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Date Published: 20/12/2024

Residents of Alicante are 7,000 euros poorer than the average Spanish person

The province remains low on the list of wealth per person in Spain

Neither the rise in tourism, nor the increase in the employment situation within the province have been useful for closing the income gap that exists between Alicante and much of the rest of Spain. Furthermore, in terms of absolute numbers, the province remains the fifth most important demarcation in Spain, with a joint GDP of 41,757 million euros in 2022.

Alicante fell only behind Madrid, Barcelona, Valencia and Sevilla, which are all large hubs of wealth within Spain. However, when distributed among all the inhabitants of the area of the province and a GDP figure is taken from income of each person, Alicante falls to 44 out of 52 provinces in the whole of Spain.

These details were studied and revealed by Incea, from GDP figures taken from provinces that were published by the INE. It was upon studying the findings that it was discovered Alicante did not come out well on the overall list in the country. Moreover, the news was particularly harrowing when taking into account the fact that Alicante was 39 in the list last year.

Moreover, Alicante has been distressingly low ever since the crash of the real estate sector back in 2011, and it has not as of yet recovered. After the fall recorded with the pandemic, in 2022 the per capita income of Alicante residents rose by 6.5%, reaching an average of 21,622 euros, its historical height.

However, the truth is that this increase was lower than that recorded at the national level, where the wealth generated per citizen rose by 10.2%, to 28,748 euros, which is 7,126 euros more than in Alicante. At this moment Alicante is only above Jaén, Melilla, Córdoba, Cádiz, Badajoz, Granada, Ceuta and Málaga on the list of GDP income.

However if you compare Alicante with the highest earners in Spain per GDP, the gap is monumental. Madrid has a GDP of 39,000 euros, which is 81.3% higher than in Alicante. Furthermore, Valencia, which is not far from Alicnate on the coast, has a GDP of 26,000 euros per resident.

These figures are in contrast with the significant increase in jobs in Alicante.This is because the new businesses that are created are in sectors with low added value, which means that the salaries paid are also low, claim the experts. Such jobs within hospitality or personal services - two of the most booming - have agreements far below those of sectors related to new technologies or banking.

Moreover, the size of the companies also plays a part in their ability to bring wealth to the community. With smaller companies there are less middle managers and senior managers and this means that the salaries are lower overall.

For more information, news and what’s on visit our homepage at Alicante Today

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