Alicante economy shows job growth amid housing and export challenges

The economy of Alicante is experiencing significant growth in the labor market, with Social Security affiliations increasing by 4.26% year-on-year, surpassing the national average of 2.85%. Unemployment has reached its lowest level since January 2010, with 112,991 people registered as unemployed.

However, the Institute of Economic Studies of the Province of Alicante (Ineca) reports that this growth is not translating into improved social welfare. Key economic pressures include a 13.57% increase in housing prices and a 14.58% drop in home sales. Additionally, provincial exports fell by 0.57% during the first half of the year, contrasting with a 2.02% increase across Spain.

While sectors like footwear saw a decline in export value, the fruit and nut sector experienced a 45.7% increase. Ineca President Alfredo Millá noted that while the economy is dynamic and adaptable, growth must lead to higher productivity and better wages to improve real societal well-being.