GIBRALTAR, UK AND SPAIN: HOW BREXIT COULD BE AN OPPORTUNITY

By Salvador Llaudes, analyst at Real Instituto Elcano and Ignacio Molina, senior Analyst at Elcano Royal Institute of International and Strategic Studies.

Gibraltar Sea View
Picture source: UK in an Changing Europe

It is probably impossible to find a single British family without some summer experience in Spain (more than 18 million visited in 2017 alone), and there are more than half a million British citizens living in Spain full or part-time. The UK is also the favourite destination for the rising wave of Spanish emigration.

This mutual popularity generates more daily air traffic than anywhere else in the world. And it is also reflected in economic activity. UK is where Spanish companies (more than 300) invest the most, while British businesses (almost 700) are the second largest foreign investor in Spain.

Looking at trade flows, both countries tend to fluctuate between the fourth and tenth positions in the import/export indexes, with a surplus now favourable to Spain. There may not be another case of two countries that, without being neighbours or sharing a common language, have a greater interpersonal and business interaction. Read more