Business

The 21st edition of Catalonia’s International Tourism Fair takes place between April 20th and 22nd in Barcelona. In this annual trade fair, the sector displays its best offers and trends. This year sport tourism, wine tourism and the camping sector are some of the main attractions. More than 200,000 people are expected to visit the event. Tourism represents 12% of Catalonia’s GDP, employing more than 400,000 people. The Catalan tourist industry welcomed 23.5 million visitors in 2011 and earned €11.3 billion; estimates for 2012 expect figures to increase by 7%. National Geographic included the Costa Brava as one of its top 20 destinations worldwide.

Spain’s largest bank presented its results for 2012’s first quarter. Barcelona-based CaixaBank has reduced its profits by 84% compared to the same period last year in order to immediately fulfil all the new financial requirements decreed by the Spanish Government in February. The Catalan bank has allocated €2.44 billion in provisions in the last quarter. CaixaBank’s CEO explained they wanted to concentrate their efforts in this first quarter. Besides, the bank’s President explained that despite Repsol-YPF’s episode in Argentina, they will carry on with their expansion plan in the Americas, with the support of Carlos Slim, opening new branches in Chile, Colombia and the United States.

In the three first months of the year, the inflation rate remained stable in Catalonia. The monthly price increase, which is the highest since October 2010, is mainly due to the end of retail sales and the oil price increase. In Spain, prices increased by 0.7% in March, while the annual inflation rate was set at 1.9%.

The bank created from Catalan savings bank CatalunyaCaixa is expected to be sold within the next two months. CatalunyaCaixa was intervened by the Bank of Spain last September 30th, as it could not reach the required core capital. The Spanish Fund for Orderly Bank Restructuring (FROB), owned by the Spanish State, currently owns 89.74% of CatalunyaBanc. The FROB has decided to disinvest in the Catalan bank, which starts a competition process that will sell 100% of CatalunyaBanc’s shares.

Tourism from Russia and former Soviet republics has been increasing in Catalonia over the last few years. The Russian tour operator Natalie Tours announced that it will bring 35,000 Ukrainian tourists to Spain, 80% them going to Catalan beaches and the rest to the Canary Islands. Within the next 5 years, the number of Ukrainian tourists is expected to reach half million people. Furthermore, the number of tourists from Eastern Europe is expected to increase between 35% and 40%.

The Spanish Minister for the Economy, Luís de Guindos, wants to speed up the process and have the entire Spanish banking system restructured before the summer. The Spanish Minister also said that he is expecting further concentration processes of other financial entities to be announced in the coming weeks. CatalunyaCaixa’s banking business had a profit of €304 million, although the €1.5 billion provisions for the real estate business caused a €1.34 billion loss in 2011.

It is the first time since 2007 that unemployment has dropped in the month of March. In total, at the end of last month there were 638,247 people registered as unemployed in Catalonia. The number of unemployed people decreased throughout Catalonia, especially in Girona and Tarragona provinces. However, in Spain, unemployment increased by 38,769 people, reaching a total figure of 4,750,867 jobseekers.

The 2012 Alimentaria Exhibition welcomed 40,000 international visitors, which represents 29% of the 142,000 attendees. It represents an 11% increase compared to the last such event in Barcelona in 2010.

The Catalan company Áreas will manage two service areas in the United States until 2047, including the largest in the entire country, located on the I-95 in Maryland, the busiest motorway in the US. The Catalan company will invest $56 million in their renovation, which will produce a turnover of about $1.8 billion in 35 years. With this operation, Áreas becomes the second largest operator in the US. The Catalan multinational ended the 2011 financial year with a turnover of €649 million, which represents 4% more than in 2010. This growth has been possible due to the company’s expansion in international markets.

Banca Cívica has accepted the offer from the Catalan bank to pay €1.97 per share. With this operation, CaixaBank, the private bank created last year by the Catalan savings bank ‘La Caixa’, becomes Spain’s largest financial entity, ahead of BBVA and Banco Santander. After buying Banca Cívica, CaixaBank will have more than €342.6 billion in assets in the Spanish market. Banca Cívica was the merger of four savings banks: Caja Navarra, Caja Canarias, Caja de Burgos and Cajasol.

TEAM Ports&Maritime will build the five passenger boarding bridges for Hong Kong’s new cruise ship terminal, designed by Norman Foster. According to the company, it is the largest contract ever made in the sector. Furthermore, the Catalan company, which is part of the Adelte Group, will supply two more bridges for Sydney’s new White Bay terminal and two more for Cape Canaveral’s new terminal. The company has also just installed three passenger boarding bridges at Singapore’s International Cruise Terminal.

Vueling will offer almost 1 million seats from Rome in eight different routes, including a new direct connection with Nantes. Rome will be Vueling’s third base abroad, after Amsterdam and Toulouse. “It is the first necessary step to consolidate Vueling’s growth in Rome and in Italy”, stated the Catalan airline’s CEO, Àlex Cruz.

Representatives from the Quebec Government have organised sessions to advertise job possibilities in their region. They are mainly looking for workers with technical skills, mainly in the sector of civil engineering, healthcare, and IT. The Catalan Government reached an agreement with Quebec to strengthen the professional mobility of Catalan workers. The participation of Catalan companies in the plans for economic development of the Quebecois Government is also promoted.

The Japanese multinational company has chosen Catalonia’s capital for a new international sales centre serving the entire European Union. The centre will create 300 high-qualified jobs by 2013, when it will be fully operational. The President of the Catalan Government, Artur Mas, unveiled the new centre, while he pointed out the strong business relationship between Japan and Catalonia. He also emphasised the “business friendly policy” of the Catalan Government.

The Alstom factory in Barcelona will build the 22 new tram cars that will serve the English city of Nottingham. This order completely guarantees the viability plan for 2012 and 2013, as the factory will be working at full capacity for the next 2 years. However, the French multinational has warned about the fact that no new orders have been placed in Spain since 2009. This has forced Alstom’s factory to focus on exports and has been building underground trains for Santo Domingo, Lima, Panama, London, Washington and Rabat.