The PESTEL analysis is a strategic analysis that aims to describe all the elements that are likely to have an impact on a company, a group or a territory. Here, we will study all the elements that can have an influence on Spain and the Spanish territories. The PESTEL analysis contains Political, Economic, Sociological, Technological, Ecological and Legal elements, which we will see in turn in order to draw up an exhaustive analysis of the impact of each aspect.
Political factors
The
political factors that can have an impact on Spain are, for example,
political stability, its political system of monarchy, the political
party in power, the rise of extremist parties that can be observed in
Spain, as in many European countries. We can also cite the policies and
decisions of restrictions related to the COVID19 epidemic. For example,
Spain announced on Monday, June 7, that it would reopen its borders for
tourists who have already received two doses of the COVID19 vaccine.
Decisions relating to the autonomy of the Spanish regions on certain
subjects are another element to be considered, as are the political
tensions linked to history, ETA, etc., especially in the region of the
Spanish Basque Country.
Economic factors
A
country very strongly oriented towards tourism, Spain has been strongly
affected by the COVID19 pandemic and recorded a recession for the year
2020. As such, we can cite growth or recession, inflation, rates
directors, the interest rates of Spanish banks, the unemployment rate,
the employment rate of working populations, the household savings rate,
as many factors likely to influence the large-scale country.
Social factors
Like
all European countries, Spain is facing significant social and
socio-demographic changes. In this category, we can cite, for example,
the ageing of populations, the increase in work in the population of
women, the lowering of the marriage age, the lengthening of the duration
of studies, the search for a better balance between private and
professional life. The massive development of teleworking observed
during the COVID19 pandemic in 2020 and 2021 could continue in the
months to come and upset the balances established until then.
Technological factors
The
technological factors likely to influence Spain in a significant and
lasting way are, in particular, the appearance and the development of
5G, the increasing robotisation of processes, the development of
automatic checkouts and mini-market vending machines, the rise of
intelligence artificial intelligence, the development of connected
speakers, products incorporating Bluetooth, connected watches, etc. All
of these products or services are likely to create technological
breakthroughs, major changes in lifestyles, create new needs, new
products, and disrupt existing balances as well. In terms of public or
private healthcare and health system, the development of connected
objects is, for example, a central element that will allow insurers and
public insurance companies to obtain much more information on their
policyholders than before, and perhaps to see the development of
individual pricing.
Ecological factors
Like
all European countries, Spain is committed to the Paris Agreement aimed
at reducing its greenhouse gas emissions and all of its polluting
activities. The development of more recyclable products, the rise of all
reusable or transformable products, are likely to influence the country
as a whole.
Legal factors
The
legal factors likely to influence Spain as a whole are all legal
measures, new regulations, international standards, etc. These can be
passed nationwide or beyond, such as IFRS accounting standards which are
international. Laws relating to the reception of foreign immigrants,
for example, are laws that are of paramount importance and are likely to
have a major impact on the country, its economy, its demography, etc.
The
PESTEL analysis of Spain made it possible to identify all the main
criteria that can impact the country on a global and national scale.
These can be Political, Economic, Social, Technological, Ecological and
Legal. It is very important to follow all of these criteria in order to
better understand the changes that Spain will experience in the years or
decades to come and to make sure that the risks associated with
uncontrolled changes in the economy are contained in one or more of
these factors.
Sources :
- Étude de marché en Espagne : les 10 meilleures sources de données - Into the minds
- Contexte politico-économique de l'Espagne - AttijariTrade
- Situation macroéconomique de l'Espagne - Economie gouv
- Pourquoi s'implanter en Espagne ? Dynamique mag
- Espagne : La nouvelle loi sur les étrangers est adoptée - Yabiladi