50
Foundations for Sustainable Growth Investment Trends and Records in Spain Spain: Global Platform for Business and International Investment Invest in Spain May 2020
Foundations for Sustainable Growth
Investment Trends and Records in Spain
Spain: Global Platform for Business and International Investment
Invest in Spain
May 2020
Our NetworkEconomic
and Commercial Offices
(Embassy of Spain)
• Information and Advice: Customized Reports
• Support and Management for FDI Projects
• Financing and Investor Relationship Management
• Business Climate & Development
• Spain Global Business Platform for International Investment
• Promotional Activities and Events
ICEX Spain Trade & Investment
Ministry of Industry, Trade and Tourism Invest in Spain
About ICEX-Invest in Spain
Main Activities
2
1. World’s 13th largest economy and the 4th largest economy in the
EU: GDP worth 1.4 trillion USD.
2. 11th largest exporter of commercial services worldwide and 16th
ranked exporter of merchandise trade in 2018.
3. 2nd country worldwide in international tourist arrivals and in
receipts (1st in Europe). More than 83 million international tourists in
2019 and the expenditure reached 92,278 million euros.
4. 13th largest economy in terms of accumulated inward FDI stock
[659 Billion US$] and 13th in outward FDI stock in the world in 2018.
5. Total population of 47 million. 5 million are foreign born.
6. 22 of the biggest Spanish companies have entries in Forbes
Global 2000 largest companies in the world.
Spain: Key Player in the World Economy
3
Spain in the World Economy
4
Spain in the World
GDPGDP
per capitaPopulation
Trade in Goods
$Billion
Trade in Services
$Billion
Tourism FDI Stock. $Billion
Income $ Tourist Nº Inward Outward
RK Country $Billion RK unit $ RK Millions RK Exports RK Imports RK Exports RK Imports RK Billions RK Millions RK Billions RK Billions
1 United States 20,494.1 9 62,605.6 3 327.4 2 1,666.0 1 2,612.4 1 828.4 1 559.2 1 214,468 3 79,618 1 7,464.7 1 6,474.7
2 China 13,407.4 72 9,608.4 1 1,395.4 1 2,486.7 2 2,135.7 5 266.8 2 525.0 10 40,386 4 62,900 5 1,627.7 3 1,938.9
3 Japan 4,971.9 26 39,305.8 10 126.5 4 738.1 4 748.5 9 192.0 8 200.0 9 41,115 11 31,192 30 213.8 6 1,665.2
4 Germany 4,000.4 18 48,264.0 17 82.9 3 1,560.6 3 1,285.7 3 331.2 3 351.5 8 42,977 8 38,881 8 939.0 7 1,645.4
5 UK 2,828.6 22 42,558.0 21 66.5 10 486.9 5 674.0 2 376.2 5 235.3 5 51,882 10 36,316 3 1,890.4 5 1,696.5
6 France 2,775.3 21 42,877.6 22 64.7 7 581.9 6 672.5 4 291.5 4 256.8 3 67,370 1 89,400 11 824.9 8 1,507.8
7 India 2,716.7 147 2,036.2 2 1,334.2 18 324.8 10 514.5 8 205.1 10 176.6 13 28,568 22 17,427 21 386.4 30 166.2
8 Italy 2,072.2 27 34,260.3 23 60.5 9 546.6 11 500.8 14 121.6 12 125.0 6 49,262 5 62,146 19 431.0 16 548.8
9 Brazil 1,868.2 78 8,967.7 5 208.3 27 239.9 29 188.6 36 34.0 25 68.0 46 5,917 43 6,621 13 684.2 25 229.1
10 Canada 1,711.4 20 46,260.7 38 37.0 13 450.6 13 470.6 18 92.9 14 112.9 17 21,936 18 21,134 10 894.0 9 1,325.0
11 Russia 1,630.7 65 11,326.8 9 144.0 14 443.1 21 248.7 26 64.9 16 94.7 33 11,802 16 24,551 20 407.4 20 344.1
12 Korea 1,619.4 31 31,345.6 26 51.7 6 604.9 9 535.2 17 96.6 13 124.3 25 15,319 27 15,347 25 231.4 18 387.6
13 Spain 1,425.9 34 30,697.3 30 46.4 16 345.2 15 388.0 11 149.2 19 85.4 2 73,765 2 82,773 15 659.0 15 562.9
14 Australia 1,418.3 11 56,351.6 53 25.2 23 257.1 24 235.4 25 69.2 22 71.9 7 45,035 37 9,246 14 682.9 17 491.0
15 Mexico 1,223.4 71 9,807.4 11 124.7 12 450.7 12 476.5 40 28.6 32 37.2 16 22,510 7 41,447 18 485.8 31 152.5
16 Indonesia 1,022.5 120 3,870.6 4 264.2 30 180.2 28 188.7 41 27.9 35 35.0 27 14,110 31 13,396 27 226.3 39 72.3
17 Netherlands 912.9 13 53,106.4 66 17.2 5 723.8 7 644.7 6 242.5 6 228.9 23 18,641 20 19,014 4 1,673.8 2 2,427.3
18 Saudi Arabia 782.5 40 23,566.4 41 33.2 21 294.4 32 137.1 46 18.1 17 86.5 31 12,038 28 15,293 26 230.8 36 105.7
19 Turkey 766.4 73 9,346.2 19 82.0 31 167.9 25 223.0 29 48.8 42 23.4 14 25,220 6 45,768 42 134.5 45 49.9
20 Switzerland 703.8 2 82,950.3 95 8.5 20 310.7 18 279.5 12 124.3 15 103.4 24 17,042 33 11,715 7 1,062.8 10 1,263.4
21 Taiwan 589.4 39 24,971.4 55 23.6 17 335.9 17 286.3 27 50.3 27 56.8 29 13,704 35 11,067 48 100.9 21 339.7
22 Poland 586.0 59 15,430.9 37 38.0 22 260.6 19 266.5 24 69.2 31 43.3 28 14,042 19 19,623 24 231.8 50 28.5
23 Sweden 551.1 12 53,873.4 86 10.2 32 165.9 31 170.2 21 73.1 23 68.9 26 14,977 .. n.a. 22 322.4 19 371.1
24 Belgium 533.2 19 46,724.3 77 11.4 11 466.7 14 450.1 13 123.4 11 128.9 30 13,474 38 9,154 17 522.3 14 578.0
25 Argentina 518.1 64 11,626.9 31 44.6 49 61.6 46 65.4 54 14.1 41 23.8 49 5,558 42 6,942 54 72.8 46 42.3
26 Thailand 487.2 86 7,187.2 20 67.8 24 253.0 22 248.2 19 84.1 28 55.3 4 63,042 9 38,277 29 222.7 33 121.4
27 Austria 457.6 14 51,509.0 93 8.9 29 184.8 27 193.7 20 74.1 26 61.6 15 22,979 12 30,816 31 209.1 26 228.1
28 Iran 452.3 101 5,491.4 18 82.4 37 105.0 54 49.4 .. n.a. .. n.a. .. n.a. 40 7,295 59 57.0 77 3.9
29 Norway 434.9 4 81,694.6 115 5.3 35 121.8 41 86.6 32 42.9 29 51.8 47 5,672 .. n.a. 44 123.4 28 196.6
30 UAE 424.6 25 40,711.4 83 10.4 19 316.9 20 261.5 22 71.8 21 72.3 18 21,375 25 15,920 40 140.3 32 139.5Source: Latest international publications available. IMF, WEO Database (April 2019 edition) 2018 Data; WTO 2019, Trade in Goods 2018 Data, Trade in Services 2018 Data; UNWTO Tourism Highlights (2019 Edition) 2018 Data; UNCTAD (WIR 2019)
2018 Data. Trade in Goods: Exports: (8) Hong Kong, (15) Singapore; Imports: (8) Hong Kong, (16) Singapore. Trade in Services: Exports: (7) Ireland, (10) Singapore, (15) Hong Kong; Imports: (7) Ireland, (9) Singapore, (20) Hong Kong. Tourism
Income: (11) Macao, (12) Hong Kong, (19) Singapore, Portugal (20). Tourist Nº: (13) Hong Kong, (14) Greece, (15) Malaysia, (17) Portugal. FDI Inward: (2) Hong Kong, (6) Singapore, (9) Ireland. FDI Outward: (4) Hong Kong, (11) Singapore, (12)
Ireland, (13) British Virgin Islands.
