain...Alexander Decker
This document discusses human capital development in technical vocational education for sustainable national development in Nigeria. It makes three key points:
1. Technical vocational education plays an important role in human capital development by developing skills that increase productivity and employability, which supports sustainable economic growth and national development.
2. For technical vocational education to effectively contribute to human capital development, institutions must be well-equipped with infrastructure, workshop facilities, and qualified teachers to ensure graduates acquire skills for gainful employment.
3. Nigeria has faced challenges in technical vocational education like insufficient facilities and teachers, but it remains an important way to reduce unemployment and poverty through skills training.
The Maghreb region stands at a strategic crossroad today. It can embark on a path of reform and prosperity by transforming its rich natural endowment and human capital into inclusive economic growth. Moreover, the region’s geo-strategic situation positions it at a key junction of global trade. In order to contribute to the existing efforts towards the utilization of these potentials for growth in the region, the study at hand thus aims to give concrete recommendations on structural reforms to stimulate potentials for economic growth and inclusive development.
Authors: Hedi Larbi and Lars Christensen
Making Tunisia the 'SiliconValley' of the Maghreb.
Youth unemployment remains a major challenge of the Tunisian economy. Lack of access to decent jobs represents a major difficulty particularly for Tunisian graduates. In order to foster socio-economic development as well as creating sustainable job creation it is necessary to strengthen the private sector and facilitate the creation of new enterprises. However, starting a business requires as much financial and managerial knowledge as it doestechnologicalandmarket expertise.While many Tunisians have technical skills, they lack entrepreneurial skills. In order to address these challenges this policy briefs suggests investing in the creation of innovation laboratories and co-working spaces as well as designing a new legal framework that can facilitate entrepreneurial procedures.
Agriculture: working toward a new political paradigm in Tunisia
Jobs for Tunisia?is a project developed by the Maghreb Economic Forum with the aim of exploring opportunities for job creation in three strategic sectors: Agriculture, Information Technology and Renewable Energies. At the
core of the project are a series of workshops and round-tables held in different
regions of Tunisia and through which experts have developed key policy recommendations.
The 2016 International Expert Workshop for ‘Employability in Agriculture, Renewable Energies and IT in Tunisia’, held by the Maghreb Economic Forum (Tunis, 27-30/07/2016), was a three days discussion among high-level experts from Tunisia and around the world. (See list of participants and bios of the experts). The workshop was the final component in a series of four workshops held by the MEF on the same subject throughout the year, in three regions of the country: Tunis, Gafsa and Tataouine. The workshop focused on the role of multilateral organizations, foreign foundations and international experts in providing guidance throughout Tunisia’s socio-economic transition towards inclusive growth. In order to prevent this long-term process from failing, we must identify the major obstacles standing in the way of large- scale job creation programs and identify new opportunities and innovative solutions.
The key questions raised at the workshop were:
How can the state better identify emerging trends and assess the needs of local communities?
Which structural reforms are needed and which legislative policies are to be drafted by the parliament to tackle the issue of illegal employment in the informal sector and improve informal worker access to
decent work and government protections?
How can executive power close the gap between policies and implementation?
How can leaders from civil society organizations, the media and the private sector exert pressure on
ruling elites to revisit the education system and increase labor market efficiency?
How can the state create an enabling and secure environment to boost employment, promote a
favorable investment climate, improve conditions for start-up founders and enhance trade?
Which best practices and innovative value-added solutions from abroad can be adapted to the
Tunisian context?
Ons rapport identificeert een vijfstappenplan om wereldwijde groei van vacatures te stimuleren.
http://haysoxfordeconomics.clikpages.co.uk/globalreport2011/
The State of Higher Education in the Middle EastWesley Schwalje
This article references a Tahseen Consulting study in which we explored the barriers facing women in entering science, technology, engineering, and mathematics fields in the GCC in an article in Forbes Middle East. The original article is available at http://tahseen.ae/blog/?p=980.
The Knowledge-based Economy and the Arab Dream: What Happened?Wesley Schwalje
Many of the Arab countries may be pursing knowledge-based economic development strategies based on flawed practices from countries perceived to have made successful transitions to knowledge-based economies. Several countries presented as archetypal models of the knowledge-based economy transition face substantial economic development problems, such as record high youth unemployment rates, with tremendous societal implications.
The importation of the knowledge economy concept to the Arab region was accompanied by an emphasis on the welfare of individuals being tied directly to their success in gaining and maintaining higher qualifications and skills which could be sold in the labor market to match high wage employment opportunities expected to be generated by emerging high skill, knowledge-based industries. However, the high wage, high skills jobs associated with knowledge-based industries have not materialized in the region and are increasingly subject to competition from the emergence of low wage, high skill workers in other developing countries.
Human capital development in technical vocational education (tve) for sustain...Alexander Decker
This document discusses human capital development in technical vocational education for sustainable national development in Nigeria. It makes three key points:
1. Technical vocational education plays an important role in human capital development by developing skills that increase productivity and employability, which supports sustainable economic growth and national development.
2. For technical vocational education to effectively contribute to human capital development, institutions must be well-equipped with infrastructure, workshop facilities, and qualified teachers to ensure graduates acquire skills for gainful employment.
3. Nigeria has faced challenges in technical vocational education like insufficient facilities and teachers, but it remains an important way to reduce unemployment and poverty through skills training.
Tunisian Minister of Foreign Affairs and Former Head of the UN Commission on...Wesley Schwalje
A key challenge to knowledge-based economic development faced by Arab countries is weak innovation systems. We are honored to have had our research on Arab innovation systems cited by Dr. Mongi Hamdi, former Head, Science, Technology, and ICT at UNCTAD and Head of the Secretariat of the United Nations Commission on Science and Technology for Development (now Tunisian Minister of Foreign Affairs) in his address to the Arab Forum for Scientific Research and Sustainable Development.
African Leadership in ICT and Knowledge Societies: Issues, Tensions and Oppor...Wesley Schwalje
Our work on knowledge-based economies and skill formation is cited in this report by GESCI, established by the United Nations ICT Task, and funded by Irish Aid, Sida, SDC, and Ministry for Foreign Affairs of Finland. Speaking of our institutionalist approach, the report states “There is a demand for profound rethinking of the role of education and training systems and constituent actors inclusive of leadership actors to adapt and respond to skill demands of employers, technological progress and macro trends for knowledge-based socio-economic development (Schwalje, 2011).”
Role of knowledge economy in asian businessamsh Qureshi
The document discusses the importance of knowledge economies in Asia. It defines knowledge economies as economies that rely on knowledge as the main driver of economic growth, with four key dimensions: educated workforce, innovation system, information infrastructure, and economic incentives. It outlines how several Asian countries like China, Japan, and South Korea have transitioned to knowledge economies. It also analyzes empirical studies showing the positive impact of knowledge economy dimensions like education, R&D spending, ICT infrastructure, and good governance on economic growth in Asia. The document concludes that for Asian countries to sustain growth, they need large investments in education and building strong knowledge economy dimensions.
11.human capital development and economic growth in nigeriaAlexander Decker
1) The document discusses human capital development and economic growth in Nigeria. It analyzes the relationship between investments in education, health, and skills training (proxies for human capital) and GDP (a proxy for economic growth).
2) The analysis finds a strong positive relationship between human capital development and economic growth in Nigeria. However, Nigeria still struggles with high illiteracy, unskilled workers, and uneven distribution of skilled labor.
3) To promote continued economic growth, the document recommends that Nigeria evolve more effective strategies for developing skills and capabilities across its population. It also calls for improved institutions to align training with the needs of different economic sectors.
Tahseen Consulting’s Work on Knowledge-based Economies in the Arab Word is Ci...Wesley Schwalje
The United Nations University’s Maastricht Economic and Social Research Institute on Innovation and Technology cited Tahseen Consulting's Wes Schwalje's research on knowledge-based economies in analyzing knowledge transfer in the MENA countries.
Women face many challenges in gaining employment including low wages, lack of career opportunities, occupational segregation, and prejudice. In response, some women have pursued professional careers like law and accounting or become entrepreneurs. Strategies to empower women include improving education, training, developing policies to support women entering and advancing in the workforce, and implementing conventions against discrimination. For economies to progress fully, governments must commit to ending gender discrimination in the labor market and enabling women to contribute their potential.
