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.