Sutuwa Economic Crisis Worsens

The article focuses on the economic repercussions of the collective Zepata crisis that began at the end of July. Local economic sectors incurred direct losses estimated at over 33 million euros by the end of August, with significant declines in trade revenues (53%) and in restaurants and cafes (50.7%). The tourism sector also experienced a sharp downturn, with demand decreasing by 90%, and hotel activities and maritime transportation significantly reduced, evidenced by a roughly 30% drop in the number of travelers via Baleària in August. Companies and workers were also affected, with 74% of businesses making changes to their workforce, and extraordinary expenses surpassing 80 million euros were incurred to cover security costs, social services, and the crisis's impact on the city’s image, investor confidence, and visitor attraction. Overall, the study indicates that the crisis has led to both direct and indirect losses, with projections of total losses reaching 170.1 million euros due to decreased confidence and reduced economic attractiveness of Ceuta.

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