The Travels of Don Juan Carlos: Key to Spain's Economic Growth

The presentation of the book "Anchor of Barlovento: The Official Trips of Juan Carlos I and the Economic Growth of Spain," held on December 19, 2024, at the Rafael del Pino Foundation, highlighted the impact that King Juan Carlos's travels had on the Spanish economy during his reign, which lasted from 1976 to 2014. The work is the result of extensive research led by Professor Elena San Román, who, along with her co-authors, analyzed how the monarch's diplomatic efforts contributed to a remarkable 4.1% increase in exports during the studied period. Elena San Román emphasized that the figure of the King provided institutional stability that allowed Spain to position itself as a reliable partner in the international arena. During critical moments of the Transition, his leadership facilitated Spain's reintegration into the global community, being essential for establishing diplomatic relations with other countries and opening markets for Spanish companies. Throughout his reign, King Juan Carlos undertook a total of 226 official trips, aiming to both strengthen Spain's presence abroad and promote its economy. The research suggests that the repeated visits to specific destinations not only reinforced diplomatic ties but also resulted in an increase in Spanish exports, particularly in the context of Spain's integration into the European Economic Community in 1986. This integration not only modernized the economy but also attracted foreign investments that were crucial for the country's economic development. The explorations in the work reveal that Europe and Ibero-America were the regions most visited by the King, noting that the initial trips had a political focus, but over time they solidified within an economic framework. In Ibero-America, the monarch made 62 visits, promoting not only Hispanic heritage but also supporting democratization processes that benefited the region. The authors emphasize that this diplomatic action allowed Spain to become the second-largest investor in Ibero-America, only behind the United States. Regarding foreign direct investment, the research indicates that the King's travels had a significant impact on the international perception of Spain as an attractive market, facilitating the influx of foreign capital. Moreover, it highlights how Spanish companies, thanks to this external opening, achieved successful internationalization, balancing the dynamics of being both recipients and emitters of investments. The importance of teamwork during the research has been fundamental, according to San Román. The diversity of perspectives among the authors allowed for a broader and more enriching analysis, addressing history and economic institutions from multiple angles. In their presentation, both Carlos Espinosa de los Monteros and Miguel Ángel Aguilar underscored the significance of the King's role in creating and strengthening the Spain brand. However, despite the economic achievements, the collective memory of King Juan Carlos often focuses on his role during the Transition. The book aims to broaden that perspective, highlighting the positive impact he had on the country's economic growth through his active diplomacy. This legacy, according to the authors, deserves to be recognized and valued in its entirety. For the future, Professor San Román suggests the need to investigate more deeply how King Juan Carlos's diplomacy influenced the creation of the concept of Hispanic heritage and how his son, King Felipe VI, is following a similar path with a focus on contemporary issues such as the environment and migration. The relevance of foreign action in creating the Spain brand remains current and deserves attention. In conclusion, the exhaustive work presented in "Anchor of Barlovento" highlights the importance of King Juan Carlos's travels not only as a tool for political representation but also as an essential engine for Spain's economic growth. His legacy, which combines politics and economics, should be remembered as a crucial chapter in the recent history of the country, where the figure of the monarch stands as a symbol of stability and modernization.