This document introduces the Human Capital Index, which measures a country's human capital development based on four pillars: education, health, employment, and the enabling environment. The index takes a holistic and long-term view of human capital, incorporating indicators related to early childhood development, working age population, and older population. Country profiles are also included to provide contextual factors and allow for comparisons across different regions and income levels. The goal is to better understand and address challenges to developing a healthy, educated, and productive workforce.
Economic growth and human development effect of globalization in nigeria evid...Alexander Decker
This document summarizes an article that empirically investigates the effect of globalization on economic growth and human development in Nigeria from 1999-2011. It uses regression analysis to examine how trade openness, financial openness, and migration have impacted economic growth and human development. The analysis found that globalization has had a more significant effect on economic growth than human development. Trade and financial openness were found to have significant negative effects on economic growth and human development, while net migration rate had a positive effect on economic growth and human development, though the effect on human development was insignificant. The findings suggest exercising caution in embracing liberalization policies and mitigating their negative impacts through diversifying exports, strengthening institutions, and reviving industries.
Active with Latin America and the CaribbeanOECDglobal
The OECD and the Latin America and the Caribbean (LAC) region have a growing and dynamic relationship. In January 2016, OECD members decided to strengthen co-operation with the region through the creation of an OECD LAC Regional Programme, launched on 1 June 2016 at the OECD’s Ministerial Council Meeting, with Chile and Peru selected as the Programme’s co-chairs for 2016-2018.
This brochure provides an overview of the breadth and scope of the work carried out within the framework of this co-operation.
Voor het derde jaar op rij publiceert Hays in samenwerking met Oxford Economics de Hays Global Skills Index. De Hays Global Skills Index geeft de dynamiek weer van de arbeidsmarkten van 31 landen wereldwijd. De index geeft aan hoe groot de druk is op de arbeidsmarkt en hoe goed een land wel of niet in staat is talent te leveren.
Youth report presentation
PRESENTATION OF THE OECD REGIONAL REPORT “YOUTH IN THE MENA REGION: HOW TO BRING THEM IN” Steering Group Meeting of the MENA-OECD Initiative 9 November 2015, Rabat
Romania's intelligence service will need to adapt to major trends expected in Romania by 2030, according to a report analyzing indicators across 183 countries. The report finds that Romania will see a medium decrease in the size of its human resources pool and a significant decrease in quality, with a skills gap emerging. Potential solutions are discussed to address these challenges to Romania's intelligence gathering capabilities.
Graduate unemployment in nigeria entrepreneurship and venture capital nexusAlexander Decker
This document discusses graduate unemployment in Nigeria and proposes ways to address it through entrepreneurship and venture capital. It begins by outlining the high rates of unemployment in Nigeria, including graduate unemployment which accounts for 32% of total unemployment. It then advocates for establishing a venture capital bank to provide loans to unemployed graduates with business ideas to encourage entrepreneurship. Finally, it recommends that universities update their curricula to reflect employer needs and that the government improve infrastructure to support private sector growth and job creation.
The focus of this Issue Brief is to explore to what extent youth volunteerism
contributes to the economic empowerment of young people in Asia and the
Pacific, due to the skills which may have been developed during volunteering.
The Brief is a result of a desk study on volunteering and youth unemployment and
underemployment throughout the region, accompanied by a number of interviews
with current and former volunteers.
The Issue Brief first breaks down the challenges of youth unemployment,
underemployment and informality in Asia and Pacific, as well as rapidly changing
skill requirements, which are barriers for young people entering the labor market.
The Brief moves on to discuss the various forms of volunteering in the region, as well
as the skills volunteers may develop during volunteering. The last section explores
which of those skills are relevant to employability and labor market access for young
people and discovers the benefits of volunteering for youth entrepreneurship.
A number of recommendations are made on employability including but not limited
to the importance of skill needs anticipation and skills development relevant for
labor market access and entrepreneurship, followed by recommendations for
volunteer serving organizations and volunteers themselves. These include, for
example, to design volunteer programmes to empower women and expose them to
new work environments and for volunteers to volunteer more strategically to expand
social capital and networks, which are crucial for finding employment in markets
dominated by informality
ENTREPRENEURSHIP DEVELOPMENT AND UNEMPLOYMENT IN NIGERIAIJM Journal
A number of policy intermediations in Nigeria that were targeted at inspiring and stimulating entrepreneurship development through small and medium scale enterprises have botched. In its place of creating in-country entrepreneurial capacity, entrepreneurs have been converted and become distribution agents of imported goods. This paper argues the development of entrepreneurship and stressed that it has been instrumental in economic growth, balanced regional development and job creation in most vibrant economies, where technology is changing at a faster rate and the product lifetime cycle is dwindling. This paper also looks at Nigeria’s growing unemployment situation and how it increasingly deteriorates the potentials of the country. It emphasizes the prominence and significance of entrepreneurship as realistic machinery for sustainable economic growth and employment generation in Nigeria seeing the experiences of developed nations like Australia, the United States and vibrant economies like China and India.
The document is a communique from the 2018 G7 Charlevoix Summit that outlines agreements on economic growth, gender equality, education, skills training, health, taxation, trade, climate change, and geopolitical issues. Key points include:
- Committing to inclusive economic growth that benefits citizens and removes barriers to participation.
- Endorsing commitments on equality, education for women, and ending gender-based violence.
- Preparing workers for future jobs through lifelong learning and improving vocational training.
- Addressing global security threats like terrorism and pursuing denuclearization of North Korea.
Latin American Economic Outlook 2013 SME Policies for Structural ChangeWesley Schwalje
The Organisation for Economic Co-operation and Development’s Economic Commission for Latin America and the Caribbean cites Tahseen Consulting's research while discussing the impact of workforce skills gaps on small and medium enterprise development.
Project financing for development- Ibrahima Diemejemmeh
I go from the belief that development is first supported by good educational systems that train citizens and decision-makers into a framework that integrates governance.
Connecting policies and actors 2009 EU policies for educationSiegfried WIllems
This document discusses several recent European initiatives aimed at increasing transparency and mobility in education and training across Europe. It discusses policies like ECVET, EQF, and initiatives to increase learning mobility. It argues that these initiatives aim to help learners transition more easily between vocational and higher education and get skills validated. However, it questions whether these initiatives fully address the needs of companies and a changing economy. It suggests career guidance and management skills will be important to help learners navigate a changing job market.
This document discusses the challenges posed by an aging population in Europe from multiple perspectives:
1. The economic perspective sees keeping older workers in the labor force as a necessity due to a shrinking working population. Skills obsolescence among older workers needs to be addressed.
2. The lifelong learning perspective views older adults as another target group for education. Their specific learning needs must be considered.
3. The life balance perspective promotes a view of learning, working and enjoying life at any age, integrating economic, personal and social values across all stages of life.
4. Different strategies are discussed to address these challenges, such as enhancing education opportunities for older adults, and shifting resources more to later life stages
Tunisian Minister of Foreign Affairs and Former Head of the UN Commission on...Wesley Schwalje
A key challenge to knowledge-based economic development faced by Arab countries is weak innovation systems. We are honored to have had our research on Arab innovation systems cited by Dr. Mongi Hamdi, former Head, Science, Technology, and ICT at UNCTAD and Head of the Secretariat of the United Nations Commission on Science and Technology for Development (now Tunisian Minister of Foreign Affairs) in his address to the Arab Forum for Scientific Research and Sustainable Development.
African Leadership in ICT and Knowledge Societies: Issues, Tensions and Oppor...Wesley Schwalje
Our work on knowledge-based economies and skill formation is cited in this report by GESCI, established by the United Nations ICT Task, and funded by Irish Aid, Sida, SDC, and Ministry for Foreign Affairs of Finland. Speaking of our institutionalist approach, the report states “There is a demand for profound rethinking of the role of education and training systems and constituent actors inclusive of leadership actors to adapt and respond to skill demands of employers, technological progress and macro trends for knowledge-based socio-economic development (Schwalje, 2011).”
Role of knowledge economy in asian businessamsh Qureshi
The document discusses the importance of knowledge economies in Asia. It defines knowledge economies as economies that rely on knowledge as the main driver of economic growth, with four key dimensions: educated workforce, innovation system, information infrastructure, and economic incentives. It outlines how several Asian countries like China, Japan, and South Korea have transitioned to knowledge economies. It also analyzes empirical studies showing the positive impact of knowledge economy dimensions like education, R&D spending, ICT infrastructure, and good governance on economic growth in Asia. The document concludes that for Asian countries to sustain growth, they need large investments in education and building strong knowledge economy dimensions.
