Doing business in Spain
As the world’s 16th largest economy by GDP and a top destination for foreign direct investment (FDI), Spain provides an ideal environment for foreign companies wanting to expand or invest globally. Spain combines low costs with strong innovation skills, thanks to a thriving service industry accounting for more than 76% of its GDP and a young, highly qualified population.
Our Partners:
/ The Spanish Market in a few words
Spain offers significant investment opportunities across various key industries:
- Pharmaceutical and Biotechnology sector: Spain is the world’s second-largest hub for clinical trials. The country’s pharmaceutical industry is robust, with significant investments in R&D. In 2023, Spain reached a record R&D investment of €1.4 billion. According to the CPHI Annual Report, Spain ranks 6th globally as a growth market for pharmaceuticals heading into 2024, marking a significant rise of seven places from the previous year with a 17.8% increase. Within Europe, Spain ranks 3rd, surpassing major economies like the UK, Italy, and France, and closely approaching Switzerland’s score.
- Tourism sector: Since 2015, Spain consistently ranks among the top 3 countries in the Travel & Tourism Competitiveness Index. As of 2024, Spain maintains its strong position as the 2nd most competitive out of 119 economies.
- Agri-food industry: With a turnover of €142.1 billion (representing 24.2% of the manufacturing sector and contributing 2.4% to the national GDP), Spain ranks 4th in Europe in food industry turnover. This sector, dominated by SMEs, constitutes 96.1% of the 28 335 food and beverage companies.
- Energy sector (19.6% of the GDP in 2022): Spain is heavily investing in renewable energy, especially solar and wind power, with 58% of its electricity coming from renewable sources.
48 M
Population
EUR
Currency
1.4 tn
GDP (Euro)
2.5%
Economic Growth Rate
/ ALTIOS in Spain
Based in Madrid, ALTIOS Spain specializes in guiding foreign companies through successful expansions into the Spanish market. Since our inception, we’ve achieved a consistent 20% annual growth in sales, while our team has continuously expanded. Moreover, in the past 3 years alone, we’ve quintupled our project portfolio and doubled our client base. This year, we successfully opened our office in Portugal. From initial internationalization planning to establishing a local presence and beyond, we provide comprehensive support including:
- Subsidiary set up & management
- Payroll management
- International Strategy Development
- Talent recruitment
- M&A
- Regulatory compliance for fiscal and HR matters
/ Manuel MORENO
Managing Partner
Madrid, Spain/Lisbon, Portugal
m.moreno@altios.com
/ Set Up a Business in Spain
/ Ready to grow in Spain?
Our team of friendly experts loves nothing more than helping businesses like yours get off to a flying start in Spain.
