西班牙 – 世界第十三大經濟體

西班牙 – 世界第十三大經濟體
SPAIN: read on, you will end up coming

What do you know about Spain? If you asked that question to a group of Asian people they will probably think about Flamenco or Bullfighting, but the truth is that this country is much more than that. Firstly, Spain is the 13th largest economy in the world, according to the World Bank. With its more than 46 million people and an extension of 504,645 Km2, it is one of the most developed countries within the European Union, to which it gained membership in 1986. That specific step changed completely its society and economy, starting a process of internationalization and competitiveness that turned out to be the biggest development the country has ever known.

Furthermore, Spain has a strategic location in the geopolitical map, as a gateway to the rest of Europe, Latin America and the North of Africa, representing around 1.3 billion consumers. Its status as an EU member offers access to the world’s largest market (EU-27). For its part, Latin America is a region with which we share historic and cultural ties. This fact has not gone unnoticed by the 12,800 foreign companies already established in the country, making Spain an international business hub.

This has been further supported by its exceptional transport infrastructure. It features a comprehensive network of airports, ports, roads and train lines. It is in fact a world leader in high speed and has become a major reference for the development of high speed railway in many different countries such the United States, Saudi Arabia and Singapore.
In 2012, Spain received 634,539 USD million in foreign direct investment, ranking the 12th country in the world. Of a greater importance is the nature of the investment: 1 in 3 projects have been made in high added value projects, such as ICT, biotechnology, health sciences and aeronautics, all of them sectors of great technological value. Moreover, the workforce is one of the highest qualified in Europe and its operating costs (salaries and rental and communication) are very competitive.

European countries have traditionally been the main investors in Spain. Nevertheless, something is changing. The first semester of 2013 showed Hong Kong as the 10th biggest investor in Spain. It represents the 3.5% of the total incoming investment with an increase of 488% in relation to the same period last year, amounting to 326 USD millions. As a matter of fact, some Hong Kong companies have seized opportunities in the Spanish market: Hutchison Whampoa Ltd operates one of Barcelona’s Port terminals, Jardines Group opened Mandarin Oriental in Barcelona and cosmetic chain Marionnaud has 115 shops all over the country.

Spain is one of the top 20 exporting countries in the world. Besides, it registered a historical record in its exports of goods in 2013, with an increase of 2.9% year-to-year (being 1% the average of the EU), and an upturn in the exports to the Asian (10.3%) and African continent (8.4%). Industrial technologies, chemical products, raw materials and fashion were the main goods exported during 2013. Interestingly, one of the main destinations of the latter is Hong Kong, where many Spanish fashion brands have debarked. Shoes made in Spain stands out and are fairly popular in department stores. Both exclusive fashion brands (like Loewe or Manolo Blahnik) and chain stores (like Mango, Zara or Massimo Dutti) have set up their own shops in the city. In particular, Zara’s new flag store is scheduled to open this year in Central Hong Kong, in an impressive building.

As stated, Spain is a major exporter of industrial goods. It is not incidental that Hong Kong’s train network has something to say about it: some of its MTR trains were manufactured in Spain by Adtranz and CAF. They built two variants, one used in a conventional line and the other, more luxurious, for the Hong Kong Express train.

In terms of services, it was the 8th largest exporter in 2013 and Spanish companies are leaders in different service sectors such as Santander and BBVA in finance, Telefonica in telecommunications or ACS in engineering. Many of these firms, especially those specialized in finance and architecture, have found their place in Hong Kong. Spain also has very good institutions in another essential service sector: executive education. IESE, IE and ESADE have been recognized by the Financial Times as some of the best Business Schools all over the world (normally, at least two Spanish business schools appear in the world’s Top-10 ranking made by Financial Times every year).

Spain is definitely present in Hong Kong, and it takes pride in the spread of knowledge and interest in Spanish gastronomy over the last years. People from Hong Kong are adventurous in their food choices and have a curiosity for new cuisines. There are currently more than 40 Spanish restaurants in the city and some of the most representative chefs have also landed in Hong Kong. Foodie’s greatest hits are pork and seafood plates, ham and paella. In fact, there is a similarity between tapas and ‘dim sum’ as they both have in common the value of sharing food and time with our beloved family and friends.

As a tourist destination, Spain offers many other choices apart from “beach and sun”. As the 2nd country in the world with the largest heritage sites (according to United Nations Agency, UNESCO), it has, indeed, an enormous cultural, architectural and historical richness. From the Altamira Caves in Cantabria to the Alhambra in Granada, there are an almost infinitive number of sites to visit and pieces of art to contemplate.

So, what are you waiting for? Spain has the potential to fulfill different aspects of one’s life, whether it is business or personal enjoyment and development.