Global Economic Crisis and Spanish Wine, Portugal Pay Attention
I received today a press release that I want to discuss with the caveat that you please provide feedback and thoughts in the comments.
FEV, The Spanish Wine Federation, is a private group dedicated to tracking, promoting and defending the image of Spanish wine both nationally and abroad. In Spanish, they emailed me a decent newsletter full of information on Spanish wine sales and conferences which they host to discuss issues relevant to the industry.
In today’s press release from the FEV:
“Márgenes y Estrategias en la Industria del Vino” - Las empresas del vino analizan en Madrid los efectos de la crisis en el sector
“Margins and Strategies in the Wine Industry” - Wine Businesses analyze in Madrid, the effects of the economic Crisis on the Wine Industry
The “crisis”, as it is called in Spain, refers to the downturn in world markets that we are all surely aware of. However, it is far beyond a crisis here in Spain, and getting worse. High unemployment, expensive housing and immigration issues are all starting to take a toll on the Spanish economy. So far, we have not seen this become a huge issue within the wine industry, but it will eventually, so any preemptive talk is welcome in my opinion.
To the release: It states that 150 businesses in the wine sector helped support a study at the international level, focused on both the competitiveness of the Spanish wine sector and the current key markets for wine sales. They first took a look at a new report presented by Rabobank on the need for wineries to balance profitability and investment to ensure a healthy future. I believe you can find information on the report here, though there is no …
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