By Consejeros magazine | Although the unemployment rate in Spain has not stopped racing upwards over the year, from 20.4% in January to 22.6% in September according to Eurostat, it has not been an impediment for Spanish multinationals to achieve the impossible: a healthy increase in their business figures.
Spanish investment abroad is growing again up to €15.7 billion in the first half of 2011 (+65%). The amount, truth be told, is still far from the record it reached in 2007, of €97.8 billion.
The secret? Its increasing international presence, especially in markets like Latin America, which has been growing at above 4% during the crisis years (much more in Colombia, Peru and Brazil). Not to mention parts of Europe, which also have behaved well enough throughout 2010 and into 2011, with growth exceeding 4% in some northern countries. And the increased exposure to Asia, where GDP growth is soaring. All this has allowed Spain Corp. to compensate for the low business activity in Spain.
This growth in international business has not only been a result of major corporate transactions. Spanish direct investment abroad has also been key. The figures speak for themselves.
Spain, for several years, has been the first, second or third largest investor in the US. In terms of stock, the US receives 10% of the accumulated Spanish investment abroad and Latin America is a favorite destination with 28.2% of the total. The EU remains the preferred destination for our foreign investments and gradually Asia, especially China, and North Africa are an important focus of our companies.