ICT and Automotive Sectors, Top Investment Industries in Spain
- Written by: Editor
- Posted: 2018-03-19
The ICT and automotive are highly developed fields of activity in Spain and also important contributors to the Spanish gross domestic product (GDP). The automotive sector in Spain accounts for 10% of the GDP, while the ICT represented at the level of 2016, 4.2% of the total GDP. Those who want to set up a company in Spain in one of these business sector should know that the country represents an attractive market for both industries. For instance, Spain is the second largest automotive manufacturer at a European level and the 8th at a global level. Our team of lawyers in Spain can offer advice on the regulations addressing to the ICT and automotive sectors.
Automotive sector in Spain
The Spanish automotive sector has been increasing in the last four years. Between 2012- 2016, the automotive production increased by 45% and those who want to set up a business in this sector should know that at the level of 2016, the local companies manufactured more than 2.8 million cars, which represented an increase of 5.9% compared to the previous year.
Our of the total car production of 2016, approximately 85% of the cars were exported to more than 100 countries. In 2016, the exports of vehicles (accounting for more than 2.4 million cars) increased by 7% compared to 2015. Our team of Spanish lawyers can assist foreign businessmen with in-depth advice on the import-export regulations available for the automotive sector.
The automotive sector in Spain is strongly represented by the spare parts sector, which is comprised by more than 1,000 companies. Such businesses are specialized in providing both services and supply of car parts to manufacturing plants operating here.
ICT sector in Spain
At the level of 2016, the ICT sector accounted for EUR 105 billion. The ICT industry in Spain is comprised of more than 33,000 companies, which hire a large number of employees. In this sense, the ICT sector created approximately 471,000 direct jobs.
Spain benefits from a very skilled workforce, specialized in a wide range of business sectors, including in the ICT sector.
Businessmen are invited to contact our law firm in Spain for in-depth assistance regarding the registration of a business in one of the above-mentioned sectors.