11.human capital development and economic growth in nigeriaAlexander Decker
1) The document discusses human capital development and economic growth in Nigeria. It analyzes the relationship between investments in education, health, and skills training (proxies for human capital) and GDP (a proxy for economic growth).
2) The analysis finds a strong positive relationship between human capital development and economic growth in Nigeria. However, Nigeria still struggles with high illiteracy, unskilled workers, and uneven distribution of skilled labor.
3) To promote continued economic growth, the document recommends that Nigeria evolve more effective strategies for developing skills and capabilities across its population. It also calls for improved institutions to align training with the needs of different economic sectors.
Tahseen Consulting’s Work on Knowledge-based Economies in the Arab Word is Ci...Wesley Schwalje
The United Nations University’s Maastricht Economic and Social Research Institute on Innovation and Technology cited Tahseen Consulting's Wes Schwalje's research on knowledge-based economies in analyzing knowledge transfer in the MENA countries.
Women face many challenges in gaining employment including low wages, lack of career opportunities, occupational segregation, and prejudice. In response, some women have pursued professional careers like law and accounting or become entrepreneurs. Strategies to empower women include improving education, training, developing policies to support women entering and advancing in the workforce, and implementing conventions against discrimination. For economies to progress fully, governments must commit to ending gender discrimination in the labor market and enabling women to contribute their potential.
This document introduces the Human Capital Index, which measures a country's human capital development based on four pillars: education, health, employment, and the enabling environment. The index takes a holistic and long-term view of human capital, incorporating indicators related to early childhood development, working age population, and older population. Country profiles are also included to provide contextual factors and allow for comparisons across different regions and income levels. The goal is to better understand and address challenges to developing a healthy, educated, and productive workforce.
Economic growth and human development effect of globalization in nigeria evid...Alexander Decker
This document summarizes an article that empirically investigates the effect of globalization on economic growth and human development in Nigeria from 1999-2011. It uses regression analysis to examine how trade openness, financial openness, and migration have impacted economic growth and human development. The analysis found that globalization has had a more significant effect on economic growth than human development. Trade and financial openness were found to have significant negative effects on economic growth and human development, while net migration rate had a positive effect on economic growth and human development, though the effect on human development was insignificant. The findings suggest exercising caution in embracing liberalization policies and mitigating their negative impacts through diversifying exports, strengthening institutions, and reviving industries.
Active with Latin America and the CaribbeanOECDglobal
The OECD and the Latin America and the Caribbean (LAC) region have a growing and dynamic relationship. In January 2016, OECD members decided to strengthen co-operation with the region through the creation of an OECD LAC Regional Programme, launched on 1 June 2016 at the OECD’s Ministerial Council Meeting, with Chile and Peru selected as the Programme’s co-chairs for 2016-2018.
This brochure provides an overview of the breadth and scope of the work carried out within the framework of this co-operation.
Voor het derde jaar op rij publiceert Hays in samenwerking met Oxford Economics de Hays Global Skills Index. De Hays Global Skills Index geeft de dynamiek weer van de arbeidsmarkten van 31 landen wereldwijd. De index geeft aan hoe groot de druk is op de arbeidsmarkt en hoe goed een land wel of niet in staat is talent te leveren.
Youth report presentation
PRESENTATION OF THE OECD REGIONAL REPORT “YOUTH IN THE MENA REGION: HOW TO BRING THEM IN” Steering Group Meeting of the MENA-OECD Initiative 9 November 2015, Rabat
Romania's intelligence service will need to adapt to major trends expected in Romania by 2030, according to a report analyzing indicators across 183 countries. The report finds that Romania will see a medium decrease in the size of its human resources pool and a significant decrease in quality, with a skills gap emerging. Potential solutions are discussed to address these challenges to Romania's intelligence gathering capabilities.
Graduate unemployment in nigeria entrepreneurship and venture capital nexusAlexander Decker
This document discusses graduate unemployment in Nigeria and proposes ways to address it through entrepreneurship and venture capital. It begins by outlining the high rates of unemployment in Nigeria, including graduate unemployment which accounts for 32% of total unemployment. It then advocates for establishing a venture capital bank to provide loans to unemployed graduates with business ideas to encourage entrepreneurship. Finally, it recommends that universities update their curricula to reflect employer needs and that the government improve infrastructure to support private sector growth and job creation.
The focus of this Issue Brief is to explore to what extent youth volunteerism
contributes to the economic empowerment of young people in Asia and the
Pacific, due to the skills which may have been developed during volunteering.
The Brief is a result of a desk study on volunteering and youth unemployment and
underemployment throughout the region, accompanied by a number of interviews
with current and former volunteers.
The Issue Brief first breaks down the challenges of youth unemployment,
underemployment and informality in Asia and Pacific, as well as rapidly changing
skill requirements, which are barriers for young people entering the labor market.
The Brief moves on to discuss the various forms of volunteering in the region, as well
as the skills volunteers may develop during volunteering. The last section explores
which of those skills are relevant to employability and labor market access for young
people and discovers the benefits of volunteering for youth entrepreneurship.
A number of recommendations are made on employability including but not limited
to the importance of skill needs anticipation and skills development relevant for
labor market access and entrepreneurship, followed by recommendations for
volunteer serving organizations and volunteers themselves. These include, for
example, to design volunteer programmes to empower women and expose them to
new work environments and for volunteers to volunteer more strategically to expand
social capital and networks, which are crucial for finding employment in markets
dominated by informality
ENTREPRENEURSHIP DEVELOPMENT AND UNEMPLOYMENT IN NIGERIAIJM Journal
A number of policy intermediations in Nigeria that were targeted at inspiring and stimulating entrepreneurship development through small and medium scale enterprises have botched. In its place of creating in-country entrepreneurial capacity, entrepreneurs have been converted and become distribution agents of imported goods. This paper argues the development of entrepreneurship and stressed that it has been instrumental in economic growth, balanced regional development and job creation in most vibrant economies, where technology is changing at a faster rate and the product lifetime cycle is dwindling. This paper also looks at Nigeria’s growing unemployment situation and how it increasingly deteriorates the potentials of the country. It emphasizes the prominence and significance of entrepreneurship as realistic machinery for sustainable economic growth and employment generation in Nigeria seeing the experiences of developed nations like Australia, the United States and vibrant economies like China and India.
The document is a communique from the 2018 G7 Charlevoix Summit that outlines agreements on economic growth, gender equality, education, skills training, health, taxation, trade, climate change, and geopolitical issues. Key points include:
- Committing to inclusive economic growth that benefits citizens and removes barriers to participation.
- Endorsing commitments on equality, education for women, and ending gender-based violence.
- Preparing workers for future jobs through lifelong learning and improving vocational training.
- Addressing global security threats like terrorism and pursuing denuclearization of North Korea.
Latin American Economic Outlook 2013 SME Policies for Structural ChangeWesley Schwalje
The Organisation for Economic Co-operation and Development’s Economic Commission for Latin America and the Caribbean cites Tahseen Consulting's research while discussing the impact of workforce skills gaps on small and medium enterprise development.
Project financing for development- Ibrahima Diemejemmeh
I go from the belief that development is first supported by good educational systems that train citizens and decision-makers into a framework that integrates governance.
Connecting policies and actors 2009 EU policies for educationSiegfried WIllems
This document discusses several recent European initiatives aimed at increasing transparency and mobility in education and training across Europe. It discusses policies like ECVET, EQF, and initiatives to increase learning mobility. It argues that these initiatives aim to help learners transition more easily between vocational and higher education and get skills validated. However, it questions whether these initiatives fully address the needs of companies and a changing economy. It suggests career guidance and management skills will be important to help learners navigate a changing job market.
This document discusses the challenges posed by an aging population in Europe from multiple perspectives:
1. The economic perspective sees keeping older workers in the labor force as a necessity due to a shrinking working population. Skills obsolescence among older workers needs to be addressed.
2. The lifelong learning perspective views older adults as another target group for education. Their specific learning needs must be considered.
3. The life balance perspective promotes a view of learning, working and enjoying life at any age, integrating economic, personal and social values across all stages of life.
