Spain was the second destination for Italian investments abroad in 2022, according to the “Barometer of Italian investments in Spain” prepared in 2024 by the Bank of Italy. Specifically, Italian multinationals invested 43 billion euros in Spain and, according to the “Barometer, context and perspectives of Spanish investments in Italy”, also published this year, they created more than 100,000 direct and indirect jobs.

Spain was in addition the seventh largest investor in the transalpine country, with Foreign Direct Investment (FDI) flows of around 19 billion euros, generating over 70,000 jobs. These data were shared at a recent conference organised in Madrid by the corporate and investment bank Intesa Sanpaolo, which specialises in energy and infrastructure investments.

Investments in strategic infrastructure
The purpose of the conference was to analyse the economic outlook for Italy and Spain in the European context, with a special focus on the energy transition and the importance of investments in strategic infrastructure. As Mauro Micillo, Head of IMI Corporate & Investment Banking, explained, “We strongly believe that investments in strategic industries like energy and infrastructure are key factors for sustainable economic development and for promoting Europe's competitiveness”.

The executive also took advantage of the meeting to highlight Intesa Sanpaolo's role in the Spanish market, where it is among the top ten banks when it comes to syndicated loans, and said that, as a group, “we intend to further strengthen our commitment to the Spanish market and confirm our support for the country's multiple business realities”. Having celebrated its 50^th anniversary in 2023, the Madrid branch is one of the bank's main branches in Europe.

Basis for sustainable development
One of the main conclusions of the meeting held at the Italian embassy in Madrid was that the energy and infrastructure industries are crucial for growth, as they provide the basis for sustainable development, improve competitiveness and drive economic innovation in both Spain and Italy.

Spain's commitment to reducing its dependence on foreign energy sources could save over 340 billion euros alone in imports over the next three decades. In fact, together with Italy, Spain is among the leading markets for renewable energy sources in Europe.

^{Photo: Intesa Sanpaolo}