As explained by the President of the Bilbao Chamber of Commerce, the word that defined 2023 was “slowdown”, with growth between 1.4 and 1.5%, and for 2024 “very moderate” growth is expected.
The Bilbao Chamber of Commerce expects Bizkaia’s economy to end 2023 with growth between 1.4 and 1.5% and for 2024 it expects “very moderate” growth of around 1.9% or 2%.
The president of the Bilbao Chamber of Commerce, Industry, Services and Navigation, José Ignacio Zudaire, accompanied by the general secretary of the entity, Mikel Arieta-araunabeña, announced these estimates during a press conference in Bilbao, where an analysis of the current economic situation in Bizkaia and the business scenarios.
In his appearance, Zudaire emphasized that the word defining 2023 was “slowdown” and that “very moderate” growth is expected for 2024 in a “complicated” scenario.
Most companies in Bizkaia (79%) believe that the situation will remain “stable or more positive” next year and are “moderately optimistic about” the 2024 financial year with “slight growth”. The most pessimistic sectors are construction and trade, while industry believes it will have better prospects. In terms of employment, 75% of companies have committed to maintaining employment by 2024 and only 8% foresee a reduction in workforce.
Source: EITB
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