You mean the conclusion of the reconquista kicked off the voyages of discovery? I hope that is what you meant.
Actually, it was the conquest of Constantinople that was the trigger. No Constantinople, no access to the Spice Road, pressing desire to go the long way around.
The fall of Constantinople was important historically. Economically it was about as inconsequential as can be imagined.
Constantinople for more than a century before its fall was only a minor city-state, surrounded and totally overshadowed by the Ottoman Empire, of which it was a vassal.
Western Europe had been cut off from the Orient for many centuries by Muslim states: Turkish, Mamluk, Fatimid. It was the policies of those states with regard to trade that affected spice prices in Europe. Frequently they got stupidly greedy and raised prices to the point that they strangled trade.
Why did Constantinople get the works?
Stymied in his ambitions to get Protestants in England to attend Catholic services he assembled the Catholic kingdoms fronting the Mediterranean and sailed off to destroy the Turks ~ which he did. He didn't liberate the Balkans but the Turks were no longer able to keep Western Europeans from sailing into Eastern harbors.
Next thing you know he died in 1598 and his son, Philippe II/III came up with a brilliant solution to the American problem. That problem was it's impending depopulation to a point where no one could conduct any sort of trade in the region.
Philippe II/III proposed to the principle powers that North America be divided up among his relatives in Russia, France, Portugual, Spain and Scotland. A large but otherwise desolate region (we know it as the Eastern Seaboard) would be parceled out to Protestants.
This was all put into a document called the Treaty of London (1604). There's a lot of detail in it including how Protestants should behave in Catholic areas, and how Catholics should behave in Protestant areas.
Sounds trivial to us but in the 17th century this was incredibly advanced thinking.
With everybody in Europe behind the idea of developing North America, mass migrations began, agriculture resumed, the world was saved and the King of Spain retired to a gentleman's life of leisure and travel. He just didn't have the fire his father had, but then again, he wasn't his father's man.
Leaping ahead several centuries, the European powers dismantled the Ottoman Empire and its former claims and created several dozen new countries out of the former Islamic Caliphate.
The Jews returned to Israel ~ after nearly 2,000 years. The atom bomb was invented. Lots of stuff happened!