If you are a foreigner and you are looking for a new destination to start your own business project, you can’t miss the different sectors that lead FDI in Spain. Read on and discover the opportunities you will find in our country!
FDI attraction in Spain
According to the Annual Report on FDI in Spain for the year 2021, there has been a notable recovery in terms of investments made and a significant growth above the European average.
In this sense, Spain has been characterized as one of the European countries that pays greater attention to promoting the attraction of FDI (Foreign Direct Investment), in order to obtain projects with added value and generate quality jobs in the Spanish territory.
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Main FDI sectors in Spain
Now then, you may be asking yourself, in what areas are FDIs currently focused in Spain? Here are the main sectors that predominate:
With regard to renewable energies in Spain, there is an energy model for 2050 whose main objective is to achieve decarbonization in order to advance in alternative energies and, likewise, to contribute to the generation of jobs.
In order to achieve compliance with the Climate Change and Energy Transition Law, a two-phase action plan has been established:
Information and Communication Technologies
Among the most relevant sectors for investment in Spain are Information and Communication Technologies, also known by its acronym I.C.T. According to the Digital Economy and Societies Index 2021, Spain ranks third in the EU in terms of connectivity.
It is also the seventh country in terms of digital public services, with levels above the European average.
On the other hand, the Digital Spain 2025 Plan bets heavily on digitalization, the boost of 5G technology, cybersecurity, Big Data and artificial intelligence; which makes investments in the technology sector of great importance in the country today.
In Spain, the pharmaceutical and biotechnology industry is considered one of the areas with the highest FDI presence in Spain. According to ICIEX Investin Spain, 60% of the companies in the pharmaceutical sector in Spain are foreign.
We also talked about the existence of large multinationals that chose Spain to develop their Research and Development projects.
In short, the Spanish territory highlights attractive qualities to carry out foreign investments. Among them we can mention:
Highly qualified capital
A solid scientific basis
Integrated health system
In this sense, it is considered that the main FDI opportunities in Spain are ideally focused on fields such as personalized medicine, generation of biosimilars, as well as R&D in health technologies.
With respect to this sector, Spain is positioned as the fourth agri-food power within the European Union, and the tenth worldwide. Not to mention that the quality of its products is positioned within the international market.
It is also a source of employment for approximately 450,000 people and a turnover in excess of 139 billion euros.
Internalization is strongly reflected in the industry, as it is estimated that currently more than 30,000 agri-food companies export food and beverages from Spain.
Likewise, Spanish tourism favors a high volume of gastronomic consumption and contributes to positioning the territory worldwide.
Automotive and mobility
Spain stands out in the automotive sector, occupying the number 2 position in Europe with respect to vehicle manufacturing, and the 8th position worldwide.
Likewise, we are talking about this sector representing at least 10% of GDP, 18% of total Spanish exports, and involving around 2 million jobs, of which 300,000 are directly employed.
If you are looking for reasons to invest in this sector, remember that Spain stands out for automobile manufacturing, has an ideal logistics platform for exports and has the highest rates of modernization, automation and R&D&I in industrial sectors.
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Another favorable sector for FDI in Spain is aerospace, as it is highly developed and ranks 5th in Europe in terms of sales volume and people employed.
It is important to highlight that the aerospace sector is key to internationalization, contributes positively to the Spanish economy, generates quality jobs in the country and represents 1.5% of the total Spanish GDP.
Transportation and logistics
The network of air, land, rail and maritime infrastructures gives Spain a plus for foreign direct investment, which represents 7.9% of Spain’s GDP and an annual turnover in the sector of around 111,000 million euros.
In addition, according to the Logistics Performance Index, Spain ranks 18th worldwide for its logistics performance.
Investing in the Spanish audiovisual industry is an attractive option for foreigners. The country ranks sixth in the EU in terms of the number of titles produced, and fifth in terms of the number of production hours.
The Spain Audiovisual Hub of Europe Plan is a clear example of attracting international talent, an opportunity to invest and to export and compete in international markets.
Tourism and leisure
Spain’s cultural and touristic offer, have made the country an ideal territory for investment and the data confirms it. Since 2017, the country has surpassed record tourist arrivals, being one of the most visited countries in the world.
According to the World Economic Forum, Spain ranks as a leader in the travel and tourism competitiveness index, not to mention that it represents the third country in the world in UNESCO World Heritage Sites.
FDI in Spain related to the chemical industry represents a fundamental factor for the Spanish economy. More than 3,120 companies are estimated with a turnover of 77,241 million euros by 2021, generating at least 710,430 jobs.
In this sense, Spain ranks 4th with respect to multinational projects in the EU, and is considered the destination of greatest interest in R&D&I projects in the chemical industry.
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If you want to keep up to date with the Spanish business world or you are looking to invest and don’t know how to take the first step, our advisors at TAS Consultancy will accompany you in every step you need and guide you through it, click here to get in touch now!