Spain Listed Fourth Most Attractive Country for Foreign Investors
According to a recent report by auditing company, Ernst & Young, Spain registered a growth in foreign investment in 2012, with an increase of 0.4% in new international projects, and established itself as the fourth most attractive country for investors.
In addition, Spain received 7.2% of all of the European Union projects, which is two tenths more than in 2011, after commencing work on 274 projects during 2012, which generated 10,000 jobs.
By country, the United States, Germany and the United Kingdom were those which invested most in Spain, and by sector, the favourites were from the services, software and financial sectors.
However, Ernst & Young’s 2013 “European Attractiveness Survey” also highlights that, despite the difficult situation for investment due to low consumption and austerity measures, the increase in competitiveness has encouraged investors’ confidence.
“We have demonstrated that we are a competitive economy and that we are continuing to improve productivity, although our country still has much room for improvement in attracting investors,” said the Chairman of Ernst & Young Spain, José Miguel Andrés, in a statement.
Europe remains the largest recipient in the world for the number of projects, although its market share has dropped six tenths, to 22.4% of the total, according to the United Nations Conference on Trade and Development.
Ahead of Spain for the number of projects are the United Kingdom, Germany and France, although in the first two countries foreign investment grew in 2012 by 2.7% and 4.5%, respectively, while in the third it fell by 12.8%.
El Mundo reported that, according to the survey, 38% of the companies analysed plan to invest in Europe in 2013, “because despite the uncertainty, investors expect greater economic integration and less regulation”.