133,000 Companies and 1 Million Temporary Contracts Gone- Spain bets on Tourism Sector on the Costa del Sol and Costa Blanca to Revive the Economy

133,000 companies disappeared and a million temporary contracts were lost – now the reconstruction begins in Spain.

THE Spanish government assumes that the impact of the coronavirus crisis on the labour market has left behind the worst. In the coming weeks, the summer season will hopefully re-activate thousands of jobs. The recovery begins with the first thing it, the coronavirus, destroyed: 948,000 temporary contracts and 133,000 companies.

The jobs market in Spain has always been very fragile and since the Pandemic began everyone knew what the consequences would be – mass unemployment. A busy summer season in the country would normally see almost a million jobs created, with 5 per cent on a permanent contract.

The problem is that this boost is short-lived, come September and the layoffs start, it happens every year up and down the country. Ministers realise there is too much dependence on the tourism sector but have never been able to counteract it with jobs for the winter period, however, this year may be different. Due to the late start, industry insiders have mooted that a longer winter season will be created, something never experienced here so far.

“If this does happen, and we think it will, then the sector will achieve an unexpected boost that should repeat year-on-year,” said a spokesman for the tourist industry.

Spain has always been the favourite No 1 destination for tourists worldwide and that title looks likely to be held, for the near future at least. TW.