Guide to Business in Spain logo

1. Introduction

Spain is one of the most important economies in the world, ranking 13th in size and has an immense capacity to attract foreign investment (currently ranked 11th in terms of foreign direct investment)1. Spain’s appeal for investment lies not only in its domestic market, but also in the possibility of operating with third markets from Spain. This is because Spain has a privileged geo-strategic position within the European Union giving access to more than 2,200 million potential clients in the EMEA Region (Europe, Middle East and Africa). Its strong economic, historic and cultural ties also make Spain the perfect business gateway to Latin America.

Furthermore, Spain is a modern knowledge-based economy with services accounting for almost 75%2 of economic activity. The country has become a center of innovation supported by a young, highly-qualified work force and competitive costs in the context of Western Europe.

This chapter gives a brief description of Spain’s vital statistics: its population, its political and territorial structure and its economy

1According to the 2019 A. T. K Kearney FDI Confidence Index.

2National Statistics Institute. Data from 2019.