Since 2018, Ceuta has undergone a significant transformation in its economic and productive activities with the support of the Government of Spain. The city aims to replace lost revenue from cross-border trade and establish itself as a key economic player in the region. This shift is driven by post-Brexit opportunities and global market dynamics. Local institutions are working to transform Ceuta into a hub for the online gaming sector, technology companies, and the green sector.
Ceuta’s economic transformation is a response to the need for new avenues of economic growth following the cessation of cross-border commercial activities on the Tarajal border with Morocco. This trade, often classified as “contraband” by Morocco, had been a significant source of income for many in northern Morocco and had a major impact on local tax collection when it ceased. The government of Juan Vivas is promoting support measures to facilitate the establishment of new companies in Ceuta, focusing on the gaming and technology sectors.
In light of Brexit’s challenges and Gibraltar’s reduced competitiveness as an economic hub, Ceuta is intensifying efforts to attract technological investments. The local government has implemented a favorable fiscal regime and offers support in establishment procedures and specialized training for new investors. 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 transferred their licenses to operate in Ceuta, taking advantage of the tax benefits offered by the city. This has not only attracted companies in the gaming sector but has 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.
Despite some opposition within Ceuta about expanding gambling promotion through moral concerns raised by “Ceuta Now!”, this movement plays a crucial role in attracting investments and promoting Ceuta as an essential center for investment and economic development. A positive atmosphere has led to an increase in newly established companies and planned projects in Ceuta due to its ability to provide numerous opportunities for entrepreneurs looking to expand their businesses globally.
Overall, this transformation is bringing significant changes that will help make Ceuta an important part of Spain’s economy while creating jobs locally.
