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The Detroit of Europe; Slovakia takes on Spain, where eyes are firmly fixed on post-covid tourism opportunities




Score prediction: SLOVAKIA 0 – SPAIN 2


Slovakia – Detroit of Europe.

Automotive Industry is the most important sector and the driving force of the Slovakian economy. The industry, which represents 13% of the Slovakian GDP, employs, directly and indirectly, more than 275,000 people.  

The sector has produced more than one million cars a year since 2015. As a result, Slovakia is by far the largest global car producer per capita. In 2020, Slovakia produced more than 200 vehicles per 1,000 inhabitants, while Czechia, the world’s number two, produced 125 vehicles per 1,000.

Slovakia is the home of Volkswagen’s only manufacturing plant producing five different automotive brands (Skoda, Audi, Porsche, Volkswagen and Seat) under one roof. Kia based its European production facility in Slovakia. PSA Peugeot Citroen Group has built a car production facility in Slovakia and established an engineering centre. The newest member of the Slovakian car manufacturing family, Jaguar Land Rover, set up its production site in October 2018.  

Apart from the four car makers, more than 350 automotive suppliers are operating in Slovakia.

Slovakia is also home to the first flying car! AeroMobil will bring to market the flying car in early 2023. The flying car will have a driving range of approximately 520 kilometres and a flying range between 520 to 740 kilometres.




Score prediction: SLOVAKIA 0 – SPAIN 3


It is not going to be a huge surprise if I talk about tourism when I’m asked to highlight one of Spain’s economic strengths.

We are used to receiving millions and millions of foreigners each year that come here looking for our culture, our food and, obviously, our weather.

Back in 2019, more than 83 million people arrived to Spain, which represents an accumulated spending of nearly €95bn. In terms of growth and labour market, this industry used to be the greatest contributor, accounting for around 13% of the spanish GDP.

However, as with the rest of the world, all the companies with a huge dependance on tourism and leisure have been struggling since the pandemic. But as all of you well know what has happened in the last year, I am choosing to look forward: in all crisis, as in all markets turmoils, opportunities arise.

The resilience of our productive model has been under pressure but we are seeing the light at the end of the tunnel and Spain and, particularly, Spanish tourism-related companies are ready to begin again and to get back to where we used to be.

Even though I know that a lot of the reopening trade is already reflected on asset prices, you can bet we are going to take advantage of the tailwind that represents the desire from our European colleagues of being abroad after one year of lockdowns.

And I even didn’t mention the EU stimulus…


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