Mexico City, (EFE) — Latin American investment in Spain is growing year after year. Spain is one of the main entry routes for transatlantic investment in Europe. The Iberian Peninsula has gained the greatest popularity among the citizens of Mexico and Argentina. Investors from these countries generously invest in the country’s technology and financial sectors, as well as in the local real estate market.
In the current situation, private investors and businesses from Latin American countries are seeking to diversify their asset portfolios through international markets. Europe, on the other hand, is proving to be a profitable destination due to the depreciation of the euro and the many government incentives in the eurozone aimed at creating a very conducive climate for investors. Over the past 10 years, one of the main tools for attracting investors has been Golden Visas, granted, among others, to those who purchase real estate.
In Spain, these visas have become a pivotal factor for the country’s economic development. There are now more than 500 Mexican companies making stable investments in Spain. In 2023, these investments increased by more than $33.68 billion. Much attention is paid to the Madrid region. Antonio Basagoiti, president of the Spanish Chamber of Commerce in Mexico, reports there have recently been frequent meetings between Mexico and Spain, which fuel relations between the two countries in the economic sphere.
Argentina: second largest investor
Argentina ranks second after Mexico in the list of investor countries. According to the Global LATAM 2022 report by ICEX, the amount of funds invested in Spain by Argentina is substantially less than that of Mexico. In 2022, it amounted to about €9.369 million. Large multinational corporations based in Argentina open their branches in Spain. They operate in the technological services, food and pharmaceutical industries.
In recent years, small Argentine businesses have also begun operations in these areas. In addition to the above, these companies are involved in the gastronomy sector and logistics. Most of these businesses comprise the Argentine-Spanish Association of Entrepreneurs (ASAEDE), currently consisting of 284 members. Of these, 70% are in the technology and digital sector, and one in ten companies does marketing of Argentine food products, such as meat and wine, and a restaurant business.
Colombia loses interest in Spain
Spanish businesses and investors are showing great interest in the Colombian economy and market. Spain is the second largest investor in this Latin American country after the United States. According to the Central Bank of Colombia, in 2022, about €2.440 million was invested in the country’s economy. In Colombia, however, interest in the Spanish market has been declining in recent years. In the same 2022, the amount of funds invested from Colombia in Spain decreased to €142.5 million. The money is concentrated in sectors such as aviation, food processing, insurance, services, and fashion.