Spain’s reputation with British investors has suffered a significant decline during 2020. The UK invested in Spain during the first half of the year 1.004 million euros a number 68% lower from that invested at the same time the previous year, namely 3.125 million.

44% of UK companies plan to reduce their investment this year in Spain, 45% plan to maintain it in 2021. More than seven in ten companies (73%) consider that the climate in our country is bad or normal for doing business, according to Barometer VI results on climate and UK investment prospects in Spain, presented this Monday by the British Chamber of Commerce in Spain and co-developed with Financial Analysts International (Afi). That number means practical s and have reversed the proportions from those who consider the business climate good or acceptable, ie 81% last year to those who now consider it normal or bad (73%).

During the first half, foreign direct investment (FDI) was led by Switzerland (2.963 million), and the second largest investor is the UK (1,004 million), followed by France (766 million), Japan (514 million), Germany (465 million), the US (316 million) and the Netherlands (172 million).

Data showing a decline in investment in our country have been deemed “positive” in the global or dual crisis framework that the UK is facing, pandemic as well as Brexit . These two circumstances, according to Luis Pardo, president of the British Chamber of Commerce in Spain, “not only mark the future of the world and of the national economy, but can also change the commercial and investment dynamics that exist between our two countries.”