Spain
- Land area
- 505,990 km2
- Population
- 46.5 million
- Currency
- euro [EUR]
The Kingdom of Spain is situated on the Iberian Peninsula in south-western Europe. The country’s population has grown in recent years, chiefly due to a high level of immigration. Today, more than 46 million people live in this Mediterranean nation, whose economic power and income level show a marked north-south divide. Indeed, the per capita income in the south of the country is over 30 per cent below the national average.
Based on its gross domestic product, Spain is the fifth-largest national economy in the European Union. The country left the recession behind at the end of 2013. However, a high rate of unemployment remains a great challenge for the country’s government and economy, stifling consumption.
Spanish consumers have access to a wide range of retail formats for purchasing essential goods, non-food items and luxury goods. The market is dominated by Spanish and French companies; small and medium-sized cities in particular still show potential for modern supermarkets.