According to the number of UK nationals officially registered as ‘living in Spain’ in 2024, Spain is one of the favourite destinations for Britons. Although Brexit has influenced a recent decline since 2022, Spain remains a popular destination for British retirees and younger people who want to work and live abroad. This guide will explore how you can earn money in Spain as a British expat.
Spain’s Top Economic Activities
Spain’s $1.4 trillion GDP makes her the fourth largest economy in the European Union and 14th globally. The economy saw a strong recovery move in 2024, with over 500,000 jobs added. Data from Spain’s Ministerio de Empleo y Seguridad Social shows that 2024 had the highest number of people employed in Spain’s history, with over 21.3 million people. These figures reflect positively on Spanish stocks, as data from TradingView shows.
Spain’s services and manufacturing (automotive, textiles, food processing, iron and steel, chemical and pharmaceuticals) sectors led the economic surge, with services (transport, tourism, hospitality, and entertainment) accounting for about 450,000 jobs last year. Spain attracted over 90 million visitors in 2024, and its economy steadily recovered.
Spain’s agricultural sector is also an economic powerhouse for the country. From wheat to olives, grapes, cork, citrus fruits, tomatoes, sugar beet, barley, and livestock, agricultural produce accounts for around 3.2% of global agricultural exports.
How To Make Money as a Brit in Spain
If you’re a Brit living in Spain, you have many opportunities to explore the country’s formal and informal opportunities to make money. While you need capital to invest, you can deploy your skills or academic qualifications to get a job. Here are some jobs you can do.
Online Trading/Investment
Spain has a 96% internet penetration rate and will reach 98% by 2029, and is a major player in global financial markets. This opens many opportunities for investing in financial markets from the comfort of your home. As a Brit in Spain, you can trade forex, crypto, shares, indices, and commodities through a broker operating across Europe and globally.
When trading online, watch out for opportunities driven by Spain’s and the Eurozone’s economy, such as the recent increase in private consumption driving economic expansion. Keep an eye on economic calendars and watch key levels for macroeconomic indicators, such as GDP, inflation, and interest rates.
Side Gigs/Businesses
With a more positive GDP growth prediction, Spain’s economy offers many opportunities for side gigs and mini businesses, especially online and remote work. You can do private tutoring, private schools, souvenir shops, online coaching, summer jobs, au pairing or babysitting, selling antiquities, and other such jobs. If you have the funds, you can flip property, where you buy, renovate, and resell properties.
These jobs are best for supplementary income, especially on a short-term basis. It takes longer to turn out big profit margins that can eventually become your primary income. Some jobs, such as English tutoring, may require additional verification, especially for formal settings.
Invest in Spain’s Economy
If you have the capital and don’t mind long-term businesses, you can explore Spain’s economy to find offline investments. Spain’s real estate is pricey, especially in major cities where you can work as an expat agent bringing deals for companies. The country’s golden visa program is another opportunity to invest in Spain, obtain residency, and gain greater freedom to do business.
You can explore a compliant Bond, invest in a fixed, high-interest product, or even transfer your pension to receive tax benefits.
Work Formal Jobs
Bring your formal training and educational qualifications to work a formal job in Spain. There is an increased demand for workers in finance, information and communication technologies (ICT), renewable energy, healthcare, hospitality, construction, etc. Understandably, the formal sector is challenging for a Brit to work in. But if you are there long, consider that path for a stable income.
As a non-EU/EEA worker, you will need a work authorisation and other permits for most formal jobs.
Work as a Digital Nomad
The digital nomad visa allows expats to live and work in Spain after meeting certain conditions, including a minimum income amount (€2,762 per month or €33,144 per year), health insurance, work experience, employment contract, etc. This opportunity could unlock your financial advantages thanks to tax benefits and other incentives.
You can find jobs from local and foreign job boards, ask for recommendations, and explore platforms like LinkedIn to connect with founders and business owners.
Tips for Working in Spain
Spain’s beautiful culture, weather, and people are worth moving from the UK, especially if it’s your first visit. To make the most of it, prepare to learn Spanish to integrate with the people and find more work opportunities. Stay updated on UK tax laws to know what taxes could apply to your foreign income.
Ensure your documents (living, working, travelling, etc.) are updated and available at short notice. Keep up with local regulations, employment laws, and tax rules to stay safe and avoid scams targeting foreigners (yes, they do exist).
Spain’s job sector is highly competitive for professionals, and landing your preferred job could take a while. Be patient, acquire the right skills, and not be put off or stuck with low-paying jobs for too long. Find and connect with local and online communities of Brits living in Spain to speak with others who are making a life there.
Final Thoughts: Get Professional Advice
Investing in Spain may require specific knowledge outside your field or experience. It is wise to consult a professional to learn where, how, and when to invest in the economy. You’ll make the decisions, so explore all opportunities to gain knowledge and spread your capital for maximum returns. There are challenges, but with careful planning and balanced risk exposure, you can establish a regular income and grow your financial capacity as you explore Spain.
