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Spain consolidates as world’s second largest destination for Ibero-American investment

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20 de April de 2022
in Frontpage, Frontpage, News, Subscribers, The world in Spain
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Spain consolidates as world’s second largest destination for Ibero-American investment

Andrés Allamand during his speech / Photo: SEGIB

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Spain consolidated its position in 2021 as the second world destination for Ibero-American investments outside the region, only behind the United States, and as the first gateway for Latin American capital to the European market.

 

This is the main conclusion of the fourth edition of the Global LATAM 2021 report, promoted by ICEX-Invest in Spain with the collaboration of the Ibero-American General Secretariat (SEGIB) and which was presented yesterday in Madrid by the CEO of ICEX Spain Export and Investment, María Peña, and the Secretary General of the SEGIB, Andrés Allamand.

 

According to the report, the volume of Latin American investment in Spain recovered in 2021, after the drop experienced due to the pandemic. Specifically, an investment of 1,044 million was recorded last year, up from 1 billion in 2020.

 

The report also reveals that Latin American companies make up a fundamental part of the Spanish business fabric. Overall, the accumulated investment by the region in Spain is 47,168 million euros -63,332 million if investments in holding companies are added-, which represents 9.8% of all foreign investment in Spain. The trend is, moreover, growing, as investment has increased by 92% since 2010. Only the United States, the United Kingdom and France have invested more in Spain than Latin American companies, which have invested more than other middle-income economies such as China.

 

In addition, the report expects Latin American companies to continue to invest heavily in Spain in the coming years thanks to several factors, such as the macroeconomic and institutional stability offered by the country, the possibility of building a global brand from Spain and access to technology and knowledge networks. Other aspects that will favor this trend are the relative ease with which large Latin American companies continue to finance their expansion processes in international markets, the ambition of the region’s technology companies to access the European market and the progress in the modernization of pending bilateral agreements with Chile and Mexico.

 

During the inauguration of the event, María Peña highlighted that the report, “the only one that carries out an exhaustive and regular follow-up of this important economic reality”, reveals the “ample space that exists for Latin American companies to continue investing abroad, and that Spain continues to be the main destination for these investments when they are directed to the European continent”. For his part, Andrés Allamand declared that, “after the fall suffered by the pandemic, it is clear that today our region is positioned as an active and attractive protagonist for potential investment receiving countries”. “Our obligation today is to continue working to face the challenges of the global scenario and to promote investment to and from Latin America,” he added.

 

Following the same trend as Spain, foreign investment by Latin American companies at a global level increased to 57,403 million dollars last year, according to data from Global LATAM. This is one of the highest figures in the historical series and is 25.5% higher than pre-pandemic levels. In cumulative terms, Brazil has the highest Latin American investment in the world, with 277,454 million dollars, followed by Mexico (178,947 million) and Chile (145,333 million). In terms of economic size and GDP, Chile leads in cumulative foreign investment, far behind countries such as Colombia and Brazil. In contrast, other economies, such as Peru and Argentina, have a less internationalized business fabric.

 

 

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