Foundations for Sustainable Growth
Transformation of
Spain´s Growth Model
Single Monetary
Policy
Fiscal
Coordination
EMU Integration
Banking Union
Reforms for
Competitiveness
COMMITMENT CONFIDENCE COMPETITIVENESS
Spanish
Economic Policy
Restructuring
Financial Sector
Reforms for
Stabilization
Fiscal
Consolidation
Economic Growth
& Employment
Labour
Market
External Sector
Contribution
5
Reforms for Competitiveness
Labour Market ReformCompetitive Labour Costs: More Flexibility, Productivity, Employment & Training
Public Sector ReformFiscal consolidation at all levels of Public Administration
Restructuring process completed in 2013Financial System Reform
Competitive MarketsSingle Market Law. Services & Product Markets Liberalization
Investments and R&D IncentivesEU Framework: Competitiveness, Employment & R&D activities
Favourable tax rate on corporate income (25%) Tax Incentives
Tax Reform
More openness means a more Competitive & Resilient EconomyExternal Sector
Fast Track for International Investors on Residence & Working VisaVisa & Work Permits
GDP (real growth rate) - Public Deficit & Current Account Balance (as % of GDP)
Source: Ministry for the Economy and Business. Bank of Spain. National Statistics Institute. Ministry of Finance 2019
Macroeconomic Stability: Adjustment and Growth:
A Balance, dynamic and sustainable growth patter
Recent evolution of the Spanish Economy
3,6
0,9
-3,8
0,2
-0,8
-3,0
-1,4
1,4
3,8
3,0 2,9
2,42
-12
-10
-8
-6
-4
-2
0
2
4
6
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Current Account Balance GDP Public Deficit
7
Sources: Eurostat 2019 and Tesoro Público
Unit Labour Cost (Index
1999=100) Real Productivity (Index
1999=100)
Source: Eurostat. October 2019. Note: Last Four years
Share in the Increase in Employment in the Euro Area (%)
85
90
95
100
105
110
115
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Germany Euro Area Spain France Italy UK
86.1
95.2
106.0
94.598.3
101.6
90
95
100
105
110
115
120
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
Germany Euro Area Spain France Italy UK
112.8
113.4
120.2
95.9
112.3
116.6
17,30 17,1 17,6 18,1 18,5 18,9 19,56 19,96 19,68
05 05 05 04 04 033,20 3,24
3,8306 5,9 5,5 4,8 4,2 3,7 3,30 3,193,31
27
2624
2119
16,55
14,45 13,78 14,41
2012 2013 2014 2015 2016 2017 2018 2019 2020
00
05
10
15
20
25
30
Sources: Ministry of Employment, Migrations and Social Security and National Statistics Institute, INE. Figures related to last quarter of every year.
Employment trends in Spain. Million jobs
Employment Unemployment Registered
Unemployment (EPA) Unemployment rate
Spain has generated 25.7% of all the employment created in the Euro Area since 2014.
Labour Market Reform: More Flexibility, Productvity, Employment & Training
Employment trends in Spain
8
Extension of the expansive phase
GDP Forecasts
GDP
(Year on Year Growth Rates)
Source: Eurostat. European Commission
IMF Growth Forecasts for 2020
Source: IMF. WEO April 2020
Source: Ministry for the Economy and Business. National Statistics Institute. 2020
-8
-6
-4
-2
0
2
4
6
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
France Italy Euro Area Spain
1,8
0,9
9
Macroeconomic scenario (YoY growth rates in percent) Years
2016 2017 2018 2019 2020 2021
Household consumption expenditure 2.6 3.0 1.8 1.1 -8.8 4.7
General Government consumption expenditure 1.0 1.0 1.9 2.3 2.5 1.8
Gross Fixed Capital Formation 2.4 5.9 5.3 1.8 -25.5 16.7
National Demand (Contribution to GDP Growth) 2.0 3.0 2.6 1.5 -9.7 5.8
Exports of goods and services 5.4 5.6 2.2 2.6 -27.1 11.6
Imports of goods and services 2.6 6.6 3.3 1.2 -31.0 9.3
External demand (Contribution to GDP Growth) 1.0 -0.1 -0.3 0.5 0.5 1.0
Gross Domestic Product 3.0 2.9 2.4 2.0 -9.2 6.8
10
GDP Forecasts
2019 2020 2021
EA
ECB
European Commission 1.2 .-7,7 6.3
OECD
IMF 1.2 -7,5 4.7
GERMANY
ECB
European Commission 0.6 -6.5 5.9
OECD
IMF 0.6 -7.0 5.2
FRANCE
ECB
European Commission 1.3 -8.2 7.4
OECD
IMF 1.3 -7.2 4.5
ITALY
ECB
European Commission 0.3 -9.5 6.5
OECD
IMF 0.3 -9.1 4.8
SPAIN
ECB
European Commission 2,0 -9.4 7.0
OECD
IMF 2.0 -8.0 4.3
FORECASTs
REAL GDP
European Commission Forecast
-10
-8
-6
-4
-2
0
2
4
6
8
19 20 21 19 20 21 19 20 21 19 20 21 19 20 21
EU AREA GERMANY FRANCE ITALY SPAIN
%
Source: Eurosystem. European Comission 2020
* ECB and OECD forecasts are not included because they are prior to Covid 19 pandemic.
An open Economy is a more Competitive & Resilient Economy
2019: Exports from Spain by Destination (%)
Source: Secretariat of State for Trade
Export diversification from Spain
65.7
5.7
5.5
5.2
6.7
2.6
6.40.6 1.5
EU-28
REST OF EUROPE
LATIN AMERICA
NORTH AMERICA
ASIA *
MIDDLE EAST
AFRICA
OCEANIA
OTHERS
2019: Exports of Goods & Services % GDP
Source: Eurostat
Multinationals in Spain account for 43,7% of total exports from Spain to third Markets Total exports from Spain amounted 290 Billion € in 2019
*Excluded Middle East
11
47
3532 31 31
00
05
10
15
20
25
30
35
40
45
50
Germany Spain Italy France UnitedKingdom
Increasing exports with High Value Added and Technological content
Source: Secretariat of State for Trade
Export diversification from Spain
15.2
10.4
4.1
16.8
20.4
11.7
9.7
10.2
1.5Automotive
Chemicals
Pharmaceuticals
Foods, Beverage Industries
Industrial Machinery, Electronics, ITC &Business Equipment
Consumer Goods
Energy & Natural Resources
Metals & Manufacturing of other Materials
Others
2019: Exports of Goods. Sector breakdown in %
Foreign companies in Spain account for more than 40% of the total industrial
turnover yearly and 24% of the industrial employment 12
• International Export Services from Spain -excluding Tourism- to third markets reached more than 67 Billion € in 2018. Morethan 120 Billion € including Tourism.
