26 Apr

Spain: your partner in Europe. Business opportunities (Report by ICEX)

ICEX – Invest in Spain has just published the last report “Spain: your partner in Europe. Business opportunities”. These are some of the main conclusions:

– Foreign Companies in Spain account for more than 40% of the total industrial turnover yearly and 23% of the industrial employment. International Export Services from Spain -excluding Tourism- to third markets reached more than 60 Billion € in 2017. More than 120 Billion € including Tourism.

– According to WTO Spain ranks 11th Worldwide. Spain is the 2 nd country worldwide in revenues and the 1 st in Europe.

Spain ranks 2 nd in tourist arrivals worldwide and 2 nd in Europe.

– US, UK, French, Italian and German Companies are the largest investors in Spain.

– Increasing investment in Europe from UK and France; Asia, from China and Latin America: especially from Mexico, Brazil, Colombia and Argentina.

– Over 12,500 foreign companies in Spain across all economic sectors. 70 of the FORBES Top 100 companies have branches and 90 out of 100 top R&D Companies has a subsidiary according to Thomson Reuters

– Domestic market of over 46 million consumers: Spain has a GDP per capita (PPP) above the EU-28 average.

– Spain grants free access to the world´s largest market, the European Union: more than 500 million consumers

Spain & Latin America
Spain is the best European platform for doing business with Latin America:
17 Agreements to Avoid Double Taxation in Central and South America: Argentina, Bolivia, Brazil, Barbados, Chile, Colombia, Costa Rica, Cuba, Dominican Republic,
El Salvador, Ecuador, Mexico, Panama, Jamaica, Trinidad & Tobago, Uruguay and Venezuela.

20 Agreements for Reciprocal Protection and Promotion of Investments Argentina, Colombia, Costa Rica, Cuba, Chile, Ecuador, El Salvador, Guatemala, Honduras, Jamaica, Mexico,
Nicaragua, Panama, Paraguay, Peru, Dominican Republic, Trinidad & Tobago, Uruguay and Venezuela.

Excellent communications and infrastructure: Madrid concentrates around 35% of total air traffic between Europe & Latin America.

Spain is also a suitable platform within the European market for doing business with North-African, Mediterranean, and Middle East countries:
21 Bilateral Agreements to Avoid Double Taxation
18 Bilateral Agreements for Reciprocal Protection And Promotion of Investments

Click here for further information about this report by ICEX. And remember that if you are thinking about set up a company in Spain, or if you have workers in Spain, don´t hesitate to contact our team of experts.

By: Estela Martín

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