Business

CaixaBank, the main Catalan financial institution experienced a 12.8% drop in its net profit when compared to 2010. In 2011, it focused on increasing its core capital ratio to 12.5% -one of the highest levels in Europe- to strengthen its inner resources and, at the same time, left generic funds for insolvencies intact, cementing its robust position in the financial sector.

This year's edition Mobile World Congress will be the first after Barcelona was officially declared the Mobile World Capital, and the organising city of this annual event until at least 2018. The MWC will start on February 27th with the motto “Redefining mobile”. More than 1,400 companies will be present and organisers expect to break last year’s records. There will also be three times more Catalan companies.

Exports from the Catalan capital’s port have increased by 14% when compared to 2010. Car exports grew by 25%. 3.8 million people passed through Barcelona Port; 2.6 million were passengers of the 881 cruise ships that docked in the city harbour.

Emirates have announced they will link Barcelona with Dubai with a daily flight commencing in July. Furthermore, Spanair have announced connections with Beirut and Moscow, as well as more flights with Germany, France, Croatia and Serbia.

The company plans to open 60 new stores around the world in 2012, and build a new logistics centre in the town of Viladecans, located south of Barcelona. This year, the Catalan brand plans to launch a household linen collection and collaborate with the famous Cirque du Soleil to present new designs inspired by the spectacle.

The participation of the Catalan business community and local governments in the management of Barcelona’s Airport has been halted. This has been a long-term claim by many in Catalonia, as they believe that the centralised management of the airports has clearly benefited Madrid over Barcelona. The new Spanish Minister for Public Works and Transport announced the decision to cancel the tender process to privatise the management of Spain’s two main airports, Madrid Barajas and Barcelona El Prat. The reasons for the decision have been put down to a negative time for the markets and a desire for the value of the assets to increase in the future.

The 2011 price increase is 0.5 percentage points below the 3% inflation rate of 2010 thanks to a drop in the price of fuel and oil and the leveling off of tobacco prices. Inflation in December 2011 was 0.2 points higher compared to December 2010.

Foreign tourists generated a record amount of revenue last year. The number of visitors also grew by 5.7% in 2011, according to the Catalan Government. Furthermore, Catalonia’s stand at Europe’s most important tourist fair, FITUR, has been declared the best in the current campaign.

The President of Barcelona’s Chamber of Commerce hopes others will join them by adopting a model that combines both public and private cooperation to offer companies new services such as a fund of €2 billion for loans or access to a world network of 1,500 chambers of commerce. With this new model, the Chamber wants to leave the past two years of budget cuts behind, focus on the future, be more useful to its members and offer added value services.

The Catalan airline will invest €325 million in increasing the number of destinations and frequency of its flights from Barcelona El Prat Airport. Vueling will base 28 planes at Barcelona, after having bought 5 new aircraft. These initiatives demonstrate that Vueling continues with a strategy to consolidate Barcelona Airport as “a true hub” for intercontinental flights. The Catalan airline expects that up to 2 million of its passengers will change flights at Barcelona.

The Irish low cost airline, Ryanair, has announced it will transport 3 million passengers through the Girona-Costa Brava Airport, where it will operate a total of 59 routes. Ryanair’s Vice President, Michael Cawley, explained that after a long negotiation process an agreement has been reached with the Catalan Government. “It’s not 100% our agreement, it’s not 100% the Government’s agreement, so it’s probably a good agreement” he said ironically. Ryanair and the Catalan Government have been arguing over the last year about the airline’s presence in Girona and Reus airports.

Hoteliers around Catalonia faced a difficult Christmas tourist season with occupancy rates that were below 50% in some areas. The only exceptions could be found in areas where snow attracted skiers, such as Val d’Aran and adjacent counties. In those areas there was an occupancy rate of between 70% and 85%. Rural tourism suffered its poorest results and does not forecast a recovery for 2012.

At the end of 2011 there were 614,244 people registered as unemployed in Catalonia, 9.17% more than a year ago. However, unemployment dropped in December by 1,425 people, after it stabilised in November, leaving September and October as the worst months of the year. In stark contrast to Catalonia, the rest of Spain experienced an increase in unemployment in December and 2011 ended with 4,422,359 people signing on the register, 7.86% more than at the end of 2010.

Car sales drastically decreased last year, with the only exception being luxury vehicles. Less than 120,000 cars were sold in Catalonia, a figure similar to that of 1993. In Spain as a whole, car sales fell by 17.7%.

The current authority of five cruise ship terminals at the Port of Barcelona will manage the Asian terminal from 2012. The new Singapore terminal will handle the biggest cruises in Southeast Asia, with ships up to 300 metres long and with a capacity of 6,000 passengers