• According to WTO Spain ranks 11th Worldwide.
International Export Services
by Sector (%)International Export Services
by Destination (%)
Source: INE, BdE, WTO and ICEX- Secretariat of State for Trade 2019. Data 2018
International Export Services from Spain
53.5
10.3
13.4
9.4
5.4
4.23.4 0.5
EU-28
REST OF EUROPE
LATIN AMERICA
NORTH AMERICA
ASIA *
MIDDLE EAST
AFRICA
OCEANIA
Tourism: Spain received 82 million international tourists in 2018.Spain is the 2nd country worldwide in number of international tourist arrivals and 2nd in revenues after USA (1st in Europe)
*Excluded Middle East
13
38.7
26.7
15.3
6.8
2.92.8
3.1 1.9 1.7 BUSINESS SERVICES
TRANSPORTATION
INFORMATIONTECHNOLOGYINSURANCE
FINANCIAL SERVICES
COMMUNICATIONS
INTELLECTUALPROPERTYCONSTRUCTION
OTHERS
Foreign Direct Investment Records in Spain
FDI Flows increase in Spain. 2012-2019. Million €
Source: Foreign Direct Investments Registry. Ministry of Industry, Commerce and Tourism 2020. Million €.
Total Investment includes: Productive Investments -new greenfield & brownfield & Reinvestment - and Investment in Holding Companies (ETVEs) 14
20,296
24,08621,539
26,780
37,326
40,454
56,179
24,788
14,903
17,26820,650
25,15327,049 26,842
49,549
22,376
0
10000
20000
30000
40000
50000
60000
2012 2013 2014 2015 2016 2017 2018 2019
Inward Foreign Direct Investment into Spain reached 24 Billion € in 2019
Total Investment Productive Investment
Year Inward FDI
1 2018 49.549.414
2 2007 30.214.638
3 2008 30.211.771
4 2011 28.804.308
5 2016 27.049.721
6 2017 26.842.341
7 2000 26.080.471
8 2015 25.153.333
9 2019 22.376.636
10 2014 20.650.506
Spain. FDI inward.
Top 10 Years Ever
Foreign Direct Investment Greenfield
15
FDI Greenfields in Spain: 5 years trends
Source: FDI Markets, 2020. Source: FDI Markets, 2020.
Spain is the 3rd greenfield destination in Europe by capex and 1st by jobs created,
according to FDI Markets Financial Times
12,0 10,615,2
34,4
21,5
36,1
42,5
56,7
84,687,9
412
544
650
759
814
2015 2016 2017 2018 2019
Capex (USD Billion) Jobs Created (Thousands) Projects Nº
Top 10 Greenfield Destinations in Europe 2019 FDI Markets. USD Million.
Country Capex ProjectsJobs
CreatedCompanies
1 UK 36,074.8 1,539 76,056 1,304
2 Germany 22,826.4 1,087 52,374 894
3 Spain 21,460.6 814 87,892 583
4 France 19,040.9 838 42,237 696
5 Ireland 11,296.1 229 22,841 210
6 Netherlands 11,244.4 339 22,137 326
7 Belgium 8,486.0 210 13,005 189
8 Italy 6,951.0 222 18,687 183
9 Portugal 3,467.8 166 15,178 146
10 Austria 2,472.7 95 7,524 80
Rest 11,020.7 677.0 27,149.0 -
Total 154,341.4 6,216 385,080 4,457
16
Foreign Direct Investment Greenfield
Top 10 Greenfield Destinations in Europe 2015 – 2019FDI Markets. USD Million
Country Capex Projects Jobs Created Companies
1 UK 189,148.5 7,093 386,455 4,982
2 Spain 93,688.8 3,179 307,614 1,781
3 Germany 90,612.9 5,833 239,899 4,612
4 Russia 89,838.9 1,395 314,104 964
5 Poland 76,040.9 1,887 429,043 1,142
6 France 75,516.0 3,839 177,252 2,706
7 Netherlands 53,971.6 1,439 86,806 1,274
8 Turkey 43,040.3 974 79,692 756
9 Ireland 42,708.8 1,114 96,285 862
10 Belgium 29,180.6 1,044 58,403 825
Rest 261,154.7 9,693 1,272,966 --
Total 1,044,902.0 37,490 3,448,519 19,792
Source: FDI Markets, 2020. USD Million.
17
Source: FDI Markets, 2020. USD Million.
Foreign Direct Investment Greenfield
Source: FDI Markets, 2020. USD Million.
Spain is the world’s 6th greenfield projects destination and 4th of innovative and high-end greenfield activities,
according to FDI Markets Financial Times
Top 10 Greenfield Destinations in the World 2019
Country ProjectsCapex
USD M.
Jobs
createdCompanies
1 USA 2,018 101,238.2 172,863 1,524
2 UK 1,539 36,074.8 76,056 1,304
3 Germany 1,087 22,826.4 52,374 894
4 France 838 19,040.9 42,237 696
5 China 836 62,001.6 168,664 667
6 Spain 814 21,460.6 87,892 583
7 India 701 29,788.0 233,439 544
8 Mexico 641 27,859.0 154,923 482
9 Poland 448 24,462.3 132,738 288
10 UAE 445 13,556.7 30,578 407
Rest 9,387 491,926.0 1,351,829 -
Total 18,754 850,234.2 2,503,593 11,143
Top 10 Innovative & High-End Greenfield Activities
Destinations in the World 2019
Country ProjectsCapex
USD M.
Jobs
createdCompanies
1 USA 362 8,384.7 33,097 340
2 UK 254 4,368.3 15,170 245
3 India 169 4,604.1 40,991 146
4 China 128 5,673.7 17,260 107
5 Spain 127 2,466.4 10,330 112
6 Germany 114 2,528.4 8,522 99
7 Singapore 84 2,034.6 4,937 81
8 Canada 82 4,482.5 7,422 77
9 Netherlands 80 3,898.5 7,384 80
10 France 74 1,646.6 6,017 72
Rest 959 37,745.0 88,315 -
Total 2,433 77,832.3 239,445 1,895
Foreign Direct Investment in Spain by countries
18
Foreign Direct Investment in Spain by countries
RK Country Total Investment (Million €) Total % Nº Companies (*) Employment
1 USA 70,715.76 € 16.25% 1899 181,624
2 United Kingdom 57,727.86 € 13.26% 1460 121,926
3 France 49,756.52 € 11.43% 1468 301,257
4 Italy 33,479.23 € 7.69% 525 39,531
5 Germany 33,180.74 € 7.62% 1458 183,941
6 Mexico 28,024.44 € 6.44% 513 30,088
7 China 16,940.31 € 3.89% 146 19,271
8 Netherlands 14,293.41 € 3.28% 1044 98,171
9 Luxembourg 14,223.82 € 3.27% 1650 38,142
10 Switzerland 12,468.43 € 2.86% 571 77,778
11 Brazil 7,161.08 € 1.65% 64 1,175
12 Japan 6,859.70 € 1.58% 311 40,718
13 Colombia 5,766.61 € 1.32% 45 163
14 Canada 5,392.05 € 1.24% 178 7,268
15 UAE 5,374.36 € 1.23% 81 9,268
16 Venezuela 4,924.53 € 1.13% 125 3,702
17 Argentina 4,636.55 € 1.07% 62 227
18 Sweden 4,447.97 € 1.02% 122 44,395
19 Portugal 3,263.69 € 0.75% 320 13,031
20 Belgium 3,170.82 € 0.73% 173 6,868
21 Ireland 2,859.66 € 0.66% 210 9,149
22 Curazao 2,830.48 € 0.65% 104 3,443
23 Austria 2,729.63 € 0.63% 97 2,654
24 Australia 2,549.95 € 0.59% 33 858
25 Uruguay 2,492.47 € 0.57% 111 509
Others 23,673.86 € 5.44% 1,864 214,089
TOTAL 435,279.48 € 100% 14,634 1,395,225Source: Foreign Investments Registry. Ministry of Industry, Commerce and Tourism 2019. Stock 2017 data.
