The central characters are Lawrence accompanying Horo in search of his homeland, both protagonists are very charismatic and with a chemistry that makes the romance engaging. In that sense, see how their relationship blossoms along the journey and how one influence on the other is not only fun but rewarding.
The story is surprisingly cool, focused on being an adventure where to find the location of the land of Horo they need to investigate manuscripts and collect information. However, knowledge has power and especially value for merchants who hold the documents, so Lawrence often ends up being swallowed up by the commercial dispute that is taking place between those who have the material in possession.
In this sense, it's really cool to see how the conflicts are constructed, being more strategic than really physical, where the antagonists have a great presence and malice that makes the protagonists feel pressure in a suffocating way.... However, unfortunately the author doesn't close as much well the conflicts in the same way that it builds them so it is very common the plot has an ending that borders on the innocent and easy.
The characters in the manga are one of its greatest qualities, it's a power game so the enemy at the beginning can become an ally along the way and that's good because it conveys the human complexity that the merchant profession requires. This is even why simplistic endings weigh heavily at the end of arcs, because the author is very careful in passing characters off as something more human to end up as something shallow.
The art is pretty average, there are moments where it can take pages to be mesmerized and impressive. However, in general, it is more common to be weak in passing movement and expression.
Ultimately, Spice and Wolf is an enjoyable novel with engaging arcs and, unfortunately, a simple ending. Having an average art that rarely delivers anything of impact, at least it has its perfect ending for those looking for a good romance.
