UK investment in Spain down 11% and already surpassed by US and France | Economy

The negative effects of leaving the European Union and the pandemic that started in March 2021 had a negative impact on the arrival of the British capital in Spain. Between January and June 2021, UK investment fell 11% to 895 million euros, downgraded to third in the ranking, according to Barometer VII on Climate and Outlook for UK investment in Spain, prepared by the United States Chamber of Commerce. Kingdom in Spain and International Financial Analyst (AFI).

Ahead of the UK are the United States, with 2,008 million, and France with 1.161 million. Nonetheless, the report emphasizes that flows into the UK in the first half of the year “continued to be very productive, highly diversified and characterized by a lack of divestment” and that the volume accumulated since the third quarter of 2016 (17,841 million) was the same as that accumulated in the previous five years. . “The United Kingdom continues to be a strategic partner for Spain and the Free Trade and Cooperation Agreement between the EU and the UK provides certainty for companies and investment”, said Xiana Méndez, Secretary of State for Trade.

In distribution by autonomous communities, Madrid and Andalusia concentrate 70% of the investment, with 494.9 and 139.1 million, respectively. Already at a great distance, Catalonia emerged in third place, with 67.1 million; Castilla y León, with 30.8 million; The Basque Country, with 20 million, and the Valencian Community, with 10.3 million. By sector, energy has a monopoly on 221 million; other food items 129.9 million, and, furthermore, real estate (99.9 million) and construction (94.8 million

The barometer was accompanied by a survey of 2,200 British companies active in Spain that supported the greatest optimism after a year and a half of the pandemic. Only 6% think the business climate is bad, compared to 73% achieved twelve months ago, and 76% predict that investment in Spain will increase in 2022, compared to 46% this year.

Matt Thompson

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