Sunday, March 29, 2020
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Brexit to hit local pockets

A report put together in Spain on the impact of Brexit to the economy has judged that Valencia will be…

By Weekender Online , in Back In Britain Spain , at March 13, 2017 Tags: , , , , ,

A report put together in Spain on the impact of Brexit to the economy has judged that Valencia will be amongst the areas hardest hit when Britain finally leaves the EU.  This is primarily due to their dependence on UK tourism as well as other key markets such as housing. The Canary Islands, Balearics and Catalonia are all also identified as areas that will suffer financially for similar reasons. As usual with Brexit, the overall picture is complex and uncertain. With Spain’s farming and fishing industries for example, there may be benefits post Brexit as the UK has always been critical of the EU’s common agricultural policy which Spain benefits hugely from. However the UK is also a major export market for Spanish fruit and vegetables and a sizeable chunk of their fishing fleet operate in UK waters – all of which may change once Britain leaves the EU.