44% of entrepreneurs believe that political uncertainty is the main risk to the economy

Spanish businessmen are concerned about the impact that regulatory changes may have on their businesses, which are raised as the main threat to the Spanish economy. Thus, 44% of the directors of Spanish companies places political uncertainty as the main threat to the Spanish economy in the next twelve months, followed by the legal insecurity, which is mentioned by 40%, as well as the regulatory changes, which are concerned at 34%, according to the Spain 2025 ‘Perspective Survey carried out by KPMG in collaboration with CEOE, which this year reaches its twentieth first edition.

Juanjo Cano, president of KPMG in Spain, has assured that “the Spanish economy has been having a good performance, and the forecasts suggest that it will maintain this 2025 trend, although more moderately. Given this scenario, Spanish companies have room for keep investing in its transformation, Optimize your operations and further maximize your income, although all this in an environment of growing uncertainty derived from the complex geopolitical panorama.

For its part, Antonio Garamendi, President of CEOE, stressed that “economic forecasts reflect greater optimism than in previous years, but, if we want to continue growing in a sustained and robust manner and dealing with the challenges that the digitalization and decarbonization of the economy pose, We need a framework that favors business activity. An environment that favors legal and regulatory certainty, without high and changing fiscal loads and without increasing labor costs, which allows the private sector to develop all its potential to generate wealth, create employment and win in competitiveness ».

Despite doubts, 71% of companies expectations expect to increase sales and 30% expect to do it above 5%, which binds that 53% will increase their investments. These good prospects will also be partly transferred to employment since 42% plans to increase template, two percentage points more than in 2024.

This year 2025 seems to be consolidated as the Definitive takeoff of generative AI According to 85% of the managers surveyed, they have invested or will invest in it in the coming months, compared to 54% of last year.

By sectors, differences are appreciated since, while more than 80% of the respondents of Insurance, Tourism, Banking and Real Estate qualify Or excellent the current situation, in automotive the percentage falls to only 20%, the result of the model crisis in which this industry is mired.

Balearic Islands, Andalusia and Aragon They are the autonomous communities analyzed in which the most entrepreneurs and managers expect to increase their turnover, while Galicia, Community of Madrid, Balearic Islands and Aragon register the best job creation forecasts.

As for the internationalization, Spanish companies continue to bet on it as a growth route, as evidenced by the fact that 43% of managers indicate that their organization has a presence in other markets and will increase it this year, to which a 2% of respondents are added that states that this exercise will begin its expansion process.

The sectors that show a greater international vocation are Food, drinks and other consumer, industry and technology goods. The main destinations of these investments in Europe are France and Germany, with 28% and 24% respectively, followed by the United States, with 39% and Mexico, with 29%. In this regard, it should be noted that the Spain 2025 Survey was carried out after the result of the elections in the United States was known, but when the scope of the measures that the current US administration is not yet known.