Oriente Medio

The Middle East is currently a focal point of global concern due to ongoing conflicts. These tensions have directly contributed to a significant acceleration in inflation, with prices rising sharply, reaching levels not seen in nearly two years. The conflict is also a primary driver of increased energy prices, affecting sectors like tourism and aviation. Spanish tourism, for instance, is experiencing a positive economic impact due to a "refugee effect" as travelers divert to the region. Airlines are facing challenges in absorbing rising kerosene costs, potentially leading to summer service cuts. Despite a temporary ceasefire between the US and Iran, the underlying instability persists, highlighting the region's critical role in global economic and political stability. The "new war economy" narrative suggests a broader shift in global priorities towards defense and power, with the Middle East at the center of these geopolitical dynamics.