Spain is the fourth largest country in Europe by geographical area. With over 47 million people, it is also one of the most populous countries on the continent. Millions of people visit Spain each year as tourists. Many see the amazing cities of Madrid, Barcelona, Valencia, and Seville. However, some travel to rural areas of Spain. These can appear more impoverished, which begs the question – is Spain actually a poor country? Definitely not, and let us explain…
1. Spain Is The 15th Richest Country In The World
A first reason why Spain is not a poor country is because it is actually one of the richest nations in the world.
Spain has a GDP of 1.28 trillion USD. This makes it the 15th richest country in the world out of 195 nation states. The simple fact that Spain’s economy is much larger than almost every other country is a clear indicator that it is not a poor nation.
The significant size of the Spanish economy means the country can function well. The government in Spain is able to raise revenue from taxation of its citizens, which it can in-turn use to fund public services. The size of the Spanish economy also means people are able to run successful businesses – providing goods and services that people need. These factors combined are key reasons why Spain is not an impoverished country.
2. Spanish People Are Wealthy By Global Standards
A second reason why Spain is not a poor country is because Spanish people are wealthy by global standards.
Spain has an average per capita income of 42,250 USD. This means the average person in Spain earns good money and is able to fund a decent quality of life. Spanish people are among the richest in the world. This is a clear reason why Spain is not a poor country.
People in Spain generally live well. They have good jobs and are able to provide for their families. Only 7% of people are designated as living in poverty. Those that do receive support from the state, meaning their lives are improved over people in poorer countries who live in extreme poverty. This is another sign that Spain is not a poor country.
The high average income, especially by global standards, of Spanish people demonstrates that the country is not impoverished.
3. The Country Has A Developed Economy
A third reason why Spain is not a poor country is because of its developed economy.
A developed economy is defined as having a strong manufacturing base, it’s use of advanced technology and its ability to provide a high degree of wealth creation for its citizens. Being an advanced economy is key to a nation being successful. It provides the wealth needed for governments and businesses to perform well and gives individuals the jobs needed for a high quality of life.
Spain’s economy industrialized throughout the 19th Century. By the mid-to-late 20th Century, Spain had adopted the technologies, research and processes needed to be considered an advanced economy. Having a developed economy means that people in Spain can work good jobs. It also means Spanish industry can provide the goods and services people in the country need to live well.
There are only 81 developed economies in the world, and Spain is considered one of them. This is a clear indication that the country is not poor.
4. Spain Has World-Class Infrastructure
Another reason why Spain is not a poor country is because it has world-class infrastructure.
Good infrastructure is key to a nation building wealth. Roads, railways, airports, tele-communications, and utilities are all vital for moving goods, people, and information around a country. They are also key for international trade and being able to import what a country needs, as well as exporting its own produce for profit. Poor countries almost always have bad infrastructure.
Spain has some of the best infrastructure in the world. The country has a good quality road network linking to even small towns and villages. It also has a rail network, including high-speed trains, connecting major cities. The country has 59 international airports. Almost all people in Spain can access phone connections and high-speed internet. The utilities in Spain, including water and electricity, are well ran and everyone in the country, including even in rural areas, have continuous access.
The quality of the infrastructure in Spain is a major reason why the country is not poor.
5. The Country Has A Strong Education System
A further reason why Spain is not a poor country is because it has a good education system.
Poor countries struggle to educate their children. Their governments lack the funds to provide quality education to all young people. Children who do go to school often receive sub-standard teaching. Young people in rural and remote areas in many impoverished countries do not have access to education at all.
All children in Spain receive a high-quality education. Children in Spain go to school from ages five to sixteen. Education is free and even in rural areas quality schooling is provided. Spain’s education system is ranked as one of the best in the world. This is a clear indication that Spain is not a poor country.
As well as all children in Spain receiving quality elementary and secondary schooling, the country has a world leading higher-education sector. Around 40% of people in Spain are university educated. Spain also has some of the top universities in the world, including Pompeu Fabra University, University of Barcelona, and the Autonomous University of Madrid. Universities in Spain receive substantial financial support from the state and students can afford to study at the institutions they choose. The standard of university education in Spain is a further sign that the country is not poor.
6. Spanish People Can Access Quality Healthcare
Having a good healthcare system is another clear indicator of a wealthy nation. Spain is not a poor country because it has a world-class healthcare system.
Like education, poorer countries struggle to provide healthcare to their citizens. The government does not have the funds to ensure healthcare provision across the nation. People in impoverished countries can have to pay out-of-pocket to fund medical care, often at great expense. People living in destitution, or in remote and rural areas, often go without healthcare in low- and middle-income countries.
Spain’s healthcare system is ranked eighth in the world. Everyone in Spain can access the healthcare they need. The system is funded by social security and Spanish people rarely have to pay themselves for the medical care they need. The Spanish healthcare system is present across the country and people in rural areas can access the medical assistance they require.
The quality of, and access to, Spain’s healthcare system is a major reason why the country is not poor.
7. Spanish Companies Compete Globally
Spain has many large and important companies that trade globally. This is another sign it is not a poor country.
Poor countries have weak economies. This means they cannot support large companies and struggle to complete globally. Many poorer nations focus on economic areas such as resource extraction and agriculture. They often fail to build businesses that can develop goods and services that other countries need.
Spanish businesses are successful the world over. Companies such as Telefonica, Santander Bank, and SEAT are global brands. The Spanish economy is developed enough to support the creation of companies such as these. The Spanish labor market is also educated and innovative enough to ensure these companies can recruit the staff they need to continue to compete with other international businesses.
The size, and strength, of Spain’s business sector is a major reason why the country is not poor.
8. Spain Has A Rich History From Its Colonial Past
A final reason why Spain is not a poor nation is the legacy of the country’s colonial past.
Spain had one of the largest empires in human history. They colonised almost all of Central and South America. They had territories in the Caribbean, as well as colonies in Africa and the Far East. For over 500 years, Spain ruled over a huge empire. This made the country incredibly rich.
Although Spain’s empire ended by the 20th Century, the riches it created are still a reason why the country is not poor today. Spain developed industries and technologies, as well as acquired valuable resources over the hundreds of years of empire. This grew the Spanish economy enormously over this period. It also left a legacy that allowed Spain to be a rich and prosperous country to this day.
There are many reasons, as we have discussed, why Spain is not a poor country. It cannot be said that the legacy of Spain’s empire, and its role as a great global power, is the biggest reason why the country is wealthy today. However, it also cannot be ignored as a reason why Spain is definitely not a poor country.