By Tyler Durden
12 June 2014
First Italy, then Britain, and now Spain has decided that the key to reducing its debt-to-GDP ratio is not fiscal responsibility, growth, inflation, or restructuring but simply changing the denominator to better reflect reality - in other words, as El Pais reports, Spain is putting an official number on its sex trade and therefore juicing GDP. Prostitution, which is in legal limbo in Spain, is expected, according to revised figures released by the INE on Thursday Spanish GDP increases by between 2.7% and 4.5% after illegal activities such as prostitution, drug trafficking and smuggling are included. The Spanish government is undertaking a sexual services survey to better understand the industry...
As El Pais reports,
Several months ago two researchers from Spain’s National Statistics Institute (INE) paid a visit to the headquarters of an association called Heteria - the organization that works to protect the rights of sex workers - looking for a way to estimate how much money prostitution contributes to the Spanish economy.read more
The government has been working to measure a part of the illegal economy, and incorporate it into the official calculation of Gross Domestic Product (GDP). This week it revealed its results: according to revised figures released by the INE on Thursday Spanish GDP increases by between 2.7% and 4.5% after illegal activities such as prostitution, drug trafficking and smuggling, together with other methodological changes, are included.