Spain attracts remote workers with favorable tax laws

Spain is becoming more appealing to remote workers, boosting its economy, according to Bank of Spain chief Jose Luis Escriva. Factors like a new startup law, zero tax on foreign income, and high-speed internet contribute to its attractiveness. Earlier this year, Prime Minister Pedro Sanchez proposed a 100% tax on non-EU non-residents buying homes, which raised concerns. Escriva warned of a housing shortage, noting that demand from foreigners is outpacing home production. Despite steady economic growth, Escriva questioned whether Spain can maintain its higher growth rate compared to France and Germany. The country is also adapting to changing consumer preferences in tourism post-pandemic.