Possible consequences of Brexit and its effects on the economy and tourism of the Costa del Sol have generated a climate of concern and uncertainty among businessmen and British residents, although according to experts, their effects will not be so negative.
Last week we went to a conference of Mario Weitz at Andalucia Lab, a former adviser economic expert of the International Monetary Fund (IMF) and professor at the business school ESIC, to analyze the impact of Brexit. He explained that in an area like the Costa del Sol this separation affect less than in other territories for several reasons: the improvement of the Russian economy and the arrival of potential tourists, lower other tourist competitors nearby Arab countries, economic expansion in Spain or Chinese investment.
Possible effects of Brexit on the Costa del Sol
Weitz believes that to alleviate these potential negative effects of Brexit, Costa the Sol should go towards an export model, produce here and sell out, and that societies change and a model based on the technology are directed , training and innovation. In this sense, the economic expert explains that the Brexit must make Europe change its economy and relax austerity in order to boost growth and wage increases. Finally, the Argentine professor thinks the Brexit is the result of a context of rise of populism and anger of the middle class and its negative impact on the Costa del Sol will be noticed in the health tourism or the real estate sector.
One of the immediate consequences of the surprising outcome of Brexit is that many British residents on the Costa del Sol wishing to get Spanish nationality, as they fear that the departure of the United Kingdom of the European Union have effects, for example, when receiving healthcare.