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Industry concentrates 60% of increase in foreign investment in Catalonia
- • From 2010 to 2015, foreign investors channeled 1.066 billion euros each year, on average
- • For the first time, industry has created 50% of all employment
According to data from the Economic Report on Catalonia published recently by the General Council of Chambers of Commerce in Catalonia, the Catalan manufacturing industry has fueled the growth in foreign investment in Catalonia, making up 60% of the total increase of all economic sectors in the country.
This is a very positive indicator resulting from the new approach to the productive model that led to the commitment to reindustrialization a few years ago as a result of the recession. Moreover it also shows the total confidence companies established here have in Catalonia. Another indicator that points to the progressive recovery of the industrial sector is that, for the first time, industry has created more than 50% of employment, which traditionally was led by the service sector.
In this sense, it must be noted that the indicators vary from year to year in terms of the industrial sector’s contribution to the GDP and job creation. Therefore, it is better to look at a longer period of time to determine whether or not the trend is favorable. This way, and according to data from the report, between 2010 and 2015, foreign investors channeled 1.066 billion euros each year on average into the Catalan manufacturing sector, 30% more than the 735 million euros invested on average between 2004 and 2009.
Finally, the report also highlights that one of the key factors of economic growth in Catalonia is the internationalization of companies, an implacable process that begun as a result of decreased internal demand during the economic crisis and has pushed exports to grow faster than the global average. The volume of Catalan sales abroad in 2015 rose 6.1% from the same period in 2014 for an all-time record of 63.8 billion euros, according to data published by the Catalan Ministry of the Economy and Competitiveness.
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