The 'economic miracle'

• The Stabilisation plan of 1959 marked the beginning of an economic transformation. The Spanish economy began to grow. 1960's the Spanish economy experienced a take-off. Early 1960's was a period of sustained economic growth. Spain's economy grew at a rate of 7% per annum, which was faster than any non-communist economy with the exception of Japan. The economic boom was due to ending autarky. This allowed the economy to benefit from foreign investment, migration and tourism.