The Competitiveness of the Spanish Economy
At present, set against other advanced economies, Spain ranks highly for infrastructure, technological readiness, health and primary education. However it is let down mainly by its macroeconomic environment, its institutions, labour market inefficiency and low levels of innovation.
According to the WEF's Global Competitiveness Report 2017-18, the main problematic factors to doing business relate to hiring and firing practices (115/137), the total tax rate (107/137), the burden of government regulation (113/137) and government debt (122/137). Spain ranks 70/137 in terms of the procedures required to start a new business.