Spain: the Canada of Europe?

An economic comparison of two vastly different countries, with important elements in common

Luis Seco, University of Toronto

Country comparison

• Canada • Spain

Country numbersOlympic medals (2008) GDP

A comparison with numbers

• Population: 33M

• GDP: $1.4T

• Olympic Medals in 2008: 18

• Number of Universities: 90

• Top University Ranking: 27

• Unemployment rate: 8%

• Population: 45M

• GDP: $1.3T

• Olympic Medals in 2008: 18

• Number of Universities: 70

• Top University Ranking: 201

• Unemployment rate: 20%

Macroeconomic comparison

Macroeconomic comparison (with France)

Financial Market Comparison

• S&P-TS 60 • IBEX 35

Canada – Spain Comparison

Consumer D

iscretionary

Consumer S

taples

Energy

Financia

ls

Health Care

Industrials

Information Tech

nology

Materials

Telecommunica

tion Servi

ces

Utilities

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

CanadaSpain

Spain’s Financial Sector

2008 2011

Lessons to learn?• In 2011:

Topic for discussion: Will you have to look for a job in Spain in 2015?