In the last 14 years the Spanish economy has grown due to two factors: the volume of workers that have joined the labour market (providing cheap labour), and price (a period with historically low interest rates). However, this model has run its course. Our economy is hampered by an excessive dependence on, and insufficient modernisation of, the building and tourism sectors, growing labour costs, low productivity and competitiveness, and a high trade deficit. These weaknesses can only be overcome through a new production model.
The growth model we need in order to leave behind the practices of the past and successfully face up to the challenges of globalisation rests on five basic pillars:
Our future and that of the coming generations will depend on the successful management of these five factors. This task concerns us all: companies, society, the authorities and individual members of the public. At PricewaterhouseCoopers we believe that, as a knowledge-based firm with our professionals’ capacity to provide value and innovate, we are in a privileged situation to drive change towards intelligent growth, providing experience, solutions, methodologies, efficient work mechanisms and our profound knowledge of the main sectors of the economy.