Foreign Direct Investment in Spain Triples in 1 Year
According to the United Nations Conference for Trade and Development (UNCTAD), foreign direct investment in Spain has tripled in 1 year, increasing by 177% to 25,000 million dollars.
The annual UNCTAD World Investment Report for 2010 has seen Spain rise to 14th place in the ranking for last year’s inward foreign investment, and is testament to the fact that the Spanish economy is beginning to recover since its fall in 2009.
Amongst other positive developments highlighted in the report is the fact that the global economy is gaining strength, with emerging countries increasing their direct investment to a record level in 2010.
Although global FDI flows are still around 15% lower than recorded before the financial crisis, foreign investment grew by 5% around the world to 1.24 billion dollars in 2010. The document acknowledges China alongside Russia and India has having become strong investors.
UNCTAD forecasts that FDI flows are expected to continue to grow in 2011 to 1.4 or 1.6 billion dollars. This increase should continue through 2012 and 2013, when flows could reach 1.9 billion dollars.
This could be a sign that investor confidence is coming back and hopefully heralds the beginning of a global recovery.