Reasons to invest in Spain
Although the crisis looks set to continue for a few years yet there is a silver lining in the gloomy skies over Spain. For while many are looking to reign in their spending, other savvy investors have spotted prime investment opportunities that are ripe for the picking.
According to a report published by BNP Paribas Real Estate, here are the top ten reasons for investing in Spain.
1-A time for opportunities
With property prices sinking to their lowest level in over a decade, now could be the perfect time to invest in those areas that have already seen a levelling off in property values. It means that those investing this year can look forward to a healthy return on their money in three to five years when prices begin to rise again.
2-For its legal framework
Spain has a favourable legal framework that doesn't distinguish between EU residents and non-EU residents. The stability of the Spanish legal institutions combined with attractive investment opportunities allows investors to diversify their portfolios in Spain and southern Europe.
3-Economic reforms
Spain is forging ahead with reforms designed to make it more competitive. Prime Minister Mariano Rajoy is cutting government spending, privatising industries and making labour market reforms. As well as a restructuring of the savings bank sector, the Bank of Spain is boosting confidence by demanding banks come clean about their losses.
4-Infrastructure
Spain boasts an exceptional road and railway network connecting its cities and numerous airports and ports. Engineered to promote trade and tourism, the jewel in the crown is the country's 2,900km long high speed train network, which links major cities including Madrid, Barcelona, Valencia and Málaga.
5-A gateway to Europe, Latin America and North Africa
The country is a key player in the trade relations between Latin America and Europe due to its historical and linguistic bonds, and not in small part due to its enviable location, which serves as the bridge to North Africa and a gateway to the Mediterranean. The ports of Algeciras, Valencia and Barcelona are among the largest ports in Southern Europe. They are also soon to benefit from hundreds of miles of new track to boost the rail transport system.
6-For its position in the world
Spain's economy is the 14th largest in the world and 5th largest in Europe. Its per capita income roughly matches that of Italy, and its level of public debt ranks below that of countries like the UK, France and Germany. In terms of direct foreign investment, Spain ranks 7th globally.
7-World Tourist Destination
Spain is one of the most popular tourist destinations in the world and made a staggering 55.6 billion Euros from this sector in 2012. It has one of the best climates in Europe, award winning beaches, mouth watering and diverse gastronomy, and lots of culture and ancient history to explore.
8-Competitive and leading companies
Spain is a world leader in the field of renewable energy, infrastructure, telecommunications and water. This expertise results in large contracts to construct and manage roads, airports and hospitals in North America, Latin America, Europe and the Middle East.
9-Highly qualified workforce
A significant porting of the working population is highly educated, tertiary and professional vocational training. Three Spanish business schools rank among the best in the world, while the country also has a large number of private international colleges.
10-Building entrepreneurial spirit
Faced with a lack of jobs, Spain's educated workforce is eager to prove itself and build up valuable work experience. A lot of young Spaniards have gained such experience working abroad, and the success of the like of Amancio Ortega, owner of clothing chain Zara and the fifth richest man on the planet, is a prime example of who Spaniard's are trying to emulate.
To download a pdf copy of the BNP Paribas report click
here
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