4. Different strategies are discussed to address these challenges, such as enhancing education opportunities for older adults, and shifting resources more to later life stages
The document provides information about a presentation by the group "CURSORS of Business" on Sustainable Development Goals (SDGs). It discusses SDG 10 on reducing inequality, including definitions of different types of inequality, indicators, facts, targets, and suggestions for reducing inequality. It also briefly introduces SDG 11 on sustainable cities and communities, covering indicators, facts, and targets related to sustainable urban development.
All the best things that have happened in Spain over the past 40 years of democracy have been a result of the attainment of our freedom and the achievement of our country’s modernisation, which has been boosted and reinforced through our integration with and commitment to the European project. Since 1977, the
history of Spain has been one of a period of socio-economic progress without precedent as a result of a collective effort. The Círculo de Empresarios feels proud of its contribution to this. Expanding our horizons as citizens and our international alliances as a country has been an excellent decision for the development and strengthening of our democracy and our economy, and in general for guaranteeing social stability. Based on this positive experience, all the progress that our country needs to make will have to be achieved through new reforms, that should be supported by increased integration with and commitment to Europe – a Europe that (aside from Brexit and the disintegrating threats of populism and nationalism) needs to further define its project for the future and reinforce its unity, whilst always respecting diversity. In comparison to previous eras, the Spain of today can count on a sufficient degree of credibility and an array of strengths that will allow it to form part of the select group of countries that is going to lead the Europe of the future. As a result of globalisation, Europe can and should continue to play an important role on the international stage.
At the same time, Spain needs to put together an inclusive plan that mobilises and inspires us, and that provides structure for us all. This should be along the lines of what occurred with the recovery of our freedom and democracy, the development of our welfare state, and our fully-fledged incorporation into Europe from which we had felt (to a certain degree) excluded, up until then.
The document summarizes key points from the UN ECOSOC July 2013 newsletter. It discusses progress made towards achieving the Millennium Development Goals, with some targets likely to be met by the 2015 deadline but uneven progress across regions and issues. The upcoming ECOSOC High-Level Segment will focus on the theme of using science, technology and innovation to promote sustainable development and help formulate a post-2015 development agenda. It will include national reports from various countries on these topics and consider reports from other UN bodies and initiatives.
The document discusses the future of work and key trends reshaping the labor market globally. It notes that lifelong employment is a thing of the past and the concept of work is changing with the rise of new forms of flexible work outside traditional employment relationships. The future of work will be shaped by factors like an aging and more educated global workforce, increasing globalization and connectivity, and the growth of urban areas. This represents a paradigm shift requiring changes to labor market policies and regulations.
The document discusses investing in youth as a strategy for a stronger, cleaner, and fairer world economy. It argues that developing countries have a demographic advantage in their large youth populations. However, this is only a benefit if countries invest adequately in education, employment, and active labor policies for youth. The document stresses the importance of education, skills training, internships, and regulating temporary employment to support youth transitions into the workforce. If done correctly, investing in developing countries' youth could help address global challenges like poverty and migration while fueling long-term economic growth.
[Challenge:Future] Unification of the economic, political and social processesChallenge:Future
My dream job is to monitor and control the unification of economic, political, and social processes by working for organizations like UNESCO or the OECD. I want to travel between countries to identify real problems and create functional working programs to address issues. I aim to make long-term programs that will operate successfully in the future. It is important for society to understand workforce needs, production requirements, and develop plans to control labor movement and guide development. My goal is to be part of making such development plans.
The document discusses the importance and benefits of investing in education. It notes that education is a fundamental human right and key to a country's future success. While education costs money, not investing in education is even more costly due to increased public spending on issues like health, crime, and decreased economic growth. The document also discusses estimates of the economic returns from investing in education, showing education increases productivity and earnings. Overall, the document advocates for the importance of education in developing skilled workforces and competitive economies.
SUSTAINABILITY REPORT 2015ITC LIMITEDFOR ALL OUR TOMORRO.docxssuserf9c51d
This document is ITC's Sustainability Report for 2015. It discusses ITC's efforts towards sustainability and creating sustainable livelihoods through various initiatives. Some key points include:
- ITC has created over 6 million sustainable livelihoods through its businesses and value chains.
- ITC is carbon positive for the 10th consecutive year, water positive for 13 years, and solid waste recycling positive for 8 years.
- ITC's social investments program covers 14 states and 71 districts, focusing on rural communities, production area communities, and partnerships with governments.
- Virtual education is becoming increasingly important as the world undergoes rapid technological changes. Philippine universities must transform and adopt new pedagogical approaches to keep up with these changes and prepare students for a globalized world. The growth of industries like call centers also presents challenges and opportunities for universities to develop skills training programs. While technologies like ICT and online learning can increase access to education, universities still need reforms and support from the government to fully realize the potential of virtual education.
Angola 2013: Private Companies can be the key to changeTheBridgeGlobal
The document discusses Angola, including its government, population, economy, and need for new leadership in Africa. Key points:
- The MPLA party led by President dos Santos has been in power since 1975 and controls the government.
- Angola held its first fully constituted presidential and legislative elections in 2013, with the MPLA winning over 70% of the vote.
- Angola's population has grown from 5 million in 1960 to 19.6 million in 2011, with over half living in urban areas.
- Angola has one of the fastest growing economies in the world, driven by oil and gas expansion, but still ranks low on human development.
- New leadership is needed in Africa to address
The United States Is Known To Have The Largest ImmigrationDawn Robertson
The document discusses three main effects of immigration on the US economy. First, immigrants help increase economic productivity by taking jobs that complement those of US workers. This allows businesses like farms to expand. Second, immigrants open new businesses that create jobs for US workers. Studies show immigration raises wages for native-born workers. Third, while some argue immigrants take jobs, they also expand the labor supply and demand for housing, food and goods, creating more jobs. Overall, economists believe immigration provides long-term benefits to the economy, though some argue short-term losses may occur.
The document discusses the future of work and society's need to understand labor requirements and development planning. It notes that organizations like UNESCO and OECD travel between countries to identify real problems and create functional working programs and plans for the future. Maintaining production and controlling labor movement requires understanding staffing needs and developing plans.
Backing young prople for a better future - Global Millennial SurveyPaul Fabretti
Telefónica’s Chief Operating Officer, José María Álvarez-Pallete introduces the key findings of the Telefónica Global Millennial Survey of adults, aged 18 – 30.
Mr Álvarez Pallete explains what Telefónica is already doing to make a positive impact and how we will use these findings to continue our efforts to empower the next generation. - See more at: telefonica.com/millennials
This document outlines Pakistan's Vision 2025, which aims to provide clarity on Pakistan's long-term aspirations and guide its development policies. It discusses key economic, social, physical, and environmental trends affecting Pakistan and provides recommendations in areas such as investing in human capital, improving governance, boosting investment, increasing tax revenue, and ensuring political stability and continuity of policies. The document emphasizes the need for inclusive growth, investment in infrastructure and priority sectors, regional connectivity, and sustainable resource management to achieve Pakistan's vision.
This document discusses empowering Nigerian youth with 21st century skills. It notes that Nigeria has a young population but high poverty and unemployment. The goal is to equip youth with the skills to be active citizens, workers, and entrepreneurs through education programs. This will promote stability and development. It defines 21st century skills like critical thinking, problem solving, and global awareness. The framework has life/career skills, learning/innovation skills, and information/media/technology skills. The highest ranked job skills are applied abilities to use knowledge, not just basic facts.
1. The document is a dossier published by the "la Caixa" Social Observatory analyzing key issues in education.
2. It begins with an overview of general social indicators in Spain and Europe, then analyzes education indicators, comparing Spain to peer countries.
3. The main articles examine education as a pathway for social mobility, and differences in skills acquisition between immigrant and non-immigrant students, finding that higher education levels still promote social mobility but immigrant students perform worse academically even after accounting for personal factors.
Mercado de trabajo España
Llegada de turistas internacionales España
Financiación al sector privado España
PMIs manufacturas EEUU-Eurozona
Comercio global
Crecimiento de la productividad laboral mundial
Labour market Spain
International tourist arrivals Spain
Private sector financing Spain
Manufacturing PMIs US-Eurozone
Global trade
World labour productivity growth
Comercio exterior España
Cifra de negocios de la industria
Comercio de la UE con terceros países
Producción en construcción Eurozona
Precios de producción EEUU
Economía-a-la-sombra-de-la-geopolítica-Informe-Trimestral-Febrero-2024-Circul...Círculo de Empresarios
Resumen
Situación económica global
La actividad económica mundial ha mantenido cierto dinamismo en los últimos trimestres de manera asimétrica
por regiones, a pesar del impacto de las políticas monetarias restrictivas, la fragmentación de bloques comerciales,
la retirada del apoyo fiscal en un entorno de elevado endeudamiento, la baja productividad y las incertidumbres
geopolíticas.
