2021: Spain, Greece, and Portugal's economies outpace EU average due to tourism rebound.
The economies of Spain, Greece, and Portugal, once labeled 'Club Med' nations, are now outperforming their northern European counterparts due to a rebound in tourism. These countries implemented austerity measures during the early 2010s but are now growing faster than the European Union average. Spain's GDP expanded by 2.5%, Portugal's by 2.3%, and Greece's by 2.0% in 2021, compared to the EU's overall growth of 0.4%.
June 09, 2024
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