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Spain News Today

Spanish news in English

Saturday, November 23, 2024

Spain's Wealth Gap Widens

Published: 2024-10-03

The economic disparity between Spain's wealthiest and poorest municipalities has reached its widest point since 2016, according to recent data from the Spanish Tax Agency.

Pozuelo de Alarcón, a suburb of Madrid, remains the richest municipality with an average income of €85,323, marking a 6.3% increase from the previous year.

In stark contrast, Huesa in Jaén is the poorest, with an average income of just €13,658. This growing gap highlights a persistent trend where wealth is concentrated in metropolitan areas like Madrid and Barcelona, while southern regions such as Andalusia and Extremadura lag behind.

Valldemossa in Mallorca has notably climbed to the second position, with its average income surging by 66.6% to €67,527. The data underscores the challenges of economic inequality across Spain, with affluent areas seeing more significant income growth compared to their less prosperous counterparts.