A permanent economic presence also means a permanent projection of image. Spain is now the sixth-ranking global investor. Spanish foreign investments are on the rise and flow to all six continents, although Latin America is the most important destination.

The foreign investment made by the major Spanish companies to set up business activities is evidently not speculative but forms part of a serious expansion and growth strategy. Telefónica, Gas Natural, Iberdrola, Acciona, Inditex, BBVA, Santander, Repsol-YPF, Pescanova, Barceló Resorts,NH Hoteles, Roca, and many others have carved out a path which others are following. This is Spain’s economic presence in the world.

Spain’s presence in Latin America is an asset which allows it to play a special role in the European Union. In fact, Europe’s Latin American agenda was virtually non-existent prior to Spain’s adhesion to the EU.

Now, thanks to impetus from Spain, Europe’s commitment is shown by the important rise in aid and the flow of direct investments to Latin American countries.

Furthermore, the EU’s eastward enlargement has offered new opportunities to Spanish companies.

With regard to inward foreign investment, Spain has traditionally been the base of many multinationals in the automotive sector, among others, mainly companies from the EU, the US and Japan. A new government agency, INTERÉS, has the task of promoting investments from new countries on the basis of Spain’s convenient location for trading links with European countries, North Africa and Latin America.