Overview of Regional Competitiveness
Recently, two significant reports have highlighted the state of economic competitiveness of the Spanish autonomous communities. The Regional Competitiveness Index (ICREG) 2024, prepared by the Spanish College of Economists, and the analysis of regional GDP have revealed key aspects about Catalonia’s growth and position in the national context.
The Regional Competitiveness Index: An In-Depth Analysis
ICREG offers a comprehensive assessment of the 17 autonomous communities, considering a total of 54 indicators that are classified into seven essential axes: the economic environment, human capital, the labor market, the institutional environment, basic infrastructures, business efficiency and innovation. This report, carried out by experts from the University of Murcia, provides a detailed view of the competitiveness of each region.
Growth and Competitiveness Trends
In 2023, an average increase of 5.6% was recorded in the structural competitiveness of the autonomous communities, a figure that marks the second highest increase since 2008. Although all regions have improved, those in a more disadvantaged situation have experienced more notable growth, thus reducing the distance with the most competitive ones.
Competitiveness Classification
The top spots in the ranking continue to be occupied by the Community of Madrid, the Basque Country and Navarra, with Madrid reaffirming its dominant position. Catalonia, for its part, remains the only community in the medium-high category, increasing the distance with Madrid.
GDP Growth Analysis
The Independent Authority for Fiscal Responsibility (AIReF) has estimated that Catalonia will experience GDP growth of 1.8% in 2024, in line with the Spanish average. This increase is similar to that of other communities such as Andalusia, Murcia, La Rioja and Extremadura, but falls short of regions such as Castile and León, the Basque Country, Navarra and Aragon, which lead with growth of 2.2%.
Impact of Population Growth
GDP growth cannot be analyzed in isolation; population growth must be taken into account. If GDP grows at a similar or lower rate than the population, real income per capita does not experience a significant increase, complicating the improvement of productivity, which is a persistent challenge in Spain.
Recent Population Data: A Dynamic Scenario
The latest data from the National Institute of Statistics (INE) shows notable population growth in Spain, with an increase of 67,367 people in the second quarter of 2024, reaching a total of 48,797,875 inhabitants. This growth is largely attributable to the increase in the immigrant population, while the number of national births has decreased.
Catalonia and Population Growth
Catalonia has registered a population increase of 0.23% between the first two quarters of 2024, almost double the national average. However, Madrid has led this growth with 0.33%, followed by the Valencian Community and the Balearic Islands, both with 0.28%.
Future Perspectives i Conclusions
The increase in population puts GDP growth into perspective, particularly in regions such as Catalonia, the Balearic Islands and the Valencian Community, where tourism plays a fundamental role. Although Madrid also shows high demographic growth, its lower dependence on tourism allows it to consolidate its economic leadership.
As the Catalan economy continues to advance, the gap with the most competitive regions, especially Madrid, is widening. Aspects such as productivity and dependence on specific sectors such as tourism are factors that need to be addressed to improve Catalonia’s structural competitiveness in the future.
