Across Alicante, the latest figures on business formation reveal a steady economic ascent. Since the start of the year, 1,730 new companies have joined the manufacturing landscape, supporting at least 24,424 jobs. Services, followed by construction, are the most dynamic sectors, while agriculture shows a slight dip due to a widespread downturn in harvests. The data indicates a continuing expansion cycle that began eighteen months ago, despite ongoing challenges like the war and inflation in Europe.
According to the Ministry of Labor and Social Economy, the SSI records a total of 61,728 registered companies as of May 31 this year, up from 59,998 at the end of 2022. The services sector remains the largest contributor with 46,668 companies, reflecting a rise of 1,306 during this period. Tourism remains a key engine, with hospitality and hotel activities driving growth. Following services, construction shows resilience even amid higher mortgage costs. Strong demand from foreign buyers for housing adds 269 new entities, bringing the total to 7,045. Industrial activity has grown more slowly, given the higher capital needs for new ventures. Notably, a recovery is seen from 87 firms that exited the market, lifting the count to 6,025.
In agriculture, the number rose only slightly, with a two-company net change leaving the sector at 1,990 entries. The generally bad harvest season and accompanying heat, droughts, or irregular rainfall have weighed on the sector this year.
Employment trends moved in parallel with company formation. The province now supports 539,380 jobs, up from 514,956 at the end of 2022. Services account for 404,592 jobs, up by 19,868; construction employs 37,738 workers, up by 2,027; and industry provides 82,696 positions, up by 2,719. The agricultural sector remains at 14,354 workers, reflecting a decline of 190.
Company formation in the province accelerated and increased by 10 percent in the first quarter
Paloma Taltavull, a professor in the Department of Applied Economic Analysis at the University of Alicante, notes that the latest figures confirm a sustained expansion trajectory that began after the pandemic shock. She explains that the service sector performance tracks closely with tourism health, while construction growth is concentrated mainly along coastal zones. The industry sector, which does not experience a seasonal pattern, also shows notable momentum. According to the expert, these data underscore the province’s economic resilience in the face of global pressures and rising costs.
Bankruptcy cases fell by 30.3 percent
Bankruptcy proceedings in Alicante province dropped to fewer than 140 in the first five months of the year, a decline of 30.3 percent from the same period last year. This shows greater resilience than in the months immediately after the pandemic, when volatility was higher due to economic uncertainty. The decrease also exceeds the national average of 24 percent. mv