It is a well-established fact that Spain is a hotspot for tourists, but it’s not just a center of pleasure pilgrimage. It is also a commercial magnet for foreign investors. But one cannot help but draw a link between the two. More tourists mean more foreigners, and more foreigners translate to an increased likelihood of foreign investment.
Spain has seen some resurgence in its economy following a six-year-long recession. They have since risen to become one of the world’s largest economies in the world. The country also ranks 11th on the list of countries most attractive for Foreign Direct Investments. The country is also conducive for entrepreneurs. There are online Spanish loan services available for prospective investors. One of those companies is Creditron. You can visit Opinion Espana to access reviews of their services.
You might also find these tips on becoming an entrepreneur in Spain very helpful.
This article will briefly explain why Spain is an appealing country for foreign investment.
1. Market Power
Geographically, Spain is at an advantage. The country is in Europe, and it borders North Africa and the Middle East. It also serves as a political capital for most Latino countries. Foreign investors recognize this advantage and are taking advantage of it. Investing in Spain — which itself has a robust market size of nearly 60 million consumers — also allows them to access the markets in the EMEA region.
Compared to other countries in the Eurozone and the EU, Spain has a workforce that’s 29% and 16% cheaper. Companies realize that investing in Spain would be a better value for their money. Aside from the low cost of employment, the costs of electricity are also considerably lower than in most of Europe.
With the growth of its renewable energy industry, energy will become even cheaper and cleaner. The cost of living is also low, and expatriates would find Spain to have better deals for real estate.
3. Quality of Living
Businesses crumble in wartorn zones. Spain is on the other end of the scale of all that’s wartorn. The country is not only one of the most peaceful places to live; United Nations has predicted that by 2040, it will become the country with the highest life expectancy.
Another study by Bloomberg places Spain atop the list of the healthiest nations in the world. Its good weather, sanitary practices, food, healthcare, and quality of living make it an appealing spot for expatriates. After all, health is wealth.
4. Great Foreign Investment Policies
The Spanish government has implemented policies targeted at attracting investors. One of such programs is the Golden Visa. This program affords non-EU investors who have invested at least €500,000 in properties in Spain quicker processing of their residency applications. Incentives like this one lead to an increase in foreign investments.
Spain is a magnet for people in embroidered hearts and people in suits. Ceteris paribus, as economists say, is likely to remain so for a long while.