Catalonia Trade & Investment attracted 620 million euros in 2022, the highest figure on record

The Minister for Business and Labour, Roger Torrent, announced at a press conference on Monday that the Government of Catalonia, through ACCIO-Catalonia Trade & Investment, attracted 620 million euros of foreign investment in 2022.

This is 1.2% over the previous year and the highest figure on record, registering back to 1985. The event was also attended by the Secretary for Business and Competitiveness and CEO of ACCIÓ-Catalonia Trade & Investment, Albert Castellanos.

The head of Business and Labour stated: "Catalonia achieves the best results in attracting foreign investment; these figures consolidate us as a top region in talent attraction and open to the world, ready to receive projects on a European and also global scale".

This is the balance sheet of the Catalonia Trade & Investment unit, the area of ACCIÓ responsible for attracting and managing foreign investments for the Catalan Government. In total, during 2022, 94 investment projects of foreign companies were executed, 15% more than the previous year and going over the figure of 90 projects for the first time. These investments created 3,464 jobs, 11% more than in 2021.

If we look at this balance over a broader timescale to avoid the volatile effect of foreign investments, the volume attracted by ACCIÓ-Catalonia Trade & Investment over the last five years (2018-2022) has been over 2,400 million euros, 65% more than the previous five-year period (2013-2017). Over the last five years, 20,000 jobs have been created due to investments of multinationals in Catalonia.

More industrial and diversified investment

In 2022, 85% of foreign investment captured by the Catalan Government (527 million euros) has been of an industrial nature, one of the government's main priorities given that industrial economies are more innovative, more internationalized, more productive and generate more stable and higher quality employment.

By sectors, what stands out the most are those corporate investment projects in the ICT field (22% of the total), chemistry (14%), food (10%), the pharmaceutical industry (8%) and automotive - mobility (7%).

In total, investment from 28 different countries has been attracted, the highest figure on record, which shows Catalonia's ability to diversify the sources of new projects. Heading the list comes Germany (with 16% of all projects), followed by the United States (11%), France (10%), Argentina (10%), Switzerland (6%) and the United Kingdom (6%).

Additionally, out of the 94 foreign investment projects happening in Catalonia in 2022 via ACCIÓ, 44% are greenfield, that is, from companies without a previous presence in Catalonia. The remaining 56% are companies already established here and that have expanded or made new investments. This combination demonstrates the potential to continue attracting new investors while also showing the confidence held by those multinationals already present in Catalonia.

Public support

ACCIÓ, through its Catalonia Trade & Investment unit, provides comprehensive advice to foreign companies, to help new multinationals invest in Catalonia while also helping those already present carry out expansions and reinvestments.

The work ranges from the promotion of Catalonia abroad, to the joint preparation of applications for companies to carry out investments in Catalonia, giving a full advisory service throughout the investment process and monitoring once it has materialized.

In 2022, for every public euro of budget allocated to this area, 222 euros of private investment was attracted by international companies. In total, 37% of the projects that came to place in Catalonia were captured through ACCIÓ’s network of 40 Foreign Trade and Investment Offices around the world.

As regard the future, ACCIÓ is currently working with a portfolio of almost 600 investment projects. In fact, 75% of the companies that have invested in Catalonia in 2022 with the advice of ACCIÓ say that they plan to invest again in the future.