Italians and Spaniards feel like cousins: similar languages, Catholicism, the Mediterranean diet, a passion for football and outdoor life, and a long shared history, from Spanish rule over Naples, Sicily, Sardinia and Milan to today's thousands of Erasmus students. That is why comparisons between the two countries are a recurring theme in the press, especially since 2007, when a Spanish "overtaking" was first discussed.
Growth
After the great crisis of 2008-2013, which hit Spain harder than Italy, with the bursting of the property bubble and unemployment above 25%, Spain bounced back faster. According to Istat and Eurostat data, between 2015 and 2025 Spain's real GDP grew by about 21.6%, Italy's by 12.6%. In 2024 Spain grew by 3.7% and in 2025 by over 2.5%, Italy by 1.1% and 0.6% respectively. Spain was driven by tourism, service exports, cheap renewable energy and strong immigration, which pushed its population above 49 million (see the Spanish economy).
Richer or more dynamic?
Much of Spain's growth, however, is due to population increase. Measured at constant prices, Spain's GDP per head remained around 89% of Italy's in both 2015 and 2025. In terms of purchasing power, though, the gap narrows, because the cost of living is lower in many parts of Spain (see the cost of living).
Jobs and wages
| Indicator | Italy | Spain |
|---|---|---|
| Unemployment 2015 | 12% | 22.1% |
| Unemployment 2025 | 6.1% | 10.5% |
| Youth unemployment 2025 | 20.6% | 24.9% |
| Real wages 2025 vs 2015 | -3.1% | +5.2% |
| Public debt/GDP 2025 | about 137% | about 101% |
Italy has lower unemployment, but also a lower employment rate, especially among women. Spain, still among the EU countries with most unemployed, has seen real wages rise, helped by big increases in the minimum wage and the 2021 labour reform, which cut temporary contracts (see working in Spain). Spain's public debt is much lower than Italy's.
Shared weaknesses
The two countries share structural problems: one of the lowest birth rates in the world, an ageing population, young people struggling to find housing and stable work, and sluggish productivity. In Spain the most pressing issue today is rent prices, which have risen fast in big cities and tourist areas (see the property market).
What they can learn from each other
Italy can look to Spain for infrastructure, starting with Europe's largest high-speed rail network, for renewable energy, digital public administration and the ability to attract young people and immigrants. Spain looks to Italy for its manufacturing base, household savings, widespread artistic heritage and the added value of its food products. The contest is open, and it benefits both.
Data sources: Istat and Eurostat, as compiled by Money.it in 2026.