By Joshua Manning • 07 July 2022 • 18:24
UK becomes leading investor country for Spain in first quarter of 2022 Credit:Onnur Akkurt/Shutterstock.com
The UK is now the leading investor country in Spain as of the first quarter of 2022 after occupying third place in the ranking of foreign direct investment (FDI) in Spain in the last quarter of 2021, as reported by EuropaPress, according to the British Chamber of Commerce in Spain.
The UK has now surpassed the United States, Australia and France, thanks to the agreement between the British fund CVC and LaLiga.
According to the study a “relevant fact to take into account has been the entry of the British fund CVC in La Liga of Spanish football, which has meant an investment towards the sports sector of almost 2,000 million euros, only between January and March 2022, which represents almost 80% of the total flows in the quarter.”
By autonomous communities, Madrid continued to be the main destination for British investment in the first quarter, a position it has held since 2013, by cornering €2,259 million, accounting for 88.9% of the total, ahead of the Valencian Community, with €127.4 million (5%); the Basque Country, with €73 million (2.9%); and Catalonia, with €35.4 million (1.4%).
Aida García, president of the British Chamber of Commerce in Spain and director for Spain and Portugal of Cambridge University Press & Assessment stated:
“These figures highlight the UK’s clear preference for Spain as a target country for its investments.”
“In this regard, over the years, we have seen an exponential evolution that is consolidated in this first quarter of 2022,”
“We are confident that, despite the current context, this trend will continue to grow and consolidate this first place worldwide,” she added.
The news follows reports of the government of Spain adding an extra €1 billion to the country’s military budget in response to Russia’s invasion of Ukraine.
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Originally from the UK, Joshua 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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