Spain finds it can import prosperity:
MADRID — Large scale immigration to Spain in recent years has been behind the country's rapid economic growth, according to a report published on Monday.
The study, by the Caixa Catalauna savings bank, said the Spanish economy grew by 2.6 percent each year in the past decade on average because of the input from immigrants.
If large-scale immigration had not happened, the per capita GDP of the country would have actually fallen by 0.6 percent, the report adds.
Raquel Vazquez, head of studies at Caixa Cataluna, told the Spanish radio station Cadena Ser: "More than 50 percent of the rise in employment has been due to immigration."
Vazquez said immigrants had also helped to boost domestic demand and the building boom and increase demand for homes.
The size of Spain's immigrant population, who represents about 9 percent of the population of more than 44 million, is well above the European average.
Monday, August 28, 2006
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