Exploring Spain's Economic History

Abstract

This study examines Spain's economic history within the context of the 2008 financial crisis and the COVID-19 pandemic, focusing on sustainable tourism and economic transformation. It aims to comprehensively analyse the quantifiable impacts of both crises, delineate their characteristics, and evaluate governmental interventions in the tourism sector. The methodology comprises three sections: an in-depth analysis of tourism's influence on Spain's primary economic indicators, followed by an examination of three critical periods (the 2008 crisis, the “Inter-crisis Period” from 2014 to 2019, and the economic and public health crises of COVID-19). Findings highlight the crucial relationship between the tourism sector, gross domestic product (GDP), and employment, emphasising the importance of sustainable tourism in economic resilience. In conclusion, this study stresses the necessity of revitalising tourism to drive Spain's economic recovery, underscoring its pivotal role in the nation's economic history.