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The company creation rate in the province of Málaga has reached a 19-year high: nearly 600 new companies were established every month in 2023. A total of 7,105 new trading companies were established in Malaga this year, an increase of 11.5% compared to 2022.
The latest data released by the Institute of Statistics and Cartography of Andalusia (IECA) show that real estate, construction and hospitality are the most active sectors.
Despite a slowdown caused by rising interest rates and international geopolitical uncertainty, these figures are still the highest since 2004, when the economic boom began at the beginning of this century. In addition, the number of new companies created in 2023 is still much higher than the number of dissolved companies (about 1,200 for the whole year).
From an industry perspective, real estate and tourism-related services are business drivers, accounting for the majority of new startups. Real estate agency and property management are currently the most prominent business areas, accounting for more than 20% of the total.
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