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Spain, a major European economy
Open and dynamic. Since the COVID-19 crisis, the Spanish has surpassed the growth rate ofits european counterparts in 2021 and 2022. Moreover, in 2023 spanish GDP presented a growth of 2.5%, five times higher than the european average according to the Statistical National Institute.
With a GDP of $1,4 trillion, Spain is the 4th economy of the EU and the 14th in the world.
Spain is the 13th recipient of foreign investments in the world.
More than 18,366 foreign firms have set up their business in Spain.
70 out of 100 top companies in Forbes Global 2000 operate in Spain.
Spain is the right place
for international expansion
Access to a large market
Large domestic market. The Spanish market comprises 48 million inhabitants and over 85 million visitors in 2023.
European market. Unrestricted access to the European market with its more than 500 million consumers and world’s highest purchasing power.
Access to LATAM (more than 600 million consumers) and MENA (500 million consumers).
Africa, Middle Eastern and Latin America
Market
| Total population (million people) | |
|---|---|
| Spain | 48 |
| European Union | 448.4 |
| Latin America | 659 |
| Middle Eastern and North African | 493 |
Source:
EUROSTAT, World Bank.
Spain is the gateway
to the European Union, North African, Middle Eastern and Latin American markets
International business
platform
The Spanish business sector is highly internationalized. Partnerships with local companies offer excellent opportunities to enter other markets.
Spain is the 11th largest global exporter of commercial services, recorded at $115 billion.
Exports of Goods and Services as a share of GDP
Source:
Eurostat 2019 (data, 2018)
Foreign multinationals established in Spain are responsible for approximately 40% of Spain's total worldwide exports.
Exports of goods and services by Geographical Destination
Source:
Secretary of State for Trade (data, 2019)
Export of commercial services (excluding Tourim) by country of destination
Source:
Secretary of State for Trade (data, 2019)
Attractive business
climate
The OECD FDI Regulatory Restrictiveness Index ranks Spain as the 10th country in the world with the least restrictive regulations for international investments.
FDI Index
Foreign investments in Spain do not require previous approval, as a general rule, with the exception of investments in activities that affect public security, public order and public health.