The Diplomat in Spain

Fabian Picardo.

The Diplomat. 10/08/2018

Gibraltar’s Chief Minister, Fabian Picardo, denies that the economy of the British colony is «parasitic» in the Spanish region of the Campo de Gibraltar, as recently suggested by Spanish Foreign Minister Josep Borrell.

To this end, he explained that more than 13,000 people live in Spain and work in Gibraltar, most of which are Spaniards, while companies in Gibraltar purchase products and services valued around 450 million euros a year from Spanish companies.

Also, citizens living in Gibraltar spend about 80 million euros a year on goods and services in Spain, and those who have a second home in Spain spend about 70 million euros in Spanish territory, of which about 50 million euros they remain in the Campo de Gibraltar.

Therefore, Picardo considers that Gibraltar represents 25% of the GDP of the neighboring Spanish region and that the economy of the Rock is the second most important employer in Andalusia.