Spain has one of the most attractive domestic markets in Europe, with 46 million potential consumers, on top of the 60 million tourists who visit this country every year. Indeed, Spain is the world's 13th largest economy in terms of GDP and 5th largest in the European Union.
Moreover, it must be highlighted that, in terms of purchasing power, Spain's per capita income is significantly higher than that of some other major economies ranked above Spain. In other words, in terms of purchasing power, the Spanish market is larger than many of the more consolidated and dynamic emerging economies.
Spain's privileged status as an EU Member State also affords free access to the world's largest market (EU-27) with 500 million inhabitants and per capita income of USD 29,851. This means potential investors can benefit from:
Spain also constitutes an optimum port of entry for obtaining privileged access to the entire Mediterranean area, North Africa and, of course, Latin America, a region with which we enjoy deeply-rooted economic, historical, linguistic and cultural ties.
Consequently, the highly internationalised profile of the Spanish economy has enabled us to become a key platform for international business. Indeed, Spain is the world's 11th largest recipient of foreign investment, which highlights the important role played by foreign investment within the Spanish economy.
Spain offers business opportunities for foreign companies in sectors and activities of high added value, which is extremely attractive for FDI due to its strong growth potential. Over the last 5 years, 1 in 3 projects received have been in sectors of high technological value and a high level of R&D&I, such as ICT, the environment and water treatment, biotechnology and health sciences, aeronautics and aerospace or the automotive industry.
Spain also has a well-developed business sector boasting a high degree of internationalisation and offering valuable opportunities to collaborate in third markets. Many Spanish companies operate on five continents and are known the world over. Indeed, Spain is the world's 11th largest investor in terms of stock and the 2rd major investor in Latin America.
The greater competitiveness of Spanish exports, mainly due to the fall in unit labour costs, the increased number of export companies and an orientation towards new markets are all factors that help explain why, in 2013, the combined exports of goods reached 315,518 million USD- an increase of 6.9% over the previous year - and reveal the best figures since records began in 1971. Spain is among the top 20 exporting countries in the world and the 7th largest exporter of commercial services.
Last updated: 16|01|2015