En este contexto, el FMI prevé un crecimiento mundial del PIB moderado, del 3,1% en 2024* y 3,2% en 2025*,
inferior al promedio de 3,8% entre 2000-19. Asimismo, estima que continúe la moderación de los precios de
consumo, situándose en el 5,8% en 2024*, un punto menos interanual.
Economy in the shadow of geopolitics-Quarterly-Report-February-2024-Circulo-d...Círculo de Empresarios
Summary
Global economic situation
Global economic activity has maintained some dynamism in recent quarters in a regionally asymmetric manner, despite the impact of tight monetary policies, the fragmentation of trading blocs, the withdrawal of fiscal support in a high debt environment, low productivity and geopolitical uncertainties.
Against this background, the IMF forecasts moderate global GDP growth of 3.1% in 2024* and 3.2% in 2025*, lower than the average of 3.8% between 2000-19. It also expects consumer prices to continue to moderate to 5.8% in 2024*, down one percentage point year-on-year.
This document summarizes data from Transparency International's 2023 Corruption Perceptions Index. It finds that over 2/3 of the 180 countries scored below 50, indicating serious corruption issues. Western Europe & the EU had the highest average score at 65 but all other regions scored below 50. Spain ranked 36th globally with a score of 60, placing it 13th among Eurozone countries. Nearly 85% of countries saw stagnant or worsening corruption levels over the past decade.
El documento presenta los resultados del Índice de Percepción de la Corrupción 2023 publicado por Transparency International. España ocupa la posición 36 a nivel global con una puntuación de 60 puntos, por encima del promedio mundial de 43 puntos. La percepción de la corrupción ha empeorado a nivel global en los últimos años y la mayoría de los países obtienen puntuaciones inferiores a 50 puntos, indicando serios problemas para controlar la corrupción, especialmente en África y Oriente Medio.
Desempleo España
Precios de producción en la industria España
Turismo España
Comercio minorista UE
Balanza comercial de bienes Alemania
Balanza comercial de bienes EEUU
Desempleo España
Precios de producción en la industria España
Turismo España
Comercio minorista UE
Balanza comercial de bienes Alemania
Balanza comercial de bienes EEUU
Comercio exterior bienes España
Deuda pública España
Encuesta trimestral coste laboral
Empleos vacantes sin cubrir en Europa
IPC Eurozona
Previsiones económicas China
Spain ranks 21st out of 125 countries in attractiveness for investment and venture capital with a score of 71.4 points, which is 2 points below the average for Western Europe. Countries with Anglo-Saxon legal traditions that have strong investor protections and corporate governance tend to have deeper and more liquid capital markets. While the US extends its leadership as the most attractive country, the gap between other countries is narrowing. Spain's weaknesses are focused on the pillars of economic activity and taxation.
Atracción global de inversión en capital riesgo
LOS PAÍSES DE TRADICIÓN JURÍDICA ANGLOSAJONA, CON FUERTE PROTECCIÓN DEL INVERSOR Y GOBIERNO CORPORATIVO, FAVORECEN MERCADOS DE CAPITALES MÁS PROFUNDOS Y LÍQUIDOS
En 2023 EEUU amplía su liderazgo como país más atractivo, mientras que se reducen distancias entre el resto
Perfil de España
ESPAÑA OCUPA LA 21º POSICIÓN ENTRE 125 PAÍSES CON 71,4 PUNTOS (2 PUNTOS POR DEBAJO DE LA MEDIA DE SU REGIÓN)
Debilidades de España centradas en los pilares de actividad económica y fiscalidad
España, entre los países que han perdido atractivo para la inversión en los últimos 5 años
This document provides a summary of business and economic indicators in Spain and internationally for November 2023. It reports that Spanish GDP grew 1.8% year-over-year in Q3 2023, driven primarily by the services sector. International tourist arrivals to Spain declined 18.8% from January to September 2023 compared to the same period in 2022. Export and import prices in Spain both fell significantly in September 2023 compared to the previous year.
El documento resume datos económicos recientes de España y el mundo. Muestra que los precios de exportación e importación en España cayeron un 2.1% e 8.1% interanualmente en septiembre. El PIB español creció 1.8% interanualmente en el tercer trimestre, impulsado por los servicios. El número de turistas internacionales en España cayó un 18.8% entre enero y septiembre comparado con 2022. En China, los índices PMIs de manufacturas y no manufacturas estuvieron por debajo de 50 en
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
South Dakota State University degree offer diploma Transcriptynfqplhm
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The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
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Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
An accounting information system (AIS) refers to tools and systems designed for the collection and display of accounting information so accountants and executives can make informed decisions.
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
2. A pact for inclusive growth
T
he year 1977 evokes images of change, freedom, openness and mutual unders-
tanding. Many Spanish people can remember where they were when the recent de-
mocratic history of our country began. Others, because of their age, grew up while
this was being consolidated, or had the good fortune to be born in a modern Spain
that was fully integrated in Europe. For the past forty years, each generation has contributed,
to a greater or lesser extent according to the era in which they were born, to the creation of a
more prosperous and open society. The recent economic downturn that we have endured and
the problems that continue after it have blurred our collective memory. It’s time to recover
that – to remember where we came from and to transmit to the next generation that another
period of advances and integration is possible. In order to do that, it’s necessary to regain our
self-esteem and confidence in our own capabilities. Achieving a better country for everyone is in
our hands, we already proved that 40 years ago.
The socioeconomic balance is a clear reflection that Spain is a success story. Since 1977,
per capita income for the Spanish has doubled in real terms and gone from 76.1% of the EU
average to the current 92%. The incorporation of women in the job market is a reality – their
participation has grown from 28% to 53%. At the same time, the productive model has been
through a process of tertiarisation , as in the rest of the advanced economies, with the service
sector accounting for 75% of employment (42% in 1977). Exports have increased from 13.3% to
33.1% of GDP, highlighting the role of Spanish multinationals, some of which are world leaders.
Integration in the European project boosted foreign investment attractiveness and provided
our economy with greater price and interest rate stability. In conclusion, Spain’s current economy
is more competitive and open to the world.
On a social level, we’ve been able to build the Welfare State. In terms of education, the percen-
tage of university students has grown from 3.6% to 28.2% of the population over 16 years of age.
The health system, once fragmented and unequal, has become public and free, offering universal
coverage. At the same time, successive measures guarantee the current standard of living for our
pensioners, especially with the creation of non-contributory pensions. There have been many
other social advances that we have achieved thanks to the growth of the Spanish middle
class and the role it has played.
1
3. 2 • Círculo de Empresarios. A pact for inclusive growth
1977 2017
Total population (number of people) 36,255,708 46,443,249
Immigrant population (number of people) 160 4,549,858
Life expectancy at birth (years) 74.13 82.8
Infant mortality (per 1,000 live births) 16.03 2.6
Fertility rate (average number of children per woman) 2.65 1.3
Nominal per capita income (euros) 1,657 25,028
Real per capital income (constant dollars, 2010) 17,261 31,449
Inflation (year-on-year change) 26.3% 1.5%
Interest rates (Mibor- interbank market) 22% -0.149%
Public debt (% GDP) 13% 100%
Per capita healthcare expenditure
(current dollars PPP - purchasing power parity) 204 $ 2,300 $
Per capita expenditure on education
(current dollars PPP - purchasing power parity) 115,78 $ 1,569.84 $
Social expenditure (% of total expenditure) 42% 63%
University students (% population > 16 years of age) 3.6 28.2
Illiteracy rates > 16 years of age (% population > 16 years of age) 9% 1.75%
Illiteracy rates > 65 years of age (% population > 65 years of age) 30% 5.4%
Total active population (million of people) 13.3 22.7
Active female population (% of female population > 16 years of age) 28% 53%
Network of motorways and toll roads (km) 1,100 15,048
Vehicle fleet (cars) 8,269,311 30,122,681
Traffic accident mortality rate (people) 4,500 1,160
Goods and services exports (% of GDP) 13.3% 33.1%
Foreign tourists (million) 34 75.3
Direct foreign investment (million $) 608 26,727
Telephone lines (million)
Fixed line 5.6 > 20
Mobiles … 44.3
4. 3
After a long economic downturn, Spain has recovered its levels of wealth from 2008, and leads
economic growth among the main European nations. However, the recovery hasn’t been enough
to resolve the structural problems that persist today. Added to high levels of unemployment
(especially long-term and youth unemployment), debt and the shadow economy, there is the in-
efficiency of our education system and increases in inequality, population ageing and deterioration
in institutional quality. This is set against a backdrop of a changing world that is more multipolar,
multicultural and fragmented than the one that existed when democratic Spain started its journey.
