94% of Foreign Companies Will Increase or Maintain Their Investments in Spain
94% of foreign companies expect to increase or maintain their investment levels in Spain / Photo: iStock
Over 90% of foreign companies expect to maintain or increase their investments, number of employees and revenues between 2015 and 2018. And the average rating of the country for engaging in their activity went up from 2.7 to 2.9 out of 5.
These are some of the data featured in the 8th edition of the "Barometer of the business climate in Spain from the foreign investor's perspective," a report co-produced by ICEX-Invest in Spain, the conglomeration Foreign Multinationals for the Spain brand and the International Center for Competitiveness (ICC) at IESE.
The Barometer shows the rating and importance given to the business climate in Spain by more than 500 foreign companies. It provides insight into the strengths that need to be maintained and the central areas of activity to focus on.
According to the study, the key future prospects for investment by foreign companies in Spain are:
The Barometer also shows the trends identified by the source of funding for companies. In terms of investing in Spain, the plans of German, British and French companies are slightly above the average of the companies surveyed. Germany and Italy have the highest percentage of businesses with plans to increase or maintain their workforce in 2015. Companies with funding sourced from Germany and the United States are the most optimistic about increasing revenues in the coming years.
For foreign investors, infrastructure remains the most highly rated area, followed by human capital and quality of life. It is interesting to note the positive rating of airports and high-speed rail in relation to infrastructure. In terms of human capital, the availability of skilled labor and the quality of business schools are the aspects most highly rated by investors. All the areas studied show improved ratings compared to the 2014 Barometer.
The Barometer also highlights the areas that investors feel should remain priorities. This year, the cost of electricity takes center stage when it comes to finance-related aspects. This replaces previous years’ focus on the main opportunities for improvement.
The areas considered as priority are those with a greater difference between the importance and the weighted rating ascribed by investors. Along these lines, language skills is still considered the main problem, while adaptation of labor laws to the needs of the company is no longer one of the main concerns.