MADRID – Foreign investment (FDI) in Europe is leaving behind the economic crisis caused by Covid-19. The number of announced projects increased by 5% at the end of 2021. Furthermore, Spain is among the most popular countries for foreign investors.
This is evident from the latest EY European Attractiveness research report. Therefore, Spain remains one of the favourite countries for investors. Furthermore, at European level, it ranks fourth with 361 foreign investment projects. That is 2% more compared to 2020.
However, despite representing growth, the numbers are still a long way from pre-pandemic. Moreover, at that time, 486 projects in Spain were reached.
Invest in Spain
The Autonomous Communities leading the classification of projects attracted in 2021 are;
- Madrid (150)
- Catalonia (89)
- Andalucia (46)
- Comunidad Valencia (24)
- Aragón (12)
- Castilla La Mancha (10)
- Castilla y León (9)
- Basque Country (8)
- Galicia (3)
- Extremadura (3)
- Murcia (2)
- Canary Islands (2)
- Balearic Islands (2)
Subsequently, software & IT services (76), Transport & Logistics (44), and Finance (39) were the most developed by sector.
Strong competitiveness
“Keeping Europe’s fourth position in attracting foreign investors for another year continues to demonstrate Spain’s strong competitiveness in the European market. And that is why the country continues to play in the first division of the countries with the best qualities to attract investments. It’s a single market made up of 47 million consumers, plus 68 million international tourists a year,” Curro Rahola, EY Markets Director, told elEconomista.es.
Determining factors for economic development
The expert from the consultancy emphasises that those foreigners who invest in Spain have been a determinant of economic development in recent decades. However, this is with the exception of the interruption caused by the pandemic.
“Competitive country with great growth potential”
“Despite the circumstances and all the homework that we still have to do, Spain remains a competitive country and above all with great growth potential. Factors such as the favourable climate contribute to increasing investment in sectors such as tourism. These factors are also an opportunity for other sectors such as renewables, where we are already ninth in the world in terms of investment attractiveness,” says Rahola.
“Other relevant factors are also relative legal, social, economic stability or the recognised health system,” concludes the consultant.
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