2017A year for dynamic businesses

Spanish Business Expectations for 2017Main constraints for businesses' growth by country Source: Grant Thornton International Business Report 2017 Source: Grant Thornton International Business Report 2017

Employment should continue to improve in 2017: just 3% of Spanish companies foresee layoffs and 4 out of 10 plan to increase their workforces.

Despite political uncertainty at home and abroad, Spanish companies have remained confident in their outlooks for their own business. Prospects for 2017 are even better.

Growth forecasts justify Spanish businesses’ optimism.

Source: European Commission Autumn 2016 Economic ForecastNet percentage of businesses expecting an increase in the next 12 months

Net percentage of businesses expecting an increase in the next 12 months

Business outlook (Q4 2015 - Q4 2016)

2017 GDP Growth forecast

Net percentage of businesses reporting optimism for economic outlook (next 12 months)

Spanish companies see 2017 with renewed optimism after leaving behind a year of uncertainty.

47

20

39

21

49

18

-9

-67-62

-80

-60

-40

-20

0

20

40

60

Q4-2016Q3-2016Q2-2016Q1-2016Q4-2015Q4-2014Q4-2013Q4-2012Q4-2011

Business optimism

Spain

Eurozone

65

56575857 57

44464953

36

283332

38

3139

4136

32

20

30

40

50

60

70

Q4-2016Q3-2016Q2-2016Q1-2016Q4-2015

Revenue Profitability Employment Exports

How do you think your company's workforce will evolve in 2017?

Increase

Decrease

Remain the same

Spain Q4 2016

58% 39%

3%

65

36

57

31

38

20

25

22

25

13

25

19

52

30

48

28

44

25

37

24

Revenue

Employment

Profitability

Exports

Business prospects for 2017: Eurozone's main economies

Spain Germany France Italy Eurozone (average)

2.3

1.6

1.5

1.4

0.9

Spain

Eurozone

Germany

France

Italy

Argentina

Armenia

Botswana

Brazil

China

France

Greece

Indonesia

Poland

Singapore

South Africa

Spain

Thailand

Malta

Canada

Estonia

Finland

Germany

Japan

Lithuania

New Zealand

Sweden

Georgia

Ireland

Malaysia

MexicoAustralia

India

Italy

Netherlands

Nigeria

Turkey

United Kingdom

United States of Americainfrastructure

Shortage of finance

Regulations and red tape

Lack of skilled workers

Russia

Shortage of orders / reduced

demand

ICT infrastructure

Economic/ political uncertainty

Exchange rate fluctuations

Philippines

Transport infrastructure

Energy costs

* The Grant Thornton International Business Report (IBR) provides insight into the views and expectations of more than 10,000 businesses per year across 36 economies. This unique survey draws upon 22 years of trend data for most European participants and 11 years for many non-European economies. More information: www.grantthornton.global

** Net percentage: total expecting an increase less the total expecting a decrease

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