The United States isn’t the only country experiencing financial distress. Spain is as well. And as the Spanish economy falters, many young Spanish people are thinking of relocating abroad just to have the chance of a better, more secure future. In fact, the country has lost almost 28,000 people in 2011 alone. While this might not seem so much, Spain’s population is only about 43 million.
So, where are all these Spanish people moving? Well, Spanish immigrants are moving all over the world, but quite a few of them seem to be relocating to London. The main reason behind this mass relocation appears to be the state of Spain’s economy rather than a specific love for the UK.
If you think the U.S. has a terrible unemployment rate, just wait until you hear what Spain’s is – a staggering 21%. This is the highest unemployment rate in the developed world. With such a high unemployment rate, it makes sense that many Spanish people might want to move to where the jobs are.
What does this mean for Spain? It isn’t good. As the unemployment rate rises and more and more people move out of the country, recovery can get even more difficult. Many of the migrants are skilled individuals – entrepreneurs, engineers, medics, tourism professionals, and the like. These are the very people that can help grow the economy.
In the last year or so, economic experts have noted that the Spanish government is aware of the mass exodus the country is experiencing. Hopefully, they’ll be able to do something about it, grow their economy, and have more people move within its borders instead of out!