Yes, Latin American companies have confidence in Spain

It is true that not all of them have made this decision with complete autonomy and freedom. Exile, whether for economic or political reasons, makes up a large percentage of Latin Americans who have already integrated or are in the process of doing so in what not so long ago they called the Mother Country.  

However, at the same time that this transfer of people is taking place, an important and peaceful invasion of Spain is taking place from the other side of the Atlantic: that represented by the investment and installation of Latin American companies in Spain. This is demonstrated by the Global Latam 2024 Report, led by ICEX-Invest in Spain together with the Ibero-American General Secretariat (SEGIB), and presented at the headquarters of the former in Madrid.  

According to the report, Spain is the world's second largest destination for Latin American companies, behind only the United States. In 2023, there were 2,835 million euros, an increase of 138% in Foreign Direct Investment (FDI), all the more remarkable because this "strong resilience" in investor interest occurred in a complex economic environment, characterised by high global geopolitical tension and a financial context of high interest rates.  

With these figures, Latin America as a whole is already the fourth largest investor in Spain, preceded by the United States, the United Kingdom and France, but surpassing other major European Union countries such as Germany and Italy. Throughout 2023, eleven Latin American countries invested in Spain, with Mexico standing out (58% of the total and 1,645 million euros), followed by Honduras (501 million), Argentina (196) and Uruguay (101).  

In total, accumulated investment from Latin America now amounts to 47,150 million euros, which would increase to 66,883 million euros if investments in Foreign Securities Holding Entities (ETVE) are added. There are already 600 Latin American companies that have set up in Spain with such investments, facilitating the creation of 47,000 direct jobs.  

The document highlights in this edition the revolution of emerging companies (startups) with international reach, which are transforming the business landscape and the creation of value on the continent, acting as a key driver of the regional economy.   

All of this leads the CEO of ICEX Spain Export and Investment, Elisa Carbonell, to emphasise that "Spain is consolidating its position as the gateway to Europe for Latin American investment, above all, but also to North Africa".  

The Chilean Andrés Allamand, Secretary General of SEGIB, sees in these data that Ibero-American entrepreneurs are focusing their preferences on projects that point towards green and sustainable transformation. He cited as an example that the three largest greenfield investments (new plants) were in the production of green hydrogen, the extraction of minerals for the development of electric cars and the promotion of e-commerce, which in his opinion confirms "the region's commitment to the green and digital transition".  

At a time when political and even social model differences are on the rise, these data also show a friendlier side of the Latin American reality, and, above all, the depth of the ties with Spain, beyond clichés and not exactly white legends.