Even with the ups and downs of the crisis, Spain is still a country with a growing potential, capable of offering great opportunities to its investors. That said, if you are a foreigner and want to invest in Spain, in this article we will tell you about the most attractive industrial sectors to invest in.
Why invest in Spain?
Despite the recent years of crisis, Spain continues to represent a country of opportunities for many foreign investors who help to internationalize the economy.
France, Italy, Germany and the United States are some of the main countries betting on Spain.
But not only that, just because of its fantastic climate, Spain represents an advantage in itself for some sectors. In addition, its magnificent geostrategic position makes it possible to expand business to other countries in Europe, North Africa and even Latin America.
In addition, its domestic market of 47 million consumers grows every year to 68 million thanks to tourists visiting the country.
In which industrial sectors in Spain can a foreigner invest?
The answer to this question is: all of them. But, if you don’t know them, we will detail each one of them below:
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Currently, the renewable energy sector aims to revolutionize a large part of the international economy. By 2050, Spain aims to achieve decarbonization and live 100% on alternative energy sources, generating employment opportunities as well as economic growth.
The proposed decarbonization of its energy model positions Spain as a leader in the development of renewable energies, both technologically and industrially.
Although the Information and Communications Technology (ICT) sector is a fairly mature sector in Spain, it still has opportunities for growth in several areas.
This sector alone employs more than 440,000 people and has a turnover of more than €101 billion. This makes it the sector with a defined strategic pole in terms of digitization and promotion of crucial technologies in the country (5G, cybersecurity, Big Data, Artificial Intelligence).
Currently, Spain is betting on the ICT sector in a decisive way and its great communications network and infrastructure make it a great choice for ICT-based businesses.
The pharmaceutical and biotechnology industry in Spain has become one of the most dynamic and competitive at international level. Thanks to its innovation in health technologies and the large size of the market, it offers great potential for development.
What makes this sector ideal for the investor’s eye is its solid scientific base, highly qualified human capital, state-of-the-art technology, infrastructure, government support and integrated healthcare system.
It is not for nothing that the agri-food industry ranks first in the country: it has proven to be persistent and strong in the face of difficulties. In addition to this, its turnover exceeds €129 billion and the source of employment it represents for more than 500,000 people.
Spain is ranked number 4 as an agri-food power in Europe and number 10 worldwide. Thanks to the wide range of quality and products it offers, it enjoys great prestige in international markets.
The automotive and components sector is a classic and mature industrial sector in Spain and not in vain represents 10% of the country’s GDP, as well as 18% of total Spanish exports.
Nearly 2 million jobs are related to the automotive industry, and of these, 300,000 are direct jobs.
In all of Europe, Spain’s production plants are the most efficient and automated. For every 10,000 employees, there are 1,000 robots. Brands such as General Motors, Volkswagen, Renault, among others, rely on the high capacity of Spanish factories.
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In this sector, Spain ranks fifth in Europe in terms of sales volume and number of people employed. It is also recognized for its high growth and significant investment in research and development.
The aeronautical companies that have established themselves in the country stand out for their aircraft, military transport, low pressure turbines, maintenance activities, etc.
In addition, it is important to mention that Spain is a member of the European Space Agency and participates in its main programs, which gives this sector the opportunity to continue its constant growth.
Transportation and logistics
The powerful network of air, land, rail and maritime infrastructures and their quality of service make Spain stand out worldwide.
This sector represents 7.9% of Spanish GDP and rises to 10% when we add the logistics activities carried out by industrial, commercial and service companies.
The country’s privileged geostrategic position allows it to be where the main goods traffic routes converge. Likewise, the eastward expansion of the EU further favored this position with respect to trade flows.
Spain has more than 500 international awards that endorse the good work of Spain in the audiovisual sector.
This sector plays a key role in the Spanish economy due to its strategic and global nature, as well as its capacity to generate employment and its potential for modernization through digitalization.
The provision of cutting-edge solutions, the diversity of locations, tax incentives and the team of professionals are the elements that attract more international filming to the country.
These are in addition to the large number of national productions that are increasingly being broadcasted on international platforms.
Tourism and leisure sector
After surpassing its own visitor records every year thanks to the 80 million tourists who visit it, Spain is the world’s leading tourist destination after France.
Spain’s success in the tourism industry is due to its vast cultural and natural offerings, as well as its magnificent infrastructure, quality transportation and high hotel density.
Year after year, it reaffirms its competitive position and demonstrates that the tourism industry offers significant opportunities for investors.
Not because it is the last is the least important, the chemical industry sector is one of the most attractive for international investors. In addition, it is a valuable generator of wealth and employment for the country due to the number of companies that make it up and the turnover of 66.4 billion € it had in 2019.
This sector has one of the highest growth projections worldwide and is estimated at 4.5% per year until 2030, enough to meet new international demand.
Some of the factors that make Spain a strategic location for investment in the chemical industry are its high production capacity and industrial tradition, as well as its innovative capacity and the global growth it offers.
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Now that you have a more complete picture, do you know where to take your business idea and make it grow in Spain? If you are ready to take the next step, do not hesitate to contact TAS Consulting, our team will help you to bring your own company to the Spanish territory, in the sector of your choice.