(*) Number of level 1 companies plus other Spanish subsidiaries and Spanish companies under their control (level 2 & 3)
Stock and Recent Investment Trends 2014-2018 flows in Spain
19
Stock and Recent Investment Trends in Spain by Country 2014 - 2018. Million €.
Foreign Investments Registry.
CountryInvestment flows in Spain: 2014 - 2018 Investment
Stock (*)2014 - 2018 2014 2015 2016 2017 2018
1 USA 28,497.7 3,830.8 3,003.0 5,071.0 4,470.6 12,122.3 70,715.8
2 United Kingdom 17,241.4 2,037.4 1,269.2 2,269.4 8,106.1 3,559.3 57,727.9
3 Luxembourg 15,178.5 2,391.2 3,323.2 3,210.1 4,831.7 1,422.3 14,223.8
4 Netherlands 14,882.9 1,345.8 2,755.2 6,148.4 3,195.5 1,438.0 14,293.4
5 Germany 14,579.5 456.6 973.3 7,698.2 3,269.1 2,182.2 33,180.7
6 France 10,829.7 2,050.8 2,338.4 1,820.1 2,609.0 2,011.3 49,756.5
7 China + Hong Kong 8,681.2 902.3 1,704.3 1,233.5 3,102.9 1,738.2 17,500.3
8 Mexico 5,724.2 1,235.7 1,267.7 1,568.8 543.2 1,108.8 28,024.4
9 Uruguay 3,975.4 469.5 468.2 359.5 2,383.8 294.4 2,492.5
10 Canada 3,518.5 313.1 199.6 833.1 917.4 1,255.4 5,392.0
11 Italy 3,130.5 111.1 158.1 140.0 229.9 2,491.3 33,479.2
12 Switzerland 2,982.7 424.0 501.9 401.1 1,445.6 210.2 12,468.4
13 Japan 2,584.5 459.8 555.2 509.1 161.7 898.8 6,859.7
14 Australia 2,322.7 7.2 33.1 9.3 15.2 2,257.9 2,550.0
15 Portugal 1,837.8 137.3 450.1 431.3 508.1 310.9 3,263.7
16 Qatar 1,763.0 16.9 1.7 677.5 17.8 1,049.2 1,633.4
17 Ireland 1,671.4 391.7 193.2 513.1 176.4 396.9 2,859.7
18 Venezuela 1,313.1 1,131.1 28.1 45.1 41.2 67.7 4,924.5
19 Belgium 1,069.5 167.3 80.7 192.4 478.2 150.9 3,170.8
20 Brazil 1,038.1 231.6 540.2 196.6 35.7 34.0 7,161.1
21 Singapore 964.3 385.0 160.5 80.5 142.4 196.0 1,314.5
22 Panama 790.5 194.0 46.2 58.0 88.4 403.8 1,701.4
23 Argentina 772.3 59.9 41.8 17.5 540.0 113.0 4,636.6
24 United Arab Emirates 711.7 54.5 175.4 19.5 380.2 82.1 5,374.4
25 Kuwait 589.7 2.9 497.4 1.0 9.9 78.5 1,463.4
Other 1,593.5 25.3 555.9 166.4 338.4 507.6 49,111.4
TOTAL 177,355.1 21,533.2 26,441.4 36,461.2 40,115.7 52,803.6 435,279.5
Total Productive Investment 145,797.8 20,647.6 24,803.0 26,173.6 27,346.1 46,827.6 395,178.1
Source: Foreign Investments Registry. Ministry of Industry, Trade and Tourism, 2019. Million €. (*) Stock 2017 data.
Recent trends: Greenfield Projects in Spain by Country
20
Greenfield Projects in Spain by Country 2015 – 2019FDI Markets. USD Million
RK Country Capex Projects Jobs Companies RK Country Capex Projects Jobs Companies
1 USA 24,804.9 507 47,399 336 14 Canada 1,009.4 25 2,045 23
2 Germany 14,635.1 460 42,233 196 15 Israel 927.8 18 1,170 13
3 France 14,033.7 542 52,822 261 16 Denmark 927.7 60 4,449 29
4 UK 8,812.6 373 46,363 216 17 Portugal 877.3 52 4,340 25
5Switzerlan
d3,966.4 160 13,408 75 18 UAE 764.3 12 789 9
6 Italy 3,641.0 201 11,963 109 19 Sweden 756.4 52 4,002 30
7Netherland
s3,164.7 149 16,534 73 20 Ireland 581.6 30 3,223 15
8 Japan 2,796.1 111 10,267 61 21 Greece 574.7 9 1,617 6
9 Singapore 1,585.6 13 6,651 9 22 Cyprus 462.2 6 555 4
10 China 1,556.8 79 4,377 48 23 Australia 360.5 16 1,634 13
11Luxembou
rg1,429.6 30 12,667 16 24 Russia 326.4 10 767 5
12 Belgium 1,218.0 41 5,167 32 25 Iran 287.8 2 66 2
13 Norway 1,090.3 13 1,564 9 Rest 3,097.9 208 11,542 166
Source: FDI Markets, 2020. USD Million. TOTAL 93,688.8 3,179 307,614 1,781
FDI Inwards in Spain by Sector
21
Foreign Direct Investment in Spain by Sector Million EURO.
Stock and Recent Trends 2014 - 2018
SectorsTotal
Stock *
Investment Flows
2014 2015 2016 2017 2018
1 Energy 55,640.1 1,013.8 3,118.5 9,830.7 2,630.5 3,946.9
2 Metals and Manufacturing of other Materials 52,900.6 252.0 464.5 2,408.5 2,105.7 337.0
3 Real Estate, Building and Infrastructures 49,585.3 5,315.1 9,098.8 7,217.3 7,654.1 10,342.3
4 Retail and Wholesale 43,437.0 3,923.8 2,701.5 1,489.4 2,044.2 4,031.2
5 Financial Services 40,899.4 2,845.6 1,949.7 6,987.8 2,775.3 3,051.6
6 ITC: Communications, Software & IT Services 31,802.6 832.5 613.7 774.4 2,180.0 3,428.6
7 Food and Beverages 28,124.0 1,555.6 2,032.2 1,185.8 1,340.2 1,665.8
8 Chemicals and Petrochemicals 21,784.2 526.0 719.8 351.6 566.2 673.7
9 Automotive OEM & Automotive Components 19,074.3 97.1 738.9 1,499.2 489.4 2,451.2
10 Transport and Logistics 18,117.7 763.3 1,163.3 1,784.9 3,057.8 14,760.7
11 Business Services 15,047.3 548.1 678.4 690.4 2,403.0 1,469.2
12 Pharmaceuticals, Medical, Healthcare & Biotechnology 14,833.6 405.8 701.2 284.3 1,410.2 2,861.9
13 Mining and Natural Resources 14,682.1 1,097.0 32.7 107.4 9,375.8 221.4
14 Tourism 10,134.2 1,435.3 770.4 914.8 613.5 763.2
15 Industrial Machinery and Equipment 7,065.6 196.3 91.0 286.1 477.0 389.2
16 Environmental industries 5,240.7 455.8 13.3 3.6 617.0 122.6
17 Paper, Wood and Others 4,004.5 106.4 301.5 289.1 17.3 62.4
18 Leisure and Entertainment 1,935.5 145.1 1,098.3 111.4 127.6 2,060.2
19 Consumer Goods 934.8 7.5 153.3 24.9 230.2 160.4
20 Other 36.0 11.0 0.5 219.5 0.7 4.1
Total Investment 435,279.5 21,533.2 26,441.4 36,461.2 40,115.7 52,803.6
Total Productive Investment 395,178.1 20,647.5 24,802.9 26,173.6 27,346.1 46,827.6
Source: Foreign Investments Registry. Ministry of Industry, Trade and Tourism 2019. Million Euro. (*) Stock 2017 data.
