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Iberia > International

Iberia focus: New world order

The rise of the Big Four in Spain and the projected opening-up of the Portuguese market to multidisciplinary practices could irrevocably disrupt the legal ecosystem in Iberia. Can the traditional firms keep pace?

Posted on 14 December 2022 09:30am20 February 2023 09:48am
Daniela Costa and Lucas Sperka
International Iberia

The past three years have been nothing but challenging for Portugal and Spain. The neighbours, whose economic and social development are hugely reliant on the hospitality and tourism sectors, were hit hard by the series of government-mandated lockdowns imposed to battle soaring rates of infection in 2020. But fast forward to 2022, and the outlook has shifted dramatically.

Emerging from what could understatedly be described as a turbulent period in 2020, with a 10.8% economic downturn, the Spanish legal sector has successfully regained its footing and competitive outlook. While the pandemic meant a constriction of the economy was inevitable, it ultimately provided an opportunity for significant year-on-year growth.

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