Spain worried about a hefty euro

The Spanish Chambers of Commerce warned today that a strong euro and its stepped-up value against the U.S. dollar will wind up doing a number on the tourist sector and the manufacture industry.

The segments that are supposed to weather the storm of the upturning euro much better are the makers of precision instruments, pharmaceuticals, chemicals, machinery and ceramic products.

According to Spain’s Chambers of Commerce, the abovementioned assessment stems from the fact that a stalwart European currency makes a significant dent in goods and services whose competitiveness relies on price tags.

Though a punch-packing euro gnaws at companies’ sales overseas, experts believe this trend also offers a loophole for investment in brand-new equipment.

High-tech goods and services with some kind of additional value –the Chambers of Commerce say- won’t be hit that hard by the European currency’s peaks and valleys because in their cases, price is not a determining factor in the selling process.