The impact of independence movement on the Catalonia's business sector

Abstract

Since the Constitutional Court of Spain suspended the unilateral declaration of independence of Catalonia on October 31, 2017, instability and uncertainty has remained in the skies of Catalonia's citizens. This independentist political decision has affected the Catalonia’s business sector in a significant way. This research project analyzes how the "Procés" has impacted in macroeconomic terms and ipso facto the business relocations. It is essential to present this political and social unrest, to better understand the consequences that is having in the economic-social sector and to make better decisions in future conflict resolution. The methodology of this study combines quantitative and qualitative data to ensure objectivity of the results and the corresponding conclusions. The results obtained in this work indicate that the impact of Catalonia's independence movement has considerable consequences, as investment is reduced both at regional and national level. In addition, in the first quarter of 2020, there was a massive relocation of companies, specifically 6,031, from Catalonia to other Spanish and foreign regions. We cannot forget that a referendum is part of a democratic society, a different thing is that, whether it is legal or illegal, its content and its spirit.