Spain is one of the countries with the greatest opportunities to establish a successful business. So, take paper and pencil and we will tell you which are the main industries in which you should invest in Spain in 2021.
The world is changing and advancing at a speed never seen before. Technology and digitalisation are transforming companies and making them more competitive, and after the arrival of the pandemic crisis, countries increased their efforts to incentivise the reactivation of the economy, offering benefits to procure investment and development in their countries.
Although starting a business has always been a challenge, the reality, and we are not going to lie to you, is that the Covid-19 crisis – which has drastically affected the world economy – adds an additional factor to this challenge. But also, this crisis means a change of course that forces us to move and to look for new opportunities, not only to come out of the crisis with flying colours, but also to re-emerge with new ideas that help to make “the new reality” more and more encouraging.
At this point, it is important to evaluate the different sectors that have benefited from this crisis, thanks to the innovation of strategies and the capacity for adaptation that business leaders have had to adopt in order to move forward and reactivate the economy.
Innovation is the new currency
We can observe how some companies have changed their traditional structures to adapt to the new scenario, such as all those that have adopted teleworking, while innovative business models emerge, stand out and are installed.
This is how different ideas, ventures and large projects are emerging that have started to become the most profitable sectors in 2021, and with good projections for the coming years, where information and communication technologies will play an important role in their realisation and development.
In addition, the globalisation that we have faced throughout our recent history has allowed these business ideas to not only stay in one place on the planet, but to expand to different latitudes, increasing opportunities, benefits for consumers and, of course, profitability.
What are the most profitable industries in Spain in 2021?
Healthy lifestyles were already on the rise, but after we recognised how vulnerable we were thanks to the pandemic, consumers – even the most sceptical – became much more aware of the importance of maintaining good health.
Living a healthy lifestyle has been popular in Spain for several years now, and in the 2019 edition of the Bloomberg Healthiest Country Index the country was ranked the healthiest out of 169 economies, based on factors that contribute to the overall health of the population.
Therefore, investing in a business that offers a variety of options for a healthy and balanced diet, including vegan, vegetarian options, natural juices and even the production of ecological or organic products, which are produced without the use of chemical elements that can damage the health of those who consume them and/or the environment, are excellent business bets in Spain today.
Technology and digital industry: application development
Technology in general, but more specifically mobile and computing devices, have occupied a prominent place in our society in recent decades, but after confinement they became our main (and almost only) means of keeping in touch with the rest of the world.
And among so many things that happened, the most logical thing happened: digital consumption in Spain increased by 28% in 2020 compared to the previous year, a figure that will continue to grow in 2021. This brought a great opportunity for the technological development sector, with apps being one of the most successful areas and is projected to be one of the great industries of the future, with the greatest growth and profitability.
And nowadays, we can solve everything with an app! The best thing about this industry is that despite the infinite number of applications of all kinds that we have at our disposal, needs continue to arise and therefore, the opportunities to do business from them are also infinite.
Among the most popular apps are those related to productivity, administrative procedures, buying and selling platforms, payments, among thousands of others that solve everyday logistical problems, but those related to entertainment and leisure are also very profitable. Can you think of any ideas for developing your app and launching it in Spain? If so, you will be interested to read Spanish consumer habits in 2021.
Distribution industry: shipping or delivery
One of the big winners after the pandemic, shipping and/or delivery companies. By car, by motorbike, by bicycle and even on foot! are some of the ways millions of companies have adopted to keep their business on foot – and boy, have they done wonderfully!
The growth in demand due to confinement, coupled with digital media channelling, has caused an unprecedented boom in the industry. Before 2020, 54% of Spaniards regularly used delivery as a form of consumption, mainly for food services. After the pandemic, almost 70% of Spaniards adopted this form of consumption, not only in the food industry but also in clothing, technology, household appliances and more. They have greater confidence in doing business online, and the convenience of having it delivered to their homes without major complications is attractive to the public.
Experts assure that this market behaviour will continue in the same line, which implies a real opportunity to undertake a profitable business that ensures solid profits and in which we do not have to invest a large amount of money.
As we mentioned earlier, health and wellbeing became especially important in people’s lives after Covid-19, and it was already a robust industry that had been growing exponentially over the last decade. According to a survey conducted by the Ministry of Education, Culture and Sport, 69.4% of Spaniards are concerned about taking care of their health in order to live longer, and at the same time 67.5% of them are very concerned about their physical appearance.
For this reason, in Spain this sector is highly competitive, but it also offers different business models such as “low cost” or “premium” to attack the market niche that most interests you. However, despite the fact that sports centres are very popular, in reality it is not necessary to have a large establishment, you just need to have the right knowledge and you will be able to run your business in any available space, and even do it virtually. After the pandemic, digitalisation has also swept through the industry and both businesses and consumers have adapted to this way of staying active.
If you are interested in investing in this industry, don’t miss this section of Statista where you will learn about all the key aspects you will want to know to approach your project.
Another fitness spin-off industry: Sports clothing
All of the above has led to a remarkable increase in the demand for sportswear in all its styles. Big brands such as Adidas or Nike have been major beneficiaries of this cultural transformation, but the way has also been opened for small manufacturers or startups that are developing new models with very efficient technology to meet the needs of this growing market.
According to Statista figures, this industry is expected to have a turnover of 191.6 billion dollars by the end of 2021.
The health sector: The big player in the post-Covid-19 era
After 2020, what used to be one of the many priorities for the population has become the number one priority: health. And although it seems logical, the advances in the healthcare industry have been unprecedented, and the particular context has brought about many changes and accelerations in different health-related activities.
One of the major factors that has helped this progress to be so fast and effective is undoubtedly technology, different innovative developments and the ease of being connected through the network, have accelerated the progress of sectors such as: telemedicine, biotech and health tech.
Any business idea oriented towards preventive medicine, mental and physical health care, offering personalised and specialised care both remotely and at home, will have a high probability of success in Spain in the near future.
So, the question is, what’s the next big business or investment opportunity you’ll be joining this year?