Spain's architectural industry, like many sectors, has faced its share of challenges, particularly in recent years. However, it's also a resilient and innovative field that's poised for growth despite the hurdles it encounters. In the five years leading up to 2021, the architectural activities industry demonstrated steady revenue growth at a compound annual rate of 5.8%. This promising trend was, unfortunately, disrupted by the ongoing COVID-19 pandemic, which resulted in an expected decline to its adverse economic impact – a total of 4.7% during the worst of the pandemic.
Nevertheless, Spain's architectural landscape still harbors potential, especially with a recovering construction sector. We’ve already seen the resilience of the industry that followed the last major financial crisis in the country (2014), which halted construction and left many professionals with no line of work for years. The sharp decline in architectural revenue was deeply felt at that time. Thankfully, the architectural sector saw years of double-digit growth as it entered an active phase of recovery, showcasing its ability to adapt and thrive.
The pandemic is still expected to exert its influence over the industry with experts anticipating a decrease in revenue over the coming years. This projection is attributed to the long-term ramifications of the COVID-19 crisis, which have affected the ability of architectural firms to secure new projects. As projects in this field typically span an extended period, the current dearth of new orders could result in a reduced workload in the future. It’s also important to note that the ongoing war in Ukraine is further exasperating problems to do with the cost of power and materials for construction.
Outside the financial realm, Spanish architects are keeping in line with current trends that concern sustainability and adaptive reuse. Right now, there’s a new generation pushing forward what’s possible with new technologies.