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The Spanish economy has emerged from a recession in the third quarter of 2013, with +0.1 per cent growth after nine quarters of decline. Growth since then has developed positively to reach 1.4 percent in 2014. The Spanish government expects the uptrend to continue with a growth of 2.5 percent forecasted for 2015.
The unemployment rate stood at a very high 23.7 percent (5.45 million unemployed) in 2014. For the year 2015, the government expects a decline in unemployment to 22.9 percent.
The national debt rose in 2014 to 97.6 percent with the budget deficit amounting to 5.7 percent for the same period.
Why invest in Spain?
- The Spanish market is one of the largest in Europe, with 47 million consumers that have a purchasing power above the European average. Add to this number, more than 50 million tourists that visit the country yearly and you have a throbbing center for demand.
- Spain is a platform for doing business with not only the European Union but also with North Africa and Latin America, owing the significant number of trade treaties.
- Spain also has a lenient taxation regime and investment protection laws for foreign businesses. As a result, more than 12,800 foreign companies are present in Spain benefit from a favorable business climate: corporate taxes and taxes that are lower than the European average and R & D rebates are the second most favorable among OECD countries for both large companies and the SMEs.
- Spain also stands out with its high quality of communications network and infrastructure, as well as a dedicated and qualified work force.
- Spain focuses on innovative production with a strong technological logic that creates business opportunities in sectors of high added value. Such strategic sectors for investment in Spain are: information technology and communications technology (ICT), environment, water treatment, health Sciences, biopharmaceutical and biotechnology, aeronautics automotive, logistics, and renewable energy.
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