With so many eyes on Spain and the Catalan independence movement, the business world in Spain is already feeling the impact of the political climate. Spaniards inside and outside Catalonia are using their purchasing power to express their political stance and companies are making tough choices, like whether to maintain headquarters in Catalonia. Reputation Institute’s team in Spain recently launched a study to gauge the temperature of the business climate and discover what might lie on the road ahead.
3 Major Findings from Catalan Independence Study
The crisis occurring in Catalonia creates a reputational risk for companies that have their headquarters in Catalonia. Here are some of the study’s major findings:
- Companies that have moved their HQ out of Catalonia due to the independence crisis have maintained their reputation in Spain (except for Catalonia); on the other hand, these same companies have a loss of 8 points in reputation from the Catalonian people.
- 23% of Spaniards are declaring that they have already decided not to purchase Catalan products. Another 21% declared that they haven’t yet boycotted but will quit purchasing Catalan products in future.
- If independence takes place, 50% of Spaniards declare that they will not purchase Catalan products. The impact for these companies will be €20 billion.
Get the full Catalan Independence Study
Download the full study to see research from both the point of view of Spaniards outside of Catalonia and from within Catalonia. What has been the impact on business to date and what can we expect in future?
Download in Spanish:
El Impacto del Desafío Independentista en la Reputación de las Empresas Catalanas
Download in English:
Catalonia’s independence crisis and its impact on Catalan companies’ reputation
Catalan Independence in the News
- el Periódico: Un estudio detecta el boicot a los productos catalanes
- Expansión: El 23% de los consumidores de fuera de Cataluña ya no compra productos catalanes
- Austrian Economics Blog: The Price of Chaos Rises in Spain
- Wolf Street: Spain Just Lit a Fuse Under Catalonia — its Richest Region