spanish miracle

The Spanish Miracle was the name given to the Spanish economic recovery between 1959 and 1969. The national recovery was bolstered by the interior reforms promoted by the so-called "technocrats" (linked to Opus Dei), accepted by the dictator Francisco Franco and helped by the IMF. Although successful to a degree, the recovery was heavily based on the introduction of foreign products and the opening of Spain as a tourist destination. The miracle ended the period of autarky (closed economy) and could be considered to be the response to the economic crisis of Spain after the Spanish Civil War that the same pro-Franco groups began in 1936. New politicians who did not fight in the war replaced the old Falangists. The recovery led to an increase in (often unplanned) building in Spanish cities to accommodate the new industrial workers brought by rural exodus. One of its symbols was the SEAT 600, the first car for many Spanish families, produced by the Spanish SEAT under FIAT licence.

Spanish Miracle

See also