A MASS exodus of Spaniards has taken place to escape the country’s economic woes.
With a 25% unemployment rate and a lack of faith in government, some 700,000 Spaniards left Spain between 2008 and 2012, according to Fundacion Alternativa’s new research.
The institute also revealed another 547,890 departed in 2013, although officials say just 79,306 of them were Spanish.
And it appears a large proportion of those leaving are heading for South American soil as many of the continent’s economies enjoy a rise in economic fortunes.
While Spain’s economy is predicted to grow 1.2% in 2014, Peru is set for a 5.5% increase, with Mexico to see a 3% growth, Chile 3.6% and Panama 7.2%, according to the International Monetary Fund.
Combined with a lower cost of living, the South American attraction is clear.
And in a reversal of history, the Spanish follow a wave of Latin Americans who have themselves returned to the continent after large numbers migrated to Spain in the late 1990s.