Greenfield Projects in Spain by Sectors 2003 - 2019
Greenfield Projects in Spain by Sectors 2003 – 2019. FDI Markets. USD Million.
Sector Capex Projects Jobs Companies
1 Consumer Products, Food&Beverages, Textiles 40,360.0 2,393 226,655 813
2 Automotive OEM & Automotive Components 38,917.9 298 61,797 137
3 Energy, Environment & Renewable Energy 29,179.7 239 12,026 139
4 Transportation, Logistics & Warehousing 25,994.5 465 49,275 219
5 Real Estate, Building & Construction Materials 23,543.4 390 182,815 168
6 ITC: Communications, Software & IT Services 19,670.5 1,170 65,813 842
7 Leisure & Entertainment 16,703.6 38 11,892 35
8 Business & Financial Services 16,059.7 1,007 49,401 697
9 Chemicals, Plastics & Rubber 11,595.7 346 17,717 227
10 Hotels & Tourism 8,080.1 139 19,133 89
11Consumer Electronics, Business Machines & Equipment,
Components, Semiconductors6,310.1 361 26,287 228
12 Pharmaceuticals, Medical, Healthcare & Biotechnology 5,663.5 263 18,711 181
13 Metals 4,407.2 116 7,707 86
14 Industrial Machinery, Equipment, Engines & Turbines 2,158.8 269 14,632 200
15 Aerospace, Space & Defence 1,550.4 47 4,536 35
16 Non-Automotive Transport OEM 1,164.9 67 3,364 48
Other 3,211.8 91 6,185 57
TOTAL 254,571.8 7,699 777,946 4,035
Source: FDI Markets, 2020. USD Million.22
Recent trends: Greenfield Projects in Spain by Sectors
Greenfield Projects in Spain by Sectors: 2015 - 2019. FDI Markets. Million USD.
SectorCapex
2015 2016 2017 2018 2019
1 Real Estate, Building & Construction Materials 1,441.4 539.9 816.2 3,459.7 3,545.6
2 Consumer Products, Food& Beverages, Textiles 2,492.4 2,897.0 3,870.3 3,631.3 3,047.4
3 Energy, Environment & Renewable Energy 89.8 447.5 398.6 2,811.1 2,697.6
4 Transportation, Logistics & Warehousing 1,025.1 756.4 753.9 2,740.8 2,571.9
5 Automotive OEM & Automotive Components 4,974.5 1,657.8 2,375.0 925.4 2,166.0
6 ITC: Communications, Software & IT Services 243.7 817.6 1,010.9 1,541.9 2,156.4
7 Hotels & Tourism 124.1 405.5 2,453.7 1,221.5 1,158.1
8 Business & Financial Services 568.3 1,567.6 701.9 1,267.0 1,129.8
9 Leisure & Entertainment 8.3 0.0 565.9 13,707.8 961.7
10 Pharmaceuticals, Medical, Healthcare & Biotechnology 189.2 177.1 505.7 307.5 568.5
11 Chemicals, Plastics & Rubber 347.9 550.6 1,045.7 624.7 524.2
12Consumer Electronics, Business Machines & Equipm.,
Components220.9 290.0 194.8 195.3 259.6
13 Industrial Machinery, Equipment, Engines & Turbines 57.0 80.8 86.4 184.4 174.7
14 Aerospace, Space & Defence 0 55.6 54.7 269.3 157.0
15 Non-Automotive Transport OEM 4.5 118.5 24.1 516.4 112.7
16 Metals 53.2 132.5 222.5 520.5 104.8
Others 164.6 116.5 153.1 454.5 124.7
TOTAL 12,004.9 10,610.9 15,233.6 34,378.9 21,460.6Source: FDI Markets, 2020. USD Million. 23
Foreign Investments: Stock in $ Million
24
Inward FDI stock Outward FDI stock
Economy Mill USD Share Economy Mill USD Share
1 United States 7,464,678 23% 1 United States 6,474,690 21%
2 China + Hong Kong 3,624,940 11% 2 China + Hong Kong 3,808,982 12%
3 United Kingdom 1,890,384 6% 3 Netherlands 2,427,345 8%
4 Netherlands 1,673,814 5% 4 United Kingdom 1,696,529 5%
5 Singapore 1,481,033 5% 5 Japan 1,665,200 5%
6 Switzerland 1,062,827 3% 6 Germany 1,645,415 5%
7 Germany 939,033 3% 7 France 1,507,821 5%
8 Ireland 909,509 3% 8 Canada 1,325,014 4%
9 Canada 893,959 3% 9 Switzerland 1,263,443 4%
10 France 824,915 3% 10 Singapore 1,021,124 3%
11 Brazil 684,213 2% 11 Ireland 912,166 3%
12 Australia 682,866 2% 12 Belgium 577,960 2%
13 Spain 659,038 2% 13 Spain 562,931 2%
14 Belgium 522,348 2% 14 Italy 548,835 2%
15 Mexico 485,807 2% 15 Australia 490,986 2%
16 Italy 431,020 1% 16 Korea 387,591 1%
17 Russian Federation 407,362 1% 17 Sweden 371,131 1%
18 India 386,354 1% 18 Russian Federation 344,090 1%
World 32,272,043 World 30,974,931
Source: UNCTAD, WIR 2019. Source: UNCTAD, WIR 2019.
Over 14,000 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
Foreign Companies in Spain
25
26
Selected International Asset Management and Investment in Spain
International Portfolio Investment –non resident- in Spanish Traded Securities (Valores Negociables) Stock reached 1,015.7 Billion €
In addition, Spain investment position by residents in foreign traded securities amounted to 716.9 Billion €.
Source: Investment Register Ministry of Industry, Trade and Tourism 2019
Spain is the 10th most open country to Foreign Investment according to OECD’s FDI Restrictiveness Index
Open Economy
27
OECD FDI Regulatory Restrictiveness Index, 2017
Source: OECD, 2019. Data referred to 2017
CLOSER MORE OPEN
Spain
Assessments 2019 (from 1 to 5)
580 International Companies participating in the survey
Importance and assessment
by areas 2019
Barometer of Business Climate in Spain
Spain ranks 30th in the World Bank Doing Business Report,
improving Business Climate for the 7th consecutive year
28Source: ICEX Invest in Spain “Barometer of Business Climate in Spain” 2019
0
1
2
3
4
5Labor Market
Regulatory
Environment
Market size
Costs
Taxation
Finance
Infrastructure
Human Capital
Innovation
Quality of Life
Score
Importance
0 1 2 3 4
Quality of Life
Innovation
Human Capital
Market size
Finance
Costs
Infrastructure
Regulatory Environment
Taxation
Labor Market
Global Market Access
▪ Spain Domestic Market & EU
▪ Platform to Latin America
▪ Canary Islands Hub to Africa
▪ Middle East & North Africa
Agreements for Protection
and Promotion of
Reciprocal Investments
Agreements to
Avoid Double
Taxation
1719
Latin America
Agreements for Protectionand Promotion of Reciprocal Investments
Agreements to Avoid Double Taxation
Euro-Mediterranean Association Agreements
Africa & Middle East
21 Bilateral Agreements to Avoid Double Taxation
18 Bilateral Agreements for Reciprocal Protection and
Promotion of Investments
29
30
Source: UNCTAD, 2016.
