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Spain’s economy in 2025 remains robust, with a GDP of $1,827.58 billion and an inflation rate of 2.94%. The average monthly income has grown steadily from €2,159 in 2010 to €2,554 in 2023. However, wages have stagnated since 2022, indicating possible economic slowdowns.
The cost of living has surged to €2,000 per month in 2025, reflecting a significant 4.2% rise compared to 2024. Housing remains the largest expense, rising by 10.2% to €800, driven by increasing rental prices. Food costs have also seen a sharp 9.2% increase, reaching €500.
Despite wage stagnation, Spain continues to experience rising living costs, particularly in housing and food, signaling affordability challenges for residents.
Let’s take an in-depth look at Spain’s economy, income levels, and living costs from 2010 to 2025. Get detailed insights on rent, food, and other expenses.
Country Overview
| Aspect | Details |
|---|---|
| Capital | Madrid |
| Population | 47.8 million (2025) |
| Currency | Euro (€) |
| Official Language | Spanish |
| GDP (2025)⤤ | $1,827.58 Billion |
| Inflation Rate (2025) | 2.94% |
| Average Monthly Income (2023) | €2,554 |
Living Cost Per Month (2025)
| Expense Category | Cost (€) | Percentage (%) |
|---|---|---|
| Housing | 800 | 38% |
| Food | 500 | 24% |
| Transportation | 200 | 10% |
| Utilities | 150 | 7% |
| Healthcare | 100 | 5% |
| Entertainment | 150 | 7% |
| Miscellaneous | 100 | 5% |
| Total | 2,000 | 100% |
Average Monthly Income (2010-2023)
| Year | Average Monthly Income (€) |
|---|---|
| 2010 | 2,159 |
| 2011 | 2,192 |
| 2012 | 2,225 |
| 2013 | 2,258 |
| 2014 | 2,291 |
| 2015 | 2,324 |
| 2016 | 2,357 |
| 2017 | 2,390 |
| 2018 | 2,423 |
| 2019 | 2,456 |
| 2020 | 2,489 |
| 2021 | 2,522 |
| 2022 | 2,555 |
| 2023 | 2,554 |
Living Cost Per Month (2010-2025)
| Year | Living Cost (€) | Growth (%) |
|---|---|---|
| 2010 | 1,500 | – |
| 2011 | 1,530 | 2.0% |
| 2012 | 1,560 | 2.0% |
| 2013 | 1,590 | 1.9% |
| 2014 | 1,620 | 1.9% |
| 2015 | 1,650 | 1.9% |
| 2016 | 1,680 | 1.8% |
| 2017 | 1,710 | 1.8% |
| 2018 | 1,740 | 1.8% |
| 2019 | 1,770 | 1.7% |
| 2020 | 1,800 | 1.7% |
| 2021 | 1,830 | 1.7% |
| 2022 | 1,860 | 1.6% |
| 2023 | 1,890 | 1.6% |
| 2024 | 1,920 | 1.6% |
| 2025 | 2,000 | 4.2% |
Note: The significant increase in 2025 reflects recent economic changes and inflation rates.
Breakdown of Housing and Food Costs (2010-2025)
Housing (38% of Living Cost):
| Year | Housing Cost (€) | Growth (%) |
|---|---|---|
| 2010 | 570 | – |
| 2011 | 581 | 1.9% |
| 2012 | 593 | 2.1% |
| 2013 | 605 | 2.0% |
| 2014 | 616 | 1.8% |
| 2015 | 627 | 1.8% |
| 2016 | 638 | 1.8% |
| 2017 | 649 | 1.7% |
| 2018 | 660 | 1.7% |
| 2019 | 671 | 1.7% |
| 2020 | 682 | 1.6% |
| 2021 | 693 | 1.6% |
| 2022 | 704 | 1.6% |
| 2023 | 715 | 1.6% |
| 2024 | 726 | 1.5% |
| 2025 | 800 | 10.2% |
Food (24% of Living Cost):
| Year | Food Cost (€) | Growth (%) |
|---|---|---|
| 2010 | 360 | – |
| 2011 | 367 | 1.9% |
| 2012 | 374 | 1.9% |
| 2013 | 381 | 1.9% |
| 2014 | 388 | 1.8% |
| 2015 | 395 | 1.8% |
| 2016 | 402 | 1.8% |
| 2017 | 409 | 1.7% |
| 2018 | 416 | 1.7% |
| 2019 | 423 | 1.7% |
| 2020 | 430 | 1.6% |
| 2021 | 437 | 1.6% |
| 2022 | 444 | 1.6% |
| 2023 | 451 | 1.6% |
| 2024 | 458 | 1.5% |
| 2025 | 500 | 9.2% |
Conclusion
Spain’s economy has seen steady wage growth over the past 15 years, but the cost of living has increased significantly, particularly in housing and food. Inflation in 2025 has pushed living expenses higher, leading to a more expensive lifestyle. However, compared to other Western European nations, Spain remains relatively affordable for both residents and expatriates.
Sources:
Numbeo: numbeo.com
World Bank: data.worldbank.org
OECD: oecd.org
IMF: imf.org
World Data Info: worlddata.info
