Increased tourism and a growth in the area's construction sector in the past decade has helped Valencia to buck the economic downturn seen in much of Spain. The majority of people in the city (84%) work in service roles, but positions in manufacturing have increased recently thanks to more companies being drawn to the region.
One particularly large local employer is the Ford Motor Company, which opened a factory in the Almussafes region in the early 1970s and nowadays employs more than 7,000 workers. Estimates suggest that the plant contributes around 8.7% of Valencia's total economic output. Another large employer is the Port of Valencia, which is the biggest sea hub on Spain's eastern coast and handles around a fifth of the country's exports.
Heading closer to the outskirts of the city, expats will find that agriculture remains important and there are many orchards and citrus groves. However, the sector is currently in decline due to imports from overseas and the attraction of jobs in more modern industries.
Most expats working in Valencia are employed in education and hospitality, but there are also opportunities available in manufacturing provided a person has the required skills. Often, applicants will be expected to have a firm grasp of Spanish as this is the language of business in the city. Valencian may be spoken by many locals, but it is rarely a requirement for employment.
Those looking for work in Valencia should regularly view the listings in the city's newspapers. The largest of these is the Levante El Mercantil Valenciano, but the smaller daily Las Provincias is also worth checking out.
Employment seekers could also try their luck browse job listings websites, with the following proofing good resources for English speakers:
Finding a job is much easier for expats moving from other countries in the European Union, as labor laws dictate that EU residents are given freedom of movement, meaning they can work in any member state without a visa. Those moving from outside the EU will be required to obtain a work permit. Applications are typically handed by the local labor office, but expats can also obtain support from their nearest embassy.
Spain has two rates of taxation depending on a person's legal status in the country. For nationals and those moving from other EU countries, the lowest tax rate is 19% rising to 47% for high earners.
Residents income tax rates based on yearly income are as follows (2015):
Non-EU residents are required to pay a basic rate of 24.7%, also rising to 47% on the same scale.
Those earning less than 9,180 EUR are given a tax allowance of 4,080 EUR. Income below 13,260 EUR receives the same allowance as well as a 35% reduction on earnings down to 9,180 EUR. The allowance for people with a salary over 13,260 EUR is 2,652 EUR.