Why is Spain the ideal destination for your export or internationalization?

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“5 reasons why Spain is an ideal destination for your export or internationalization: solid and diversified economy, openness of its economy to the outside, similar culture, infrastructure and innovation, support for foreign creation of subsidiaries"

By: Julio Foyaín

If you are a manager of a SME from the Latin American region and you want to expand your business to new markets, you have surely considered the possibility of exporting or internationalizing your company to Spain. And it is not for less, since Spain offers a series of advantages and benefits that make it the ideal destination for your growth project. Here I present 5 important reasons:

First, Spain is a country with a solid and diversified economy, which ranks among the 15 largest in the world and the 5 largest in the European Union. Its GDP per capita exceeds 26,000 euros and its gross disposable income of households is more than 18,000 euros. In addition, it has a population of more than 47 million inhabitants, which represents a very large and attractive potential market for your products or services.

Second, Spain is a country with a great openness to the outside and a strong international vocation. Its foreign trade accounts for more than 60% of its GDP and its exports have grown by 50% in the last decade. Likewise, it is the second largest investor in Latin America and the ninth recipient of foreign direct investment in the world. Its geographical position, its belonging to the European Union and its belonging to the euro zone give it a competitive advantage to access other nearby and strategic markets, such as the European, African or Asian ones.

Third, Spain is a country with a culture and a language very close to those of Latin America. Its history, its heritage, its gastronomy, its music and its art are elements that generate affinity and trust among consumers and entrepreneurs. In addition, Spanish is the second most spoken language in the world, with more than 580 million speakers, which facilitates communication and integration of your company in the Spanish market.

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Fourth, Spain is a country with a first-class infrastructure and innovation. Its transport network, its energy system, its health system, its education system and its financial system are some of the best in the world and offer optimal conditions for the development of your business activity. In addition, Spain is a country leader in innovation and technology, with a high degree of digitalization, a strong investment in R&D and a dynamic and diverse entrepreneurial ecosystem.

Fifth, Spain is a country that offers facilities and support to foreign investment and the creation of commercial and/or productive subsidiaries. Its general legal regime of foreign investments is liberalization, except for some exceptions in specific sectors that require prior authorization. Its procedure for setting up a subsidiary is simple and fast, and only requires complying with a series of formal and documentary requirements. In addition, there are various tax, financial and labor incentives to encourage the implementation and development of foreign companies in Spain. According to the available data, the investment of Latin American companies in Spain has always had an increasing trend, from a more timid start in the eighties, with the presence of the multilatinas, to an extraordinary growth of 92% in the last decade. Latin American companies maintain an accumulated investment of 47,168 million euros in Spain, which places them as the fourth foreign investor in the country. The main sectors of destination of Latin American investment in Spain are telecommunications, energy, banking, food and tourism.

In summary, Spain is the ideal destination for your export or internationalization, as it offers you a solid and diversified economy, a great openness to the outside and a strong international vocation, a culture and a language very close to those of Latin America, a first-class infrastructure and innovation, and facilities and support to foreign investment and the creation of commercial and/or productive subsidiaries. If you want to take advantage of these advantages and benefits, and have the support, guidance and impulse of native experts in your commercial integration process, we invite you to contact ACOEXT, your effective bridge of commercial integration between Latin America, Spain and from this one with Europe. At ACOEXT, we link for success in internationalization, fundamental values and principles that guide our actions and behaviors throughout our organization, contributing to the growth and global consolidation of your organization and without forgetting the balance between economic sustainability, inclusion and the environment.

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