Therefore, it isn’t only time to reflect on the past but also to prepare for the future. It may
seem uncertain, but it’s also open and offers enormous opportunities as a result of the main
macro-tendencies that we see in the 2030 scenario:
• The movement of the world’s centre of economic gravity from the north Atlantic to the
Asia-Pacific zone, returning to its starting position before the Industrial Revolution when India
and China represented more than 50% of world GDP, not because they were the richest coun-
tries but because Asia was home to 60% of the world population.
• Global population will continue growing until it reaches over 8.5 billion people in 2030, and
the proportion of people over the age of 65 will also increase. As a result of this, the working
age population (between the ages of 15 and 64) will decrease notably in China, Japan and the
European Union, especially in Germany, Portugal, Italy and Spain. The average age for Euro-
peans will be 45.1 in comparison to 33 for the world population (United Nations, 2017).
• Up until 2030, it’s expected that the world middle class will increase by 3 billion people, more
than two thirds of whom will live in emerging markets, principally in the Asia-Pacific zone. This
advance will boost educational and technological levels and innovative capacity. It will also be
mostly concentrated in 40 cities with more than 10 million inhabitants (23 at present) where 721
million people will live (250 million more than in 2014).
• These cities are becoming consumer and decision-making centres, and productive and innova-
tive ecosystems that will progressively modify the current business demography. Until 2030,
7,000 new large companies will appear, of which 5,000 will be in emerging economies, 40% in
China (Mckinsey Global Institute, 2016).
• The advance of digitalisation from disruptive technologies, with greater interconnectivity,
automisation and robotisation, is transforming the concept of traditional employment.
Sixty-five percent of the children who are starting their primary studies now will occupy posts
that we aren’t even aware of today (the World Economic Forum, 2015). Similarly, youngsters
who are currently finishing their studies will have to take refresher courses and acquire more
skills between 10 and 14 times during their professional lives. At the same time, this technolo-
gical revolution is generating the appearance of new markets and business models, in which the
transformation of media, transport and payment systems can already be observed.
• New geopolitical factors will condition the future advance of globalisation with the possibility
that protectionist and isolationist positions will slow down world trade growth. On the other
hand, innovation and greater social awareness will be the key to dealing with growing energy
demands and environmental challenges.
5. 4 • Círculo de Empresarios. A pact for inclusive growth
In this context, generating a new period of economic growth that is more sustainable and
inclusive is in our hands. If we can develop a common, inclusive and motivating project, as
we did four decades ago, and if we regain a climate of confidence, we can support one another
and create cohesion. We will then be in condition to solve the problems that still exist, preparing
ourselves for the world to come.
Círculo de Empresarios, on its 40th anniversary, wants to contribute to a debate on how we
should configure a new country project to remind us of a time of transformation, progress and
unity. In order to achieve that, we’ve summarised the principles for creating a better Spain for
everyone in 4 areas:
• Education should be adapted to the new requirements, knowledge and abilities that citizens,
businesses and the public administrations (AAPP) demand. We’re facing a new socioeconomic envi-
ronment in which the digital transformation will mean that talent gains importance. Young people
must have the appropriate education and capability of adaption so they can look to the future with
confidence and feel capable of fulfilling their lifetime projects. In order to improve the quality of
education and to connect it to the world of the future, it’s necessary to improve the link between the
education and business, paying special attention to the development of dual vocational training,
lifelong training, business entrepreneurial skills and more scientific degrees (STEM).
All educational systems should be designed with the long-term in mind, guaranteeing the princi-
ple of equal opportunities that allows for sustainable and inclusive growth. At the same time, its
quality and capacity for innovation is closely linked to the training, motivation and social recogni-
tion of teaching staff.
The future success of the educational system, and consequently of youngsters, will depend
on a capacity for consensus between political parties, and their willingness to take into consi-
deration the best practices from reference countries, and ideas from social agents (especially the
teaching staff) and civic society as a whole.
• Sustainable and inclusive growth can only be achieved if there is full quality employment. It’s
necessary to allow the greatest possible number of people to benefit from trade, the digital trans-
formation and the period of globalisation that we’re going through. The achievement of this will
not only require reforming the educational system, but also a defence of the market economy and
the role of businesspeople in general. To grow in a stable and inclusive manner requires a business
framework in which there’s a greater presence of medium-sized and large companies, which
have more capacity to innovate and internationalise, and can provide more stable, quality employ-
ment with higher salaries. The creation and the growth of companies will make it easier for the Spa-
nish economy to advance in its process of internationalisation, innovation and digitalisation
in order to compete in a global economic environment with a new system of political, economical,
commercial and environmental forms of governance. It’s necessary to create an ecosystem that
promotes recruitment, the role of proactive employment policies, lifelong training, the creation and
the growth of companies, the attraction of foreign investment and centres of innovation, by levera-
ging our country’s strengths. So, the future quality of employment is conditioned by new significant
advances in terms of our country’s productivity and competitiveness. In order to achieve
this, it’s essential to adapt the regulatory framework and to design an economic policy that is more
6. 5
global and with a greater long-term vision in mind, focusing on the best world practices and
the macro-tendencies that are shaping the future. At the same time, companies, as one of the
key players in the creation of wealth and wellbeing, should assume a new role, leading the creation
of a new social contract. Regaining confidence and social cohesion is a joint task. In order to achieve
it, our companies should opt for long-term growth, environmental sustainability, a remuneration
policy linked to productivity and training for the employment of our youngsters.
• The Welfare State should adapt and respond to the social reality. Spain, along with Europe in
general, is facing, among many other challenges, population ageing, the automation and digitalisa-
tion of employment (and our lives), and the appearance of new social and family circumstances.
As with education, the aim should be to guarantee equal opportunities and, with that, reduce
the risk of poverty and social exclusion. Citizens should feel that our Welfare State provides an-
swers and solutions to social difficulties and necessities, but at the same time they should show
responsibility with regard to the use of social benefits and compliance with their tax obligations.
The new Welfare State of the 21st century should achieve a correct intergenerational balance,
introducing measures that support the birth rate and the incorporation of women in the
labour market, promoting lifelong employee training, maintaining access to healthcare
and social services, and ensuring the viability of the pensions system. Its sustainability is
linked to our level of public debt, competiveness, employment and public administration efficien-
cy, among many other factors. It’s essential that we improve the management of public spending
and the efficiency of the tax system, ensuring budgetary equilibrium over the economic cycle.
• Competitiveness and a country’s welfare are related to the quality of its legal and institutional
framework, essential elements being observance of the law and judicial security. Its inefficien-
cy generates costs that place additional burdens on society in general, which in turn conditions its
dynamism and sustainable and inclusive economic growth. Quality institutions incentivise efficient
behaviour, encourage people to invest and innovate, generate confidence and affection and pro-
mote the creation and growth of companies and increase productivity.
Transparency, and the independence of judicial power and regulatory bodies are the essential
pillars on which institutional quality should be founded, all of which without harming the econo-
mic freedom that is characteristic of countries with a lower level of corruption. In parallel to this,
improvements in institutional quality should boost the leadership capabilities and credibi-
lity of Spain on the European and global stage. We have the opportunity to jointly lead the
future design of the European Union.
With a common and generous vision, Spain and the main European countries should be capable
of joining forces and cooperating to replicate once again a period of progress and welfare
that will correct imbalances and reduce the uncertainty that all periods of transformation genera-
te. We should carry out more on a joint basis, focusing on the major problems that persist in our
country to generate motivation and affection towards the future so that the citizens think that
the world they will leave for their children will be a better one than theirs, and that this feeling is
shared by future generations.
