Spain's global approach delivers results
Economies which adopt a global approach offer the best route for improving social infrastructure and delivering financial returns.
That is the view of Organisation for Economic Co-operation and Development (OECD) secretary-general Angel Gurria, who told a meeting of G8 employment and labour ministers that globalisation could deliver economic growth.
Describing the globalised approach as "a powerful engine for raising living standards", he cited figures which claimed a 10% increase in trade openness could yield a 4% increase in per capita income.
"Freer trade and investment intensifies competition, thus encouraging firms to innovate and adopt new technologies ÔÇôwhich, in turn, spurs economic growth and supports job creation," he commented.
The news follows the stance adopted by a number of economists and political commentators earlier this week on the performance of Spain, where a comparatively relaxed approach to immigrants, which has seen millions of migrants arrive from eastern Europe and north Africa, has delivered positive change.
Speaking to BusinessWeek, in a piece fleshing out the reasons behind what is described as "Europe's best-performing major economy", Eric Chaney of Morgan Stanley pinpointed an "open and flexible" workforce as the reasons behind the country's success.
"In a world where populations are more mobile and economies are globalising, you attract people who want to work," he said.
A workforce which has helped the country create half of all jobs in the eurozone in the last five years means Spain is a solid bet for those looking for a strong economy to invest in.
Named by the Association of International Property Professionals as the most popular destination for UK investors, Spain has long been seen as a home from home for many Britons.
Now, with the economy on the up, property investors will be looking at the potential in the Mediterranean climes once more.
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