In recent years, Ceuta has undergone a major economic shift with the support of the Spanish government. The city aims to become a key economic player in the region by replacing lost revenue from cross-border trade and establishing itself as a hub for various industries. This transformation is driven by both post-Brexit opportunities and global market dynamics.
Local institutions are working hard to transform Ceuta into a center for online gaming, technology companies, and the green sector. The government of Juan Vivas is promoting support measures to facilitate the establishment of new companies in these sectors, offering favorable fiscal regimes and specialized training for new investors.
In response to the challenges posed by Brexit and Gibraltar’s reduced competitiveness as an economic hub, Ceuta is intensifying efforts to attract technological investments. Changes to corporate taxes and the adaptation of tax regimes to European VAT standards aim to make Ceuta a more attractive destination for technology companies.
Companies like Entain and Flutter have already transferred their licenses to operate in Ceuta, taking advantage of the tax benefits offered by the city. This has attracted not only gaming companies but also contributed to economic growth and job creation in Ceuta. The influx of technology and gaming companies is injecting vitality into the local economy, leading to increased demand for commercial and office spaces, which benefits local owners and investors.
While there are some concerns within Ceuta about the expansion of the gaming sector, particularly from localist formation “Ceuta Now!,” who raises moral and social concerns about gambling promotion. However, organizations such as the Ceuta Chamber of Commerce play a crucial role in promoting economic development in the city, attracting investments and promoting Ceuta as a center for investment opportunities.
Overall, despite some opposition within Ceuta regarding its expansion into different sectors such as gaming industry ,the positive atmosphere created by this shift has led to an increase in newly established companies and planned projects in ceuta making it one of Spain’s fastest growing cities economically speaking .