Spain: a Key Destination for British Business Development
When it comes to the international business sector, the UK holds status as one of the most accomplished ' not only within Europe, but all across the globe. In fact, with a solid presence in a variety of diverse industries, the UK is the currently the chief recipient of Foreign Direct Investment in Europe, holding 19.6% of all FDI (stock) within the European Union, and 8.9% around the world.
However, the nature of dedicated industries within the realm of international business equates to various countries having stronger business ties with Britain ' some prominent European examples including Italy, France, Germany and Ireland. Yet among these key destinations for British business development, the country of Spain has emerged as one of the strongest.
The UK is currently Spain's fifth largest supplier, with export goods valued at £9,985.6 million in 2008 alone. What's more, the UK is the single largest foreign investor in Spain, having invested £1.6 billion in the country in 2008. There are currently an estimated 700 British companies operating in Spain, with many more on the horizon.
Of course, one reason for the exceptionally successful business relationship between the UK and Spain is a certain business parallel between the two countries. Spain, like Britain, holds a very developed and competitive business market, and almost anything marketed and sold with success in the UK is likely to perform with similar results in Spain.
Another factor has to do with the increasing number of Brits that travel to or live in Spain. With approximately 16.2 million British tourists visiting Spain each year, and an estimated 700,000 registered Brits living in Spain permanently, Brits are investing not only in Spanish economy, but also in the UK's economy via British business in Spain. And, with all the leisure and business travel to Spain ' for instance, with countless Brits booking
About the Author:
Adam Singleton writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.