Catalonia is home to 9,155 foreign companies, a record high with 2.8% more than before the pandemic

Catalan Economy

17 Nov 2022

President of Catalonia, Pere Aragonès, made this announcement at the event 'Catalonia, opportunities for the future' and stated that these companies represent 18.5% of employment in Catalonia, according to a study by Catalonia Trade & Investment.

  • ​​​​​​President Aragonès, accompanied by the ministers Torrent, Mas and Serret, headed the event at the Palau de la Generalitat on Thursday afternoon in the presence of 150 executives from foreign companies established in the country
  • Minister Torrent explained that Catalonia Trade & Investment is currently working with a portfolio of over 600 foreign investment projects, the highest figure on record

The President of the Catalan Government, Pere Aragonès, announced that there are 9,155 foreign companies operating in Catalonia (2022 figures), 2.8% more than prior to the pandemic (2019, the last time this indicator was updated). This is one of the main conclusions of the study “Directory of Foreign Subsidiaries in Catalonia, 2022” by Catalonia Trade & Investment, which reveals that the highest figure ever of multinationals established in Catalonia on record has been reached.

The head of the government made these declarations on Thursday afternoon during the event 'Catalonia, opportunities for the future' which took place at the Palau de la Generalitat and which was attended by 150 executives from foreign companies established in the country - such as Microsoft or American Axle & Manufacturing (AAM), who outlined why they had decided to invest in Catalonia.

The meeting served to share future business projects and highlight Catalonia’s assets as one of the most dynamic territories in southern Europe for foreign investment attraction, as well as the importance of these multinational investments here.

The event, which was also attended by the Minister for Business and Labour, Roger Torrent, and the Secretary for Business and Competitiveness and CEO of ACCIÓ-Catalonia Trade & Investment, Albert Castellanos, highlighted the track-record of the public agency, ACCIÓ-Catalonia Trade & Investment, which launched its one-stop shop services in 1985 to facilitate international investment in Catalonia.

In this regard, Torrent announced that Catalonia Trade & Investment is currently working with a portfolio of 613 foreign investment projects, the highest figure on record. This represents 56% more projects compared to 2020, a clear demonstration of the growing interest in foreign companies towards Catalonia.

Half of the projects being worked on are of an industrial nature, this being the main priority of the Ministry of Business and Labour, while 40% are greenfield – that is, from companies not yet present in Catalonia.

Catalonia, southern Europe’s hub for foreign companies

The “Directory of Foreign Subsidiaries in Catalonia, 2022” drawn up by Catalonia Trade & Investment emphasizes the contribution of foreign multinationals in creating quality employment and social cohesion, as the 9,155 companies located in Catalonia represent 18.5% of the country's workforce.
    
It is a dynamic ecosystem of subsidiaries (23% were created less than 5 years ago) while at the same time consolidated, given that, overall, it shows continuous growth from year to year. Specifically, the number of foreign companies established in the country has grown by 60% compared to 2014, the first year these figures were studied.

These incoming companies come from 90 different countries, most notably France (13.6%), Germany (12.2%), the United States (13.0%) and the United Kingdom (10.5%).

In terms of the number of companies, the most important sectors are ICT and industry digitalization, as well as machinery and equipment, which accounts for 17% of all foreign companies subsidiaries. A key fact that contributes to the objective of reindustrialization and digital transformation being promoted by the Government.

A new window connecting Catalonia to the world

Within the framework of the event 'Catalonia, opportunities for the future', the Secretary for Business and Competitiveness of the Ministry of Business and Labour and CEO of ACCIÓ, Albert Castellanos, highlighted ACCIÓ’s promotion of digital channels to strengthen support for foreign companies with expansion projects in Catalonia.

With this in mind, he announced the new version of the www.catalonia.com website, the country's international positioning and promotion portal, launched in 1996, and now updated from a technological and strategic point of view with new and specific content.

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