UK investment in Catalonia reaches over €200 million during the first half of 2025

The British Chamber of Commerce in Spain presented the tenth edition of its Barometer on the Climate and Outlook of UK Investment in Spain at the Barcelona headquarters of ACCIÓ–Catalonia Trade & Investment. 

Developed with Analistas Financieros Internacionales (AFI), the study confirms the UK’s strong commitment to Spain, and Catalonia’s growing relevance as a strategic destination for British companies. According to the study, investment from companies of the United Kingdom in Catalonia reached over €200 million during the first half of 2025.

During that period, British investment in Spain totaled €1.077 billion, placing the United Kingdom among Europe’s top investors and second only to the United States. Despite a global slowdown in FDI and rising uncertainty, UK flows into Spain remain resilient and concentrated in strategic sectors such as information services and telecommunications.

“Barcelona–Catalonia has a fantastic health and life sciences ecosystem, and AstraZeneca will continue investing and collaborating in the region, especially in research, development, and innovation”

Javier Pascual, AstraZeneca’s Government Affairs Manager

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Catalonia, the second destination for UK investment in Spain

Regionally, Madrid led the investment in H1 2025, followed by Catalonia, solidifying its position as Spain’s second destination for British investment. Andalusia, the Valencian Community, and La Rioja also recorded notable inflows.

Catalonia maintains a strong historical relationship with British investors. The region is home to 954 British subsidiaries, representing nearly one in ten foreign subsidiaries in Catalonia and supporting over 46,000 jobs. 

Between 2020 and 2024, the United Kingdom was Catalonia’s third-largest investor by volume (€3.39 billion, 15% of total) and fourth by number of projects (104). Key sectors attracting UK investment include pharmaceuticals (26.7%), food & beverages (18.5%), and chemicals (9.9%).

At the presentation, Joan Romero, Executive Director of ACCIÓ-Catalonia Trade & Investment, highlighted "the stable commercial relationship between both countries, since one out of every ten foreign subsidiaries in Catalonia is from the United Kingdom, now nearly one thousand." He also underscored "the assets that Catalonia offers British investors, such as a strategic geolocation, a highly internationalized industrial economy, and access to differential and disruptive technology." Romero noted the strong consolidation of projects from AstraZeneca, Smith & Nephew, Bunzl, Croda, and Revolut, all supported by ACCIÓ-Catalonia Trade & Investment.

Round table: "The Value of Catalonia for British Investment"

The event featured a roundtable moderated by Jordi Ortiz, Director of Foreign Direct Investment at ACCIÓ-Catalonia Trade & Investment, with senior representatives from AstraZeneca, Bunzl, and Smith & Nephew.

During the discussion, the speakers emphasized Catalonia’s strengths as an investment destination. AstraZeneca’s Government Affairs Manager, Javier Pascual, highlighted that "Barcelona–Catalonia has a fantastic health and life sciences ecosystem, and AstraZeneca will continue investing and collaborating in the region, especially in research, development, and innovation."

Bunzl’s General Manager, Daniel Tovar, noted that the company "will keep investing in Catalonia and Spain because it is a dynamic economy, and our subsidiary here is the fastest-growing in Europe." Meanwhile, Antonio Gaznares of Smith & Nephew emphasized that "in Catalonia we find an excellent balance between professionalism, rigor, and the ability to think outside the box."

Positive outlook for 2026

British companies operating in Spain maintain a positive outlook for the coming years. According to the Barometer, 64% of firms expect to increase their investment in Spain in 2026, with 72% planning to expand existing business lines through reinvestment. At the same time, companies point to factors such as political and fiscal uncertainty, regulatory fragmentation, and limited predictability as elements that require close monitoring and may influence future investment decisions.