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In Spain the ability and resilience of Spanish managers is demonstrated once again. Companies such as Inditex, Santander and Seat, have produced or financed the manufacture of necessary healthcare products to help in the crisis as so many other small companies have done.
Even better is the response of society, impeccable in complying with the measures proposed by the experts, the motivation to help and collaborate with those who need it, and the prompt adaptation to work online from one day to another.
There is still a non-alignment between business and government, as they are each influenced by their ideology in decision-making as opposed to overt business interests.
The high dependence on tourism makes the IMF’s outlook very pessimistic for Spain – with a drop in GDP of 8% and an expected unemployment rate of 21%, but the determination, work capacity, and leadership of our executives will clearly be pivotal to a faster recovery.