7. 6 • Círculo de Empresarios. A pact for inclusive growth
POSSIBILITIES FOR SPAIN
These days we can count on sufficient strengths to achieve a more sustainable and inclusive
growth. The Spain of 2017, aside from its geographical and cultural advantages, and its mem-
bership of the EU, is full of talent, technical infrastructure and companies with an international
presence. Aside from that, during the crisis, Spanish society showed its solidarity. All these are key
elements to recover cooperation and a reformist momentum that is required to resolve the
problems that concern us all.
If we had carried out the necessary reforms in education, in boosting the dynamism and the
growth of our businesses, and in reducing the weight of the shadow economy, the current so-
cioeconomic situation in Spain would be different in terms of employment, social exclusion
and the sustainability of the Welfare State.
1. Improving the quality of our education system
The impact on unemployment
If Spain had come to an agreement on an education pact with more of a vocational slant, adapted
to the new requirements of companies, we would have reduced the high school dropout rate and
moved towards the EU22 average in terms of our youngsters’ level of studies. More specifically,
among youngsters between the ages of 25 and 34, there would be 1,068,485 more medium-
level vocational training graduates.
If we had a distribution similar to the EU22...
If Spain had a population distribution (25-34 years) by level of studies
similar to the EU22 average...
The number of people with upper secondary vocational training
would increase by 1,068,485
Current scenario in Spain
+ 1,068,485
Upper secondary
vocational training
New scenario based
on convergence
with the EU22
Below upper secondary: 1,862,999 (34%)
Upper secondary: 739,720 (13.5%)
Upper secondary vocational: 630,132 (11.5%)
Tertiary: 2,246,558 (41%)
Below upper secondary: 821,911 (15%)
Upper secondary: 767,117 (14%)
Upper secondary vocational: 1,698,617 (31%)
Tertiary: 2,191,764 (40%)
EU 22: Countries that belong to the OECD
Source: Círculo de Empresarios based on OECD, 2017
8. 7
This new scenario, applying the current rates of employment for our country by educational seg-
ment, would result in a 7.4% reduction in the level of unemployment among youngsters between
the ages of 25 and 34. In other words, more training leads to an increase in employability.
Besides that, if Spain had a more competitive education system, better proactive employment
policies and a job market based on flexicurity, we could have reached EU22 average levels of
unemployment. Consequently, the number of unemployed people between the ages of 25 and 34
would have been reduced by 649,657 people.
The impact on social exclusion
At the same time, if Spain had a distribution by level of studies among the population between
the ages of 25 and 64 similar to the EU22 average and we applied the current risk of exclusion ra-
tes in our country, the number of people at risk of exclusion would fall by 831,823 (10.6% of the total).
An inadequate level of training
has a negative impact
on unemployment
88,056 fewer
unemployed people
If Spain had a distribution
similar to the EU22,
applying its current rates
of unemployment
New scenario
Total unemployed: 1,101,182
Current scenario
Total unemployed: 1,189,238
Activity
rate
Unemployment
rate
Below upper secondary: 554,354
Upper secondary: 144,364
Upper secondary vocational: 132,756
Tertiary: 357,764
Below upper secondary:
Upper secondary:
Upper secondary vocational:
Tertiary:
86%
82%
92%
91%
34,6%
23,8%
22,9%
17,5%
Below upper secondary: 244,568
Upper secondary: 149,711
Upper secondary vocational: 357,865
Tertiary: 349,038
Impact on
unemployment
88,056 unemployed people
7.4% of the total
Source: Círculo de Empresarios based on INE, OECD, 2017
If Spain had a population distribution (25-64 years) with a level of training
similar to the EU22, applying the current rates of those
who are at risk of exclusion in Spain
An inadequate level of training has negative effects on social exclusion
People at risk
of exclusion in Spain
- 831,823
people
New scenario of convergence
with the EU22
Below upper secondary: 4,947,951 (43.9%)
Upper secondary: 1,591,565 (27.6%)
Tertiary: 1,270,604 (13.85%)
Below upper secondary: 2,416,442 (43.9%)
Upper secondary: 3,400,160 (27.6%)
Tertiary: 1,161,695 (13.85%)
Source: Círculo de Empresarios based on INE, OECD, 2017
9. 8 • Círculo de Empresarios. A pact for inclusive growth
If we applied (in the second scenario) the rates in the EU22 for those at risk of social exclusion
for each educational level, the number of people at risk of social exclusion in Spain would be
reduced by 1,701,633 (21.8% of the total).
2. Boosting the creation and growth
of Spain’s businesses
If Spain had passed the 2013 Entrepreneurial Law, taking as a reference point the one that was
passed in France in 2009, we would currently have the potential to create 50% more companies
every year, reaching a figure of 3,439,979.
In France, the Self-Entrepreneur Law created a more flexible bureaucratic framework, allowing
for a simplified social and fiscal regime that could be applied to companies with a volume of bu-
siness below 80,000 euros for retail operations and 32,000 for all other services, and guaranteed
the protection of the entrepreneur’s personal property. All this has generated an average yearly
increase of 70% in the number of companies created.
If Spain had developed a reform similar
to the French Self-Entrepreneur Law,
50% more companies could be created per year
Spanish business law
French
Self-Entrepreneur
Law
Facilities
to create
companies
200
180
160
140
120
100
80
60
40
20
07
20
0
8
20
0
9
2010
2011
2012
2013
2014
2015
FRANCEAUSTRALIAU.K.USASWEDENSPAINPORTUGAL
Low level
of enterprise
creation
Source: Círculo de Empresario based on OECD, 2016
2007=100
Note: Estimated increase for the creation of enterprises of 50% (70% in France)
Source: Círculo de Empresarios based on OECD, 2017
French reform
Enterprise creation
2008
331,439
2009 reform
580,193
2016
554,031
Spanish reform
Enterprise creation
2008
103,565
2013 reform
93,363
(with a reform similar to the French one)
+50% yearly 2014-16
(Approx. 150,000)
10. 9
At the same time, if Spain had reduced the tax, labour and bureaucratic hurdles that prevented
companies from growing, and had adopted measures to diversify sources of funding, facilitating
talent attraction and guaranteeing market unity, we would have more large companies today.
If we had something similar to France’s average company size today, we would have more
medium-sized and large companies. More specifically, 11,603 more medium and 2,534 more
large companies, and the number of exporting firms would increase by 16,6001
. At the same
time, innovative enterprises would increase by 5,1272
.
This speed of company creation and growth would generate approximately 1,100,000 more jobs3
,
of which 48.6% would be created by medium-sized and large companies. For its part, the OECD
claims that the bigger the company the smaller the temporary labour force. More specifica-
lly, in the case of Spain, the existence of temporary work is 44% higher in companies with less
than 20 workers with respect to medium-sized ones (50-249) and large companies (+250).
1. Apart from figures from Cepyme, the following percentages from exporting firms by size have been considered: large (55.7%), medium (40.7%), small
(21.5%) and micro (2.1%).
2. The percentage of innovative enterprises is distributed by size in the following way: large (39.1%), medium (21.9%) and small (8.9%).
3.Calculation based on the average number of employees in Spanish companies (4.6).
Source: Círculo de Empresarios based on INE, Cepyme, Eurostat, 2017
+ 2,534
Business composition
Total: 3,092,218
Large: 4,346 (0.14%)
Medium: 22,797 (0.74%)
Small: 143,749 (4.65%)
Micro: 2,921,218 (94.47%)
New business composition
Total: 3,439,979
Large: 6,880 (0.2%)
Medium: 34,400 (1%)
Small: 161,679 (4.7%)
Micro: 3,237,020 (94.1%)
Exporting
companies
16,600
Innovative
companies
5,127
+ 11,603
At the same time... growth of the average business size similar to the French one
By size...
Impact on employment
+1,100,000 additional direct jobs
+ 500,000 created annually through the current economic cycle
= Reaching a total of 20.1 millon employed people in 2017
Large
33.4%
Medium
15.2%
Small
18.9%
Micro
32.5%
Source: Círculo de Empresarios based on Cepyme, 2017
11. 10 • Círculo de Empresarios. A pact for inclusive growth
To this new employment, we have to add those jobs generated through present economic growth
of 3% (500,000 new jobs annually) to reach the 20.1 million employed people. If this were the
case, the rate of unemployment would fall by 5.9 pp, reaching this new scenario of 11.6% of
the labour force.
With this degree of job creation, not only would we achieve a greater state of inclusion, but also
an advance in the level of productivity, wealth and welfare of the Spanish economy.
