23rd July 2018
Spain has long been an attractive destination for holidaymakers and international workers alike, with its combination of sun, sea and sand having obvious appeal. However, from 2006 onwards, the Spanish economy went through nearly a decade of economic crisis, with unemployment levels once reaching 26%.
Financial Growth Fuels Spike In Demand
However, there’s now fantastic news for professionals and agencies alike: a period of unprecedented economic growth in the country has caused a spike in demand for contractors. In 2017, Spain experienced the greatest growth of all of the advanced economies, and this period of expansion looks set to continue, with the IMF and OECD forecasting a 2.8% uptick in Spain’s GDP for 2018. For us here at 6CATS, the boost that this is giving to agencies is clear: we have seen a 154% year-on-year increase in contractor numbers in July 2018 alone. There can be no doubt, then, that this optimistic outlook is driving businesses in the region to seek freelance professionals with the skills to support and drive further success.
Know Your Stuff
Crucially, much of this demand is being met by EU professionals who make up 51% of the contractors operating in the country, compared to the 48% which are Spanish nationals. Our data shows that businesses are relying on these foreign contract experts to fill demand across a range of sectors, including IT, Pharmaceutical, Technical & Engineering, Marketing, Energy and Oil & Gas. This highlights that there’s plenty of opportunity for agencies to capitalise on the booming contingent workforce market.
However, contracting in the country, can be complex, particularly as it involves registering for multiple documents such as a Numero De Identificacion de Extranjeros or ‘NIE’ number which can make the process lengthy. It is also important to bear in mind that there could be further changes to come for UK contractors after the UK leaves the EU. With international authorities, including those in Spain, clamping down on tax evasion, it is essential for all parties involved in a contract placement in the country to be compliant with local legislation. The easiest, and crucially, safest, way to ensure this is to partner with an expert.
Contact our specialist team today to find out how we can help your agency.