The Spanish Market

An essential country in export strategies.

In Europe, Spain is in 5th economic rank:

  • 2nd among car manufacturers
  • 5th for aeronautical production aéronautique
  • 3rd in the manufacturing of machine tools
  • 4th in the manufacturing and processing of plastics
  • 2nd among tourist destinations

The industrial economy is relatively concentrated in a few areas: mainly Catalonia, Madrid and the Basque Country, Community of Valencia, with some sector specificities.

After a historic crisis from 2008 to 2014, Spain is experiencing a major catch-up effect with growth rates above 2 to 4% since then. On this market of 46 million inhabitants, opportunities are opening up in all sectors: industry, services, technologies, etc.

Some of the points you need to know for your local strategy:

Some of the Spanish market’s features shall be taken in account:

  • a very marked regionalization with also linguistic specificities
  • the weight of SMEs,
  • a strong competition

However, this is a very open market for companies that bring an innovative product to it, that offer added value or that have a sufficiently competitive positioning.

Business relationships are informal but demanding. Proximity and personal involvement are often keys to success. This imply a careful consideration of the best approach strategy on the market.