The Diplomat
Seven out of every ten Spanish companies established in Italy, that is, 70%, foresee growth in their investments during the current year, and 87% will do so in the next five years. This is clear from the first “Climate Barometer and Spanish Investment Prospects in Italy”, promoted by the Spanish Chamber of Commerce and the Spanish Chamber of Commerce in Italy, with the collaboration of the Spanish Embassy in Italy.
The report, published yesterday, indicates that the reasons for these companies to increase their investment in Italy include improving productivity levels in the company (22%) and the aspiration to develop new innovation activities (21%). In geographical terms, Lombardy (15%) and Lazio (12%) are positioned as the main recipient regions of these new investment projects.
Likewise, 67% of these companies based in the Italian country plan to make new hires in the short term, although they perceive the state of labor market regulation in Italy as “inadequate.” In 2022 alone, direct investment from Spain in Italy contributed to the generation of more than 71,000 jobs.
By sectors, Spanish investment in Italy has historically been concentrated in Telecommunications, Financial Services and Insurance, reinsurance and pensions; and in 2022, Telecommunications represented 34% of total Spanish investment in Italy, registering an annual increase of almost 5,000 million euros.
Spain is Italy’s fifth supplier and client worldwide, with nearly 15,000 million euros of stock and around 300 companies with Spanish capital established in the country, explained the president of the Chamber, José Luis Bonet, who He stressed that “the overall assessment of the Italian business climate by Spanish companies is, in general, positive.”
For his part, the president of the Spanish Chamber of Commerce in Italy, Luigi Patìmo, indicated that “just as 70 years ago, the spirit of the Chamber remains the same, supporting Spanish companies so that they can accelerate investment in Italy”.
