Spain: 7th most digitized country in Europe

Spain currently ranks as the seventh most digitized country in Europe, a significant achievement in today’s technological context. Below, we will explore how this position influences its economic landscape and the opportunities it offers. Want to discover how digitization is transforming Spain? Read on for relevant information.

Spain ranks seventh in terms of digitalization

Spain maintains its position as the most digitally advanced country in the European Union. This is shown by the recent Digital Economy and Society Index (DESI) published by the European Commission.

In this year’s report, it ranks seventh. It outperforms Estonia, Germany, France, Austria, Italy, Portugal and 14 other states. Although it ranks behind Finland, Denmark, the Netherlands, Sweden, Ireland and Malta.

In this index, which ranks the level of digitalization of EU countries, Spain has moved up two positions. This is shown in this graph:

One of Spain’s most notable advances in the DESI index is its progress in the adoption of digital technologies. It ranks eleventh, five places higher than in the 2021 report.

In addition, it advanced two positions in public digitalization, reaching fifth place. Also, for the second consecutive year, it consolidates its position as one of the leaders in the EU in terms of digital connectivity. It occupies the third position in the report.

However, in terms of human capital, Spain ranks tenth. This compares with twelfth place the previous year.

According to this edition of DESI, Spain leads on one key point. The proportion of people with at least basic digital skills in Spain is 10% higher than the EU average. It shows 64% compared to 54% on average. However, the percentage of specialized ICT professionals is slightly below the EU average. With 4.1% compared to 4.5%.

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Investment, digitalization and Gross Domestic Product (GDP)

According to the report, digitalization in Spain has provided a significant boost to the country’s Gross Domestic Product (GDP). Reaching 7.5 billion euros. An achievement that covers the period between 2013 and 2018. 

This significant economic impact can be attributed mainly to the considerable investments made by companies in the sector. 

Over the past two decades, these companies have maintained an annual average expenditure. One that amounts to the figure of 5.5 billion euros, which consolidates their crucial role in promoting digitization and its positive impact on the national economy.

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Why invest in Spain?

Spain, recognized for its diversity and abundant investment opportunities, has generated interest among both domestic and international investors. Especially in the context of increasing digitalization.

Focusing on the year 2023, there are several compelling reasons to consider investments in the country. These include an increase in interest rates, exploiting sectoral opportunities and investing in government fixed income. In addition, the flexibility to invest in various industries and services, such as renewable energy and the stock market.

However, as with any investment, a detailed analysis is essential. Consider seeking the advice of a financial expert before making a decision. Plus, if you are thinking about how to invest in Spain, here are the main reasons why you should take the leap:

Growing digitalization

Spain is in a leading position in terms of digitalization in Europe. This indicates a favorable environment for investments related to technology and digital transformation.

Contribution to GDP

Digitalization has contributed significantly to Spain’s Gross Domestic Product (GDP). Totaling €7.5 billion over a five-year period (2013-2018). This economic growth is attractive to potential investors.

Sustained investments

Companies in the sector have maintained sustained investments over the years. Spending an average of 5.5 billion euros per year since 1998. This consistency in investment demonstrates stability and an environment conducive to new investments.

Innovation and technology

Investments in Spain can take advantage of an innovative and technological environment. Always supported by the growing digitalization and adoption of advanced technologies in various sectors. 

Potential for continued growth

With the steady improvement in the digitization classification and continued investments in the sector, there is a clear potential. Especially for sustained economic growth in the future.

Leading digital connectivity in the EU

Spain is positioned as one of the leaders in digital connectivity in the European Union. This offers opportunities for investors interested in digital infrastructure and connectivity services,

Advanced human capital

Spain has a human capital that is advancing in terms of digital skills. This is essential for growth and innovation in today’s digital economy.

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Digitalization is propelling Spain into the future, consolidating it as a leader in Europe in this aspect. Now that you know how this position can impact your projects and ventures, why not take the next step?

If you are considering entrepreneurship in Spain and want expert advice, don’t hesitate to ask for it – get ready to take your vision to the next level in a digitally advanced environment! Request your consultancy now.