Latin America Origin of FDI by Country in Latam Economies
2%
2%
2%
3%
3%
3%
3%
3%
10%
23%
0% 5% 10% 15% 20% 25%
Germany
Netherlands
Mexico
Japan
France
Belgium
United Kingdom
Canada
Spain
United States
Spain Investment abroad: Outward FDI.Stock by country destination
Billion €
1 United States 78,014 17,0
2 United Kingdom 77,078 16,8
3 Brazil 39,410 8,6
4 Mexico 33,760 7,4
5 Hungary 24,813 5,4
6 Chile 19,658 4,3
7 Portugal 17,058 3,7
8 Germany 15,741 3,4
9 Switzerland 14,839 3,2
10 Netherlands 14,129 3,1
11 France 12,204 2,7
12 Ireland 11,165 2,4
13 Canada 11,002 2,4
14 Italy 7,579 1,7
15 Argentina 6,737 1,5
16 Cayman Islands 5,839 1,3
17 Turkey 5,656 1,2
18 Poland 4,545 1,0
19 Belgium 4,391 1,0
20 Peru 4,389 1,0
Total 458,93 100
Rk CountryFDI Stock
2016 %Total
Source: Spanish Ministry of Industry, Trade and Tourism 2018.
Spanish Companies are very active investors in USA, EU and the world´s 2nd-largest investors in Latin America.
Global Market Access
31
Spain is the world´s 2nd-largest investor in Latin America
Spain(29)
Germany(16)
UK(13)
Italy(12)
France (11)
Netherlands(4)
Luxembourg(3)
Portugal(3)
Finland(2)
Ireland(2)
Others(5)
Spain(29)
UK(20)
Netherlands(12)
France (11)
Belgium (11)
Luxembourg(5)
Germany(3)
Portugal(3)
Italy(3)
Others(3)
Many Spanish companies have a strategic position in key sectors in Latin America
European FDI Projects in
Latin America and the Caribbean 2005-2017
European Mergers and Acquisitions in
Latin America and the Caribbean 2005-2017
Source: Cepal 2019 Source: Cepal 2019
Global Market Access
32
Spanish Companies are among Leading Companies in the World
❖ 3 out of every 5 flights worldwide are controlled using Spanish Air Navigation
Management systems-ATM.
❖ Telefonica is one of the largest telecommunications companies in the
world (in terms of market capitalization and number of customers).
❖ Santander is the 2nd bank in the Eurozone and one of the first in the world
(stock market capitalization) and BBVA now operates in 40 countries.
❖ Mapfre is the largest multinational insurer in Latin America and among the
top 10 European insurance companies by premium volume
❖ Iberdrola is the 4th-largest utility company in the world (in terms of market
capitalization) and the 2nd largest wind power operator in USA.
❖ The Spanish infrastructure sector is a world leader in foreign markets. ACS
Group is the leading international contractor in the world, according to the
ranking published in 2018 by the specialized publication Engineering News
Record (ENR).
▪ The Al Shoula Group, a Spanish-Saudi consortium, is to run the high-
speed train between La Mecca – Medina.
▪ The Panama Canal expansion project has been developed by a
Spanish-led consortium.
▪ 6 out of 10 Worldwide Concessionaires of transportation
infrastructures are Spanish Companies.
Taxes: Moderate Tax Burden
The International analysis shows that Spain is a country with relatively moderate ratio between
Tax Revenues (Including Social Security Contributions ) and GDP (35.4% GDP).
Moderate tax burden for Companies
Source: Eurostat 2018. Latest Data Available 2016
Corporate Income Tax Rate: 25%
Lower effective rate based on taxes allowances on incentives reductions fro investments, employment and R*D activities.
Countries UE. Tax Revenues (Including Social Security Contributions) as % of GDP
33
0,0
10,0
20,0
30,0
40,0
50,0
60,0
Most favorable fiscal incentives for R&D among OECD countries
Incentives & Tax Relief for R&D
Note: The generosity of R&D tax incentives Indicator. ax subsidies are calculated as 1 minus the B index.
For example, in Spain, 1 unit of R&D expenditure by large firms results in 0.33 unit of tax relief.
Source: “Science, Technology and Industry, Outlook”. OCDE 2019.
Patent Box: Tax benefits for R&D activities.
R & D Incentives: Financing, soft Loans & Grants for R&D projects
Favorable fiscal system for foreign investors and R+D activities
R&D Incentives: Tax relief
34
-0,05
0
0,05
0,1
0,15
0,2
0,25
0,3
0,35
0,4
0,45
Fra
nce
Port
ugal
Chile
Colo
mbia
Spain
Neth
erl
ands
Canada
Lithuania
Irela
nd
Slo
vak R
epublic
Bra
zil
United K
ingdom
Kore
a
Icela
nd
Norw
ay
Malta
Pola
nd
Czech R
epublic
Slo
venia
Hungary
Japan
Austr
alia
New
Zeala
nd
Austr
ia
Belg
ium
South
Afr
ica
Russia
n F
edera
tion
Gre
ece
Chin
a
Rom
ania
Mexic
o
Turk
ey
United S
tate
s
Sw
eden
Italy
Cro
atia
Isra
el
Denm
ark
Bulg
ari
a
Esto
nia
Latv
ia
Fin
land
Sw
itzerl
and
Cypru
s
Luxem
bourg
Arg
entina
Germ
any
SME Large firm
35
1. Spain does not charge withholding tax on interest and dividends paid to EU recipients.
2. Participation Exemption System: dividends or profit participations from business activities carried out abroad through
subsidiaries or branches and the gains obtained from the transfer of these securities are tax exempt in Spain if the
Spanish company holds a participation of at least 5% in the non resident company.
3. Favorable tax incentive for foreign workers: fixed rate during the first 6 years in their PIT of 24% (up to 600,000 €
maximum) and 45% for income above 600,000€. Dividends, Interests and Capital Gains generated abroad will not be
taxed in their PIT. These kind of income are only taxed for savings in Spain at a rate between 19 and 23%.
4. Tax-neutral regime for corporate reorganizations: There is a special Corporate Tax regime for mergers, spin-offs,
contributions in kind and exchanges of shares, among others. This special regime aims at achieving tax neutrality on
corporate restructuring operations.
Favourable Taxes for Foreign workers and Capital Investors
Corporate Income Tax Rate %
Portugal 31.50
France 31.00
Belgium 29.58
Luxembourg 26.01
Netherlands 25.00
Spain 25.00
Italy 24.00
Sweden 21.40
Poland 19.00
United Kingdom 19.00
Ireland 12.50
VAT (Standard Rate) %
Sweden 25.00
Ireland 23.00
Portugal 23.00
Poland 23.00
Italy 22.00
Belgium 21.00
Netherlands 21.00
Spain 21.00
France 20.00
United Kingdom 20.00
Luxembourg 17.00
36
Spain has tax treaties with 94 countries/territories. Under these treaties, residents in foreign countries are taxed at a reduced rate
or are exempt from Spanish taxes on certain items of income they receive from sources within Spain. These reduced rates and
exemptions vary among countries and specific items of income.
