The Spanish economy raises to 32 international position according the report ‘Doing Business’. A ranking that places our country ahead of Japan, Italy and Mexico in facilities for corporate business.
Economic reforms are beginning to bear fruit, repositioning Spain in the international panorama. This week has risen in the ranking of countries with the greatest terms for doing business.
The ranking is based on the report ‘Doing Business 2017’ conducted by the World Bank. An annual survey of a total of 190 countries that analyzes the ten most important parameters for business development.
Spain, which a year ago appeared in 33th position, ascends a position as a recognition of hiring simplifications and tax cuts.
Our country is now ranked No. 32 with a score of 75.73 points out of 100 and the recommendation to go on with reforms.
Do business in Spain
In our country, ‘Doing Business’ highlights important legislative reforms undertaken during the last year. A clear reference to the reduction in the payment of property taxes, vehicle registration, transfer of ownership and even on environment.
In turn, is positively assessed the implementation of two electronic processing systems: which allows direct settlement of contributions to Social Security and online processing of court cases in civil matters.
In terms of categories, Spain gets a good rate by solving insolvency proceedings (18th worldwide), the degree of enforcing contracts (29th), in protection of minority shareholders (32 °) and tax settlement (37º).
While uneven aspects must be improved, such as access to credit (62º), access to electricity supply (78th), opening a business (85th) or obtaining building permits (113th).
The World Bank also makes a specific point in labor matters, the labor market segmentation between permanent and temporary contracts. A subject that is exposed to a greater risk of employment loss to temporary male workers (6.2 points higher than fixed) and women (7.3 points more than their fixed companions).
‘Doing Business 2017‘ Report
Overall, New Zealand is the best worldwide positioned country. The state where it is easier to do business, ahead of Singapore (2) and Denmark (3).
An example: 13 days are needed to open a new business in Spain. Exactly 12.5 days longer than a New Zealand company.
The Top 10 is completed by Hong Kong(4), South Korea (5), Norway (6), United Kingdom (7) United States (8), Sweden (9) and Macedonia (10). All above 81.5 percentage points.
Spain also outperform Germany (17), Canada (22), Portugal (25), Netherlands (28) and France (29).
Below the 32rd of Spain there is a long list of countries, such as Japan (24), Belgium (42), Mexico (47), Italy (50), Colombia (53), Argentina (116) and Brazil (123).
The rise of the Spanish economy is positive. But as noted by the World Bank itself, reforms are needed and time for its consolidation on the international business map.
