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Good morning, welcome to the first edition of Expansion. I'm Mayor Manche. Today is Tuesday, July 19th, and we're going to tell you that Spanish airports are now operating at practically pre- pandemic levels. We'll also cover the latest forecasts for Spain's growth and reveal why investment guru Mark Mobius is betting on emerging markets.
Spanish airports are already operating at 93% of their pre- pandemic levels. Barajas, in fact, is operating at peaks close to 100%, and Palma de Mallorca is registering even higher activity, according to Eurocontrol data. Spain is one of the countries where the airline passenger crisis is being left behind sooner, although almost all European countries are already above 80%.
Despite this, while in the United Kingdom, Germany, the Netherlands, and Denmark, problems are occurring at airports with delays and lost luggage, the situation in Spain, France, and Italy is much calmer. There are experts who warn that despite the surge in travel and consumption that We are seeing this summer that autumn will arrive laden with bad omens in Spain.
Downward revisions to the economic growth forecast for this year are accumulating. Just yesterday, FUNCAS and Mapfre Economics deepened this reduction, which had already been made previously by the European Commission, the OECD, and the Bank of Spain, among others. FUNCAS expects GDP to advance by 4.2 percent in 2022 and 2 percent in 2023.
MADRID analysts are slightly more optimistic, forecasting that the Spanish economy will grow by 4.1 percent this year and 2.4 percent next year. The worst predictions correspond to the last quarter of the year, in which, according to FUNCAS, we could be on the verge of recession. Expansión publishes today an interview with Mark Mobius, the well-known emerging markets guru who has traveled to Madrid to visit his clients.
Mobius explains that when investing in emerging countries, they look for excellent, solid, international companies in countries with enormous growth projections. He does, however, emphasize the need to take a series of precautions, such as monitoring the component Political factors, exchange rates, and reserves—in this guru's opinion, emerging markets are where to invest because that's where the undiscovered value lies.
Today we have the CIS barometer with voting intentions, which also includes a survey conducted around the State of the Nation debate held last week. Also today, the Independent Fiscal Authority will present its first opinion on the Minimum Living Income after two years in operation. This aid benefits some 450,000 households, where 1.1 million people live.
On the stock market, the IBEX-35 started the week yesterday with a 0.22% increase. This increase was not enough, however, for the index to recover the 8,000-point mark. Today the session will begin at 7,963 points. Juanes. The Times highlights the warning issued by Ukraine, stating that there will be a sharp reduction in the wheat harvest if the Russian blockade continues.
The British newspaper also tells us that Manolo Blahnik, the famous shoe brand, has won a 22% legal battle. Years in China and beyond, you can use your brand in the Asian giant. This is how the day unfolds. Remember that you have all the day's economic, business, and financial information at expansion.com and on our social networks. You can listen to this podcast on Spotify, Xbox, and Apple.
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