Agreements to avoid Double Taxation
AMERICA EUROPEASIA AFRICA
NORTH EU MEMBERS NON EU MEMBERS
USACanadaMexico
GermanyFranceItaly
NetherlandsSwedenPoland
BelgiumAustriaFinlandGreecePortugalIreland
Czech RepublicRomaniaHungarySlovakia
LuxembourgCroatiaBulgariaSloveniaLatvia
LithuaniaEstoniaCyprusMalta
RussiaTurkey
SwitzerlandNorwayUkraine
BelorussiaUnited Kingdom
GeorgiaSerbia
Bosnia-HerzegovinaIcelandAlbaniaArmenia
MacedoniaMoldovanAndorra
ChinaJapan
South KoreaHong Kong. China
AustraliaNew Zealand
IndonesiaThailandMalaysia
SingaporePhilippinesVietnam
East TimorIndia
PakistanSaudi Arabia
United Arab EmiratesKuwaitQatarIran
OmanIsrael
KazakhstanUzbekistan
TurkmenistanTayikistanKyrgystan
South AfricaNigeriaEgyptAlgeriaMoroccoTunisiaSenegal
CENTRAL
CubaDominical Republic
Costa RicaPanama
Trinidad and TobagoEl Salvador
JamaicaBarbados
SOUTH
BrazilArgentinaColombiaVenezuela
ChileEcuadorBolivia
Uruguay
37
Taxes: ETVEs
1. Foreign Securities Holding Companies (in Spanish, ETVE) is a Special Tax Regime applicable to Holding
companies.
a) No taxation on paid-in dividends.
b) No taxation on paid-in capital gains.
c) No taxation on paid-out dividends/gains.
d) Stable and reliable regime.
e) Wide tax treaty network (93 treaties to avoid double taxation).
2. The attractiveness of ETVEs goes beyond the pure Tax Holding Regime. The ETVE regime is an opportunity for
international investors to channel their outbound investments (in Europe, LATAM and other countries) through
Spanish HoldCos.Main Investors in Spanish ETVEs (billion euros)
Foreign Securities Holding Companies
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
Incentives
38
European Union Incentives Scheme for Large Companies in Spain (2018-2020)
Grants from Ministry of Finance and Public Administration
Human Capital: Highly skilled labor force
Spain occupies a great position in Europe in number of
persons with tertiary education, in comparison with the
biggest European economies.
Human Capital: productivity and skilled labour force
Labour costs in Spain are much more
competitive than in other main European
economies. According to Eurostat [and
German statistics] Spain labor cost are
between 20 and 40 per cent lower, more
competitive, than those existing in France,
Netherlands, Germany, Ireland or UK.
39
44.7
40.3 40 39.336.5 35 34.934.734.5
30.527.226.626.3
21.318.3
16.114.414.113.312.712.611.810.9 9.9 9.9 9.7 9.2
6.5 5.3
0
5
10
15
20
25
30
35
40
45
50
Source: Destatis 2019 (Federal Statistical Office Germany)
Labour cost per hour worked, 2018€/hour
50.746.9
44.2
32.2
27.7
,00
10,00
20,00
30,00
40,00
50,00
60,00
United Kingdom France Spain Germany Italy
Source: OECD. December 2019. Note: Data 2018
Population with tertiary education, %25-34 years old
Human Capital: Universities in Spain
In Spain there are 82 Universities, including public and private ones. There are more than 500 degree programs and more than
400 Master programs held in English in Spanish universities. Spain is the first country in Europe receiving foreign students under
ERASMUS + program, with 40,000 students.
40
Total EducationArts &
Humanities
Social
Sciences
Business
Administrati
on & Legal
Science
Science
StudiesICT Engineering
Agro &
Veterinary
Studies
Health
Sciences
Other
Services
Studies
Total Spain 302,601 65,132 25,288 29,007 63,400 17,461 6,224 35,416 3,420 43,593 13,660
Andalucía 44,092 10,115 4,593 3,704 8,190 3,070 672 4,503 590 6,677 1,978
Aragón 6,064 1,167 357 322 1,031 433 95 983 158 1,342 176
Asturias (Principado de) 3,772 642 294 195 688 399 126 680 21 588 139
Balears (Illes) 2,349 736 165 157 413 199 43 67 29 381 159
Canarias 6,627 1,413 563 345 1,182 327 134 760 129 1,328 446
Cantabria 2,261 396 227 136 355 89 31 469 0 391 167
Castilla - La Mancha 4,529 1,177 323 151 974 177 126 533 85 889 94
Castilla y León 21,182 5,949 1,435 1,808 5,025 859 440 1,770 392 2,752 752
Cataluña 52,496 7,686 4,780 5,949 11,439 4,029 1,503 6,692 365 7,450 2,603
C. Valenciana 33,550 8,211 2,801 3,128 5,174 1,690 684 4,447 415 5,684 1,316
Extremadura 4,104 1,307 210 237 694 206 59 419 185 651 136
Galicia 10,885 2,096 1,001 861 1,992 780 218 1,485 208 1,769 475
Madrid (Region) 65,568 12,665 4,716 6,516 16,394 3,467 1,270 8,486 588 8,058 3,408
Murcia (Region) 10,394 2,892 951 604 1,537 519 133 784 168 2,154 652
Navarra 4,246 484 161 284 1,494 114 44 800 60 791 14
País Vasco 11,464 1,927 1,066 1,056 2,433 684 254 2,194 0 1,424 426
Rioja (La) 10,041 4,813 312 1,119 2,055 181 300 221 27 517 496
Other Universities 8,977 1,456 1,333 2,435 2,330 238 92 123 0 747 223
Source: Spanish Ministry of Science, Innovation and Universities
Students who finished their studies. 2017-2018 Academic year
Number of Bachelor's & Masters students
Spain Business Schools
Global MBA ranking 2019
European Business School
2019 Ranking School name Country
1 Insead France / Singapore
2 London Business School UK
3 Iese Business School Spain
4 University of Oxford: Saïd UK
5 University of Cambridge: Judge UK
6 HEC Paris France
7 Esade Business School Spain
8 IMD Switzerland
9 IE Business School Spain
10 SDA Bocconi Italy
Source: Financial Times 2019
Global MBA ranking 2019
2019
RankingSchool name Country
1 Stanford Graduate School of Business US
2 Harvard Business School US
3 InseadFrance /
Singapore
4 University of Pennsylvania: Wharton US
5 Ceibs China
6 London Business School UK
7 University of Chicago: Booth US
8 MIT: Sloan US
9 Columbia Business School US
10 University of California at Berkeley: Haas US
11 Yale School of Management US
12 Iese Business School Spain
13 University of Oxford: Saïd UK
14 Northwestern University: Kellogg US
15 Dartmouth College: Tuck US
16 University of Cambridge: Judge UK
17National University of Singapore Business School Singapore
18 HKUST Business School China
19 HEC Paris France
20 Duke University: Fuqua US
21 Esade Business School Spain
… … …
31 IE Business School Spain
Source: Financial Times 201941
Human Capital: Talent Pool
According to the SCImago Journal & Country Rank, Spain ranks 10 in scientific publications during the period 1996-2018.
