Spain v Argentina: a grand final between two growing economies
The Iberian country is one of the most dynamic in the Eurozone, whilst Buenos Aires is on a clear upward trend after years of deep crisis
Tonight, at the New York New Jersey Stadium in East Rutherford, it will be the talent of Lamine Yamal and Messi – (perhaps) making his final major appearance on the world football stage – that will decide who lifts the Cup, in a match that promises to be a very closely fought affair.
Off the pitch, the two countries go into the final with growing economies and better prospects than the average for other countries in their respective regions. These results have, however, been achieved through very different paths.
Spain, in fact, heads into the World Cup on the back of one of the most dynamic economies in the Eurozone. Having recorded GDP growth of 2.8 per cent in 2025, Brussels forecasts a 2.4 per cent increase in 2026, driven by domestic demand, investment and an expanding labour market. Inflation, although it has risen due to higher energy prices, remains under control and is estimated at 3 per cent in 2026. Public debt also continues to fall gradually, dropping below the 100 per cent of GDP threshold. The drivers of Spanish growth are tourism – which continues to break records for international visitor numbers – advanced services, the automotive industry, renewable energy and the digital sector, with Madrid and Barcelona becoming increasingly attractive to investors and tech start-ups.
Argentina, on the other hand, heads into the final at a time of major transformation. After years marked by extremely high inflation and financial instability, the country led by Javier Milei is undergoing a process of stabilisation that is beginning to yield results at the macroeconomic level. According to the International Monetary Fund, Argentina’s GDP is set to grow by 3.5 per cent in 2026 following the rebound in 2025, confirming the economy’s return to a path of expansion. The IMF also maintains a positive outlook on the South American country’s economy for the coming years. In its latest World Economic Outlook report, the organisation kept its GDP growth forecasts for Argentina unchanged, predicting a 4 per cent increase in 2027.
The most significant figure relates to inflation. After exceeding 200 per cent in 2023, the annual rate had fallen to around 33 per cent by mid-2026 – a marked improvement, although it remained at very high levels by international standards.
