Spain: your partner in Europe. Business Opportunities (Recent report by ICEX)
ICEX (Invest in Spain) has just published the report “Spain: your partner in Europe. Business Opportunities”, which talks about the macroeconomic situation and structural reforms in Spain, the business climate and business opportunities. These are some of the figures and conclusions explained in this report:
– Spain is the world’s 14th-largest economy and the 5th-largest economy in the EU: GDP worth 1.4 trillion USD
– Spain is the 11th-largest exporter of commercial services worldwide and the 16thranked exporter of merchandise trade.
– Multinationals in Spain account for more than 40% of total exports from Spain to third Markets. Total exports from Spain amounted 277.2 Billion € in 2017.
– Foreign Companies in Spain account for more than 49% of the total industrial turnover yearly and 33% of the industrial employment
– US, UK, Italian, French, German Companies are the largest investors in Spain.
– Increasing investment in Europe from UK and France; Asia, from China and Latin America: especially from Mexico, Brazil, Colombia and Argentina.
– Over 12,500 foreign companies in Spain across all economic sectors. 70 of the FORBES Top 100 Companies have a production or R&D site located in Spain and 90 out of 2016 top 100 Global Innovative Companies have a subsidiary, according to Thomson Reuters
– Domestic market of over 46 million consumers: Spain has a GDP per capita (PPP) above the EU-28 average.
– Spain grants free access to the world´s largest market, the European Union: more than 500 million consumers.
– Spain set to be one of the fastest growing large advanced economies in 2017. This is a cautious forecast. Spanish economy has outperformed growth expectations in the last few years.
Setting up a Business in Spain
– National Treatment: In Spain, foreign investors are accorded exactly the same treatment as Spanish investors, with no discrimination as regards the type or size of the investment. Foreign investments in Spain do not require, as a general principle, any prior authorization, nor do they require any kind of administrative verification.
– There are a wide range of possibilities to match the needs of the different types of investor who wish to invest in or from Spain. An international investor is free to choose between the numerous alternatives that offer the Spanish Law.