The Brexit will affect the Spanish economy too. British people bring around 256.000 millons of euros yearly to the Alicante province. These make us the province more affected by Brexit. 150 millons of euros has been lost during last year and the prevision in case of a hard Brexit is that we will loose up to 130.000 millions of euros as a consequence of the collapse of the pound.

The Spanish cabinet has approved recently a law to palliate the Brexit consequences, adopting measures to save the economic relationships between both countries. However, it is a temporal regime, that it would finish once the period indicate in the legal rule is over. This temporal regime is based in reciprocity.

We strongly recommend to companies to have a Contingency measures plan ready for the Brexit.

In the following link you can find a document published by the European Comission with recommendations about the different aspects than companies should have in mind to be ready for Brexit to come:

https://publications.europa.eu/es/publication-detail/-/publication/911242b6-af69-11e8-99ee-01aa75ed71a1/language-es/format-PDF