This is referring to standard of living, easiness of doing business, economic stability and future perspectives in terms of power and quality of life.
Answer on What country is economically better, Spain or Italy?
Spain appears to be better from what I've read.
Spain: "The economy of Spain is the ninth-largest economy in the world, based on nominal GDP comparisons, and the fifth-largest in Europe.[8] It is regarded as the world's 15th most developed country. Until 2008 the economy of Spain had been regarded as one of the most dynamic within the EU, attracting significant amounts of foreign investment.[9] Spain's economy had been credited with having avoided the virtual zero growth rate of some of its largest partners in the EU.[10] In fact, the country's economy had created more than half of all the new jobs in the European Union over the five years ending 2005, a process that is rapidly being reversed.[11]
More recently, the Spanish economy had benefited greatly from the global real estate boom, with construction representing an astonishing 16% of GDP and 12% of employment in its final year." [source: Wiki]
Italy: Though the 8th largest economy in the world, the Italian economy is suffering at the moment and in near recession due to the country's sovereign debts.
Quality of life is better in Italy, ranking 17 in the HDI compared to Spain's ranking of 19.
