By Matthew Roscoe • 25 January 2021 • 12:11
CREDIT: "FDI - Foreign Direct Investment acronym with marker, concept background" by focusonmore.com is licensed under CC BY 2.0
FOREIGN Direct Investment Grew 52% in Spain in 2020 Despite a Global Plummet
Foreign direct investment plummeted in 2020 as a result of the impact of the pandemic, with an average drop of 42 per cent globally, to a volume of 859,000 million dollars (705,659 million euros) from 1.5 trillion dollars (1.2 trillion euros) in 2019, reaching its lowest level since the 1990s.
However, Spain registered an annual increase of 52 per cent thanks to the acquisition of companies by foreign firms, according to the United Nations Conference for Trade and Development (Unctad).
“Foreign direct investment in Spain rose 52% thanks to various acquisitions, such as the purchase of 86% of Masmovil by US funds Cinven, KKR and Providence,” Unctad said.
However, the increase observed in Spain or in other countries such as Sweden, where it went from 12,000 million dollars (9,856 million euros) to 29,000 million dollars (23,819 million euros), was an exception to the general trend in Europe, which lost two-thirds of the foreign direct investment of the previous year, until registering a negative balance of 4,000 million dollars (3,285 million euros), with a stagnation of the data in the United Kingdom.
Speaking on January 21, Spain’s Trade Secretary, Xiana Méndez, took part in the Eleventh Spain Investors Day (SID) economic forum in which she encouraged foreign companies to invest in Spain – stating that a new website has been set up encouraging investors to discover more about the way in which the Spanish economy is finding its feet again following a difficult 2020.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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