Catalina Espinosa
Research expert covering society, economy, and politics for Europe and the EU
Inequality in Spain - Statistics & Facts
During the last decades of the 20th century and the beginning of the new millennium, the Spanish population benefited from the economic growth experienced by the country. However, the financial crisis of 2007-2008 put an end to the illusion of never-ending growth. Since then, globalization, job market deregulation, stagnant salaries, job insecurity, and the dismantling of the welfare state, among other factors, have widened the gap within Spanish society. Currently, Spain is one of the most unequal nations in Europe, and income inequality in the country is forecast to remain identical in the near future.
Wealth in Spain
During the first years of the 21st century, the share of wealth held by the richest population in Spain decreased slightly while that of the poorest half grew marginally. Nonetheless, this trend was reverted after the crisis and, as of 2023, the top ten and one percent had a larger share of wealth in Spain than they did two decades prior. In 2023, the average personal wealth of the richest one percent was valued at 5.16 million euros, which almost equated to one fourth of the national wealth. Meanwhile, the bottom 50 percent held an average wealth of merely 14,760 euros, equivalent to six percent of the national wealth.The "lost generation"
One of the most conspicuous dimensions of inequality in Spain is the generational one. Even the economic expansion experienced between 2014 and 2019 meant little for the Spanish youth, as the so-called "lost generation" still suffers the repercussions of the financial crisis. With this generation another group appeared: the "ninis" (ni estudia ni trabaja, neither working nor studying), which encompassed young people who studied in the past but failed to find a job, as well as dropouts in the same position. Those who find a job despite the high rates of unemployment struggle with low salaries and temporary jobs.The gap between the elderly and the youth
Those whose age is below 30 have a poverty rate which exceeds 30 percent, the largest share amongst all age groups and around ten percentage points higher than the rate among the elderly population. And while the net income of the youth recovered to the levels registered in 2009 (equivalent to less than 1,000 euros a month), the average monthly pension has increased over 40 percent in the last decade. With millennials, the idea that each generation would live better than the previous one ended, as the problems they have been facing will have a lasting impact on their future quality of life.The many faces of inequality
Spain faces particular challenges which prompt inequality beyond social classes and generations. The country must also tackle the gender pay gap, regional discrepancies, and origin-based discrimination.
