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Having learned both Spanish (Spain) and Spanish (Mexican) for a few years each, I can say I really could not tell much difference. I'm not even close to fluent though but I will say the Spanish (Spain) was all classroom and the Spanish (Mexican) was all immersion by travelling there for weekend trips and then living in northern Mexico for a few months. I am fairly certain though, that I enjoy learning Latin American Spanish more though. :)
I perfer mexican or the americas spanish. It is close to home and I am use to it more. I hear it more on tv and movies, music like in my salsa.. I think they both are hard to learn being an english speaker but I favor it more.
I have recently moved to panama and am learning spanish but I've recently discovered that panamanian spanish is heavily accented. Some other foreigners had mentioned this to me and I really experienced it today when I was given directions to a street name I know well but it took 3 repetitions before I recognized the name. I think I'll do better working with columbians until I reach an intermediate grasp of spanish.
I understand latinoamerican accent much better than european, especially the Mexican one. So it's easier for me.