Aside from the effect on employment, this new business scenario would mean a contribution to
nominal GDP of 3.5 pp (€43.9 billion) in addition to the amounts generated by the economic
cycle. Of this, 62% would correspond to an increase in the total payroll which would allow us to
reach a final nominal GDP of 1.2 trillion euros.
Source: Círculo de Empresarios, 2017
Impact on unemployment
- 5.9 pp on the unemployment rate
Forecast 2017
17.5%
Including the economic cycle New scenario
11.6%
Active population: 22.73 million
Unemployed people: 2.63 million
Employed people: 20.1 million
Impact on GDP
Through income approach
Nominal: +3.5
pp
+43.9 billion €
In terms of total payroll...
+27.1 billion €
(67% in medium
and large sized companies)
Government forecast
+16.8 billion €
Nominal GDP 2017: 1.16 tn + 43.9 bn 1,2 tn€
Real: +2.2
pp
Note: The Ministry of Economy has estimated an impact of 3 pp on GDP
if we had a business size similar to the European average
Source: Círculo de Empresarios, 2017
12. 11
The growth of business size would increase the wealth of the country and would generate a sig-
nificant tax footprint. Taking into account that in the average elasticity for GDP-tax collection in
our country is 1.54
, Spain would receive additional fiscal revenue of 22.1 billion euros (1.8%
of GDP). Of this, 8.1 billion euros would correspond to revenue from social security contri-
butions. At the same time, the reduction in the level of unemployment would mean a saving of
6.1 billion euros in expenditure on unemployment benefits or assistance.
As a consequence of economic growth, the savings in expenditure policies and the improvements
in tax collection, Spain would abandon the cycle of excessive deficit, reaching an overall budget
position (linked to the 2017 budgetary stability plan) of -0.76% of GDP and a primary surplus
of 1.76% (in line with the OECD recommendation for maintaining a continual primary surplus
of at least 1% in order accelerate the rhythm of fiscal consolidation and a reduction in the levels
of public debt).
3. Reducing the burden of the shadow economy
Our country should make progress with regard to a reduction in the burden of the shadow
economy (17.2% of GDP) because of its negative effects on our capacity to collect taxes
and finance the Welfare State. If Spain had adopted measures to encourage citizens’ tax
responsibility, intensifying the fight against fraud and increasing electronic payments, the level
of our shadow economy at present would be 11.6% (the average for advanced economies with
a less widespread shadow economy than in Spain). As a result of this, nominal GDP would
increase by 64.9 billion euros.
4. Each GDP growth point represents a 1.5% increase in tax revenue.
Effects on the public deficit
And... Primary surplus = 1.76 %
End of Excessive
Deficit Procedure
Unemployment expenditure
The total public deficit would be reduced to... -0.76%
Budget 2017:
23.8 billion €
-6.1 billion €
Increase in tax revenue
22.1 billion €
8.1 billion € corresponding
to the Social Security
Source: Círculo de Empresarios, 2017
13. 12 • Círculo de Empresarios. A pact for inclusive growth
Countries with a less widespread shadow economy have lower average unemployment rates.
Specifically, between 2000 and 2016, the average rate of unemployment in countries with a smaller
shadow economy than in Spain5
was 6.4% (compared to our rate of 16.4%). At the same time, the
shadow economy is less prevalent in those economies with a higher level of institutional quality
and a more straightforward and stable regulatory framework that favours the development of
private initiative.
5. Austria, Belgium, Denmark, Finland, the UK, Germany, France, the Netherlands, Sweden, Switzerland, Norway, Ireland, Australia, Canada, Japan, the USA,
New Zealand
Reduction of the shadow economy to 11.6%
Current scenario
17.2%
New scenario
11.6%
+64,960 billion €
Note: calculated figures on GDP forecast for 2017
Source: Círculo de Empresarios based on F. Schneider, 2017
30
25
20
15
10
5
0
Shadow economy (y axis) Corruption control (x axis)
R2 = 0.7166
RO
GR
ES
IT
CZ
PT
BE
FR
AT
CH
NL
UK
IE
DE DK
SE
FI
50 60 70 80 90 100 110
Correlation between shadow economy (% GDP) - control of corruption (WGI)
30
25
20
15
10
5
0
Shadow economy (y axis) Regulatory quality (x axis)
R2 = 0.6859
RO
GR
ES
IT
CZ
PT
BE
FR
AT
CH
NL UK
IE
DE DK
SE FI
65 70 75 80 85 90 10510095
Correlation between shadow economy (% GDP) - Regulatory quality (WGI)
Source: Círculo de Empresarios based on Schneider and World Bank, 2017
14. 13
In fiscal terms, a less widespread shadow economy would mean additional public income of
24.9 billion euros6
. If we add to that the revenue generated by the previously described new
business structure, this would allow us to reach a fiscal surplus of 1.24% of GDP with positive
consequences for sustainability of the debt and the Welfare State.
At the same time, the impact on employment would be the equivalent of 1.07 million more
jobs and 7,688 million in additional revenue through social security contributions.
SPAIN 2030: A BETTER COUNTRY FOR EVERYONE
In Spain, unemployment is the principal factor that is generating inequality, and is responsible
for 80% of the variance in the Gini income inequality index7
(BBVA Research, 2017). To
guarantee quality employment and generate more inclusive economic growth requires making a
greater commitment to education, the creation and the growth of our companies and a reduction
in the shadow economy.
6. For the purposes of this calculation, Spain’s tax burden has been taken into consideration (38.3%).
7. However, in Spain, the Gini wealth index is 0.65, lower than Demark (0.89), Sweden (0.81), Austria (0.78) or Germany (0.78).
Additional fiscal footprint
Primary fiscal surplus = 3.6%
Unemployment
expenditure
We would have a total fiscal surplus... 1.24%
-6.1 billion €
Increase in revenue
(22. 1 billion €)
8.1 billion (SS)
(elasticity 1.5)
Reduction of the
shadow economy
(24.9 billion €)
7.7 billion (SS)
(38.3% of fiscal forecast)
Source: Círculo de Empresarios, 2017
With a reduction of the shadow economy,
1.07 million jobs would emerge
Reaching a total of...
20.77 million employed people
Source: Círculo de Empresarios, 2017
15. 14 • Círculo de Empresarios. A pact for inclusive growth
In short, the combination of these reforms would help place per capita GDP at 27,373 euros.
At the same time, it would generate additional tax revenue of 47.03 billion euros that would
allow us (provided the level of discretionary expenditure and debt remained constant) to reach
a budget surplus that would contribute to the sustainability of the Welfare State and a greater
degree of social inclusion:
This new fiscal scenario would guarantee the sustainability of the Welfare State – part of our
shared patrimony that we should do our best to preserve and protect. Not only does it consti-
tute a fundamental pillar in terms of social protection, but it’s also aimed at ensuring intergene-
rational equity.
Resolving the problems that persist in Spain and preparing for the future requires us to build
on the past – to reflect on the progress achieved and our current strengths. Building a better
country for everyone requires creating things together again, reaching agreements and regaining
Revenue
% GDP
38.91%
Expenditure*
% GDP
37.67%
Public sector Debt
% GDP
90.6%
*Assuming that nominal public expenditure remains constant
Source: Círculo de Empresarios, 2017
1,300,000
1,250,000
1,200,000
1,150,000
1,100,000
1,050,000
1,000,000
Annual enterprise
creation
Business size* Reduction of the
shadow economy
M€
*Including companies created and consolidated between 2014-15
Source: Círculo de Empresarios, 2017
The total impact of the reforms
would mean 109 billion €
New nominal
per capita GDP
27,373 €
The impact on GDP size if Spain had carried out the reforms...
NOMINAL GPD REFORM IMPACT
16. 15
confidence in our capabilities. It’s time for dialogue, for overcoming differences and for agreeing
on the reforms that will allow us to achieve a more sustainable and inclusive growth. But it’s
also time to adapt our country to the future world, aiming for competitiveness, talent and the
reinforcement of our prominence in the future European project.
If we travel along this path together once more, the Spain of 2030 will be the result of an ins-
piring common project. Consensus, cooperation, solidarity, change and opening up once more
will allow us to reach a new socioeconomic situation. Together, we can create another period of
modernisation, progress and social cohesion by looking back to the way we transformed Spain
forty years ago.