In 2018, there were published 96,517 documents, almost 2% more than 2017. Spain highlights in Arts & Humanities (4th of 239
countries), Social Sciences (6th), Nursing, Health Professions and Agricultural and Biological Sciences (8th).
By specific subject categories, Spain stands out in “Medical Assisting and Transcription” (2nd worldwide); “Analytical Chemistry” (3rd) or
“Waste Management and Disposal” (4th), among others.
As a fact to take into account, Spain ranks in the top 10 in 156 different specific subject categories.
42
SCIMAGO JOURNAL Rank 1996-2018. Top 10
Rank Country
1 United States
2 China
3 United Kingdom
4 Germany
5 Japan
6 France
7 Canada
8 Italy
9 India
10 Spain
Source: Scimago Journal
SCIMAGO JOURNAL Rank 2018
Best performance by category
Area Category Rank
Health Professions Medical Assisting and Transcription 2
Arts and HumanitiesLiterature and Literary Theory 3
Visual Arts and Performing Arts 3
Chemistry Analytical Chemistry 3
MedicineFamiliy Practice 3
Histology 3
Social Sciences
Archeology 3
Communication 3
Linguistics and Language 3
Arts and Humanities History 4
Environmental Science Waste Management and Disposal 4
NursingCommunity and Home Care 4
Critical Care Nursing 4
Social SciencesCultural Studies 4
Urban Studies 4
Source: Scimago Journal
Human Capital: Talent Pool
43
Members of APTE
Affiliates of APTE64 parks in the Association of Science and
Technology Parks of Spain (APTE), hosting
over 8,000 companies.
Technology Parks
Excellent infrastructure for Technology Business Development
More than 70 Technology Parks in Spain
Highways: Logistics Hubs and
Road Infrastructures
Airports: Business Infrastructure
& Tourist Main Entrance
Infrastructure,Transport & ICT
ICT and Telecommunication Networks
Railway: High Speed Networks
Urban Transport: Smart Cities
Ports: World Logistics Platforms
Algeciras, Barcelona & Valencia,
among the top 10 European
container ports.
29 Container Terminals.
46 Ports.
36 Mill. passengers. (2018)
Largest EU highway network:
17,163 km.
One of the best indexes of
quality of roads in the world.
Leading designer and developer of
high-speed trains.
2nd largest worldwide (1st in Europe)
in High-Speed Network.
1st in Europe in network fiber optic cable.
The best bandwidth penetration (fixed and
mobile) in the EU.
Mobile World Congress - Barcelona
263.7 Mill. passengers. (2018)
European hub to Latinamerica.
Aena manages 46 airports and 2
heliports in Spain and manages airports
in Mexico, Colombia and Jamaica.
Source: Marca España. AENA.
Highly developed transport
infrastructure: high-capacity
metropolitan road network and an
efficient public transport system
based on Metro, and local
railways, and a network of bus
routes. 44
Investors’ Residence & Working Visa
Fast track framework for Investors and qualified professionals: Residence and Working visa
THE PROCEDURES
10 days for visas and 20 days for authorizations
A single authorization for living and working in
Spain
Valid for the whole of Spain
GENERAL REQUIREMENTS
Not being in an illegal situation in Spain
Being 18 years old or older
Not having criminal records
Public or private health insurance in Spain
Enough economic resources.
VISA AND AUTHORIZATION CONCESSIONS FOR
Investors
Entrepreneurs
Highly qualified professionals
Scientists and researchers
Intra-corporate transferred employees
Freedom to live in Spain: Granted residence and work permits authorization
Source: http://extranjeros.empleo.gob.es/es/UnidadGrandesEmpresas/folletos/index.html
The family will be able to apply at the same time
Real Estate 0.5 Mill €
Spanish
Companies1 Mill €
Bank Deposit 1 Mill €
Public Debt 2 Mill €
45
1. European Commission Representation in Spain
2. European Parliament Office in Spain
3. European Agency for Safety and Health at Work (EU-OSHA)
4. European Union Intellectual Property Office (EUIPO)
5. European Union Satellite Centre (EU SatCen)
6. Institute for Prospective Technological Studies (IPTS)
7. European Investment Bank (EIB)
8. International Organization of Securities Commissions (IOSCO)
9. Inter-American Development Bank (IADB)
10. Andean Development Corporation – Development Bank of Latin America (CAF)
11. International Air Transport Association (IATA)
12. Ibero-AmericanSecretariat General (SEGIB)
13. Organization of Ibero-American States for Education, Science and Culture (OEI)
14. Latin American Youth Organisation (OIJ)
15. United Nations World Tourism Organization (UNWTO)
16. International Labour Organization (ILO)
17. Office of the United Nations High Commissioner for Refugees (UNHCR).
18. Food and Agriculture Organization of the United Nations (FAO).
19. United Nations Human Settlements Programme (UN–Habitat)
20. United Nations Relief and Works Agency for Palestine Refugees in the Near East
(UNRWA)
21. International Organization for Migration (IOM)
22. Secretariat of the Union for the Mediterranean
23. IUCN Centre for Mediterranean Cooperation
24. Public Interest Oversight Board (PIOB)
25. Galileo Security Monitoring Centre’s (GSMC’s)
46
International Organisations with headquarters or offices in Spain
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Indicator Rank Score
Global Position
Living 16.89 2
Quality of life 0.77 1
Physical & mental wellbeing 0.53 1
Fulfillment 0.36 19
Cultural, open and welcoming communities 0.54 3
Political stability 0.31 15
Ease of settling in 0.31 3
Aspiring 12.05 22
Work / life balance 0.58 3
Little Expats 13.47 2
Making friends 0.51 2
Learning 0.44 2
Schooling 0.16 8
Expat Explorer, 2019. Spain
4
Source: HSBC. Expat Explorer, 2019. 33 countries analyzed.
Quality of Life in Spain
Moving to, living and working in Spain
▪ Open and friendly society to foreign investors and tourists 40.3% of our
tourists have visited Spain ten or more times in their lifetime. 82% are repeat
visitors.
▪ Spain is among the world´s top 10 safest Country according United Nations
Office on Drugs and Crime (Homicide rate).
▪ Outstanding and modern Health System with very high standards. Open to
expatriates. Spain ranks 11th World Country in Health infrastructure, 4th with
longer Life Expectancy and 5th in Healthy Life Expectancy (WCY2019).
▪ 3rd country in the world in terms of UNESCO World Heritage Sites (48 sites).
Historical cities, Monuments and leading Museums.
▪ 2nd country in Europe in Natural Areas and Natural spaces declared UNESCO
Biosphere Reserves (42, only behind USA with 47).
▪ 2nd country, behind USA, in receiving foreign golf tourists, with 431 courses.
More than 120 Spa Resorts.
▪ More than 300 days of sunshine a year and more than 2,600 km of Green Tracks;
various Skiing facilities; rural activities. World leader in Blue Flags Eco-Label
Record) with 666 Beaches, Marinas and Boats awarded.
▪ First class Gastronomy recognized all around the world.
Quality of Life in Spain
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Aerospace
Environment
& Natural Resources
Healthcare
Biotec & Pharma
ICT & Digital
Agrofood
Real Estate
& Tourism
Investment and Business Opportunities
Automotive
Logistic
& Transport
Chemicals
Industry 4.0
Near Shore Finance &
Business 49
More information about Spain…..
Spain: your partner in Europe
The Spanish Economy
Investor Services Catalogue
ICEX – Invest in Spain
Castellana 278 – Madrid, 28046 (SPAIN)
T (+34) 91 503 58 00
[email protected] 50NIPO: 11420045X
