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The Global LATAM 2025 report reveals a 103% growth in investment from Latin America since 2010, with an increasing impact on innovation, employment, and sector diversification.
Investment from Latin American companies in Spain has reached €66.845 billion, representing a 103% increase since 2010, solidifying the country as the second largest destination for Latin American capital worldwide. This is confirmed by the seventh edition of the Global LATAM 2025 report, produced by ICEX-Invest in Spain and the Ibero-American General Secretariat (SEGIB).
Presented by Elisa Carbonell, CEO of ICEX, and Andrés Allamand, Ibero-American Secretary General, the report accurately captures the foreign investment dynamics from Latin America and highlights the strategic role of Spain as a platform for internationalization for companies across the Atlantic.
A Growing Structural Phenomenon
Since 2010, the flow of Latin American capital to Spain has remained on the rise, even in years marked by geopolitical uncertainty and global economic disruptions. In 2024, direct investment from Latin America was €2.178 billion, slightly lower than in 2023, but consistent with the average recorded over the last decade.
The report indicates that this phenomenon is structural and responds to a combination of factors such as Spain’s institutional stability, the appeal of a consolidated European market, a shared language, and the existence of predictable regulatory frameworks.
With a population of 48 million, Spain is the fourth largest market in Europe and provides preferential access to the European Union, regarded as the largest middle-upper income market in the world.
Mexico Leads Latin American Investment in Spain
Mexico is, by far, the largest Latin American investor in Spain, with a total investment of €33.902 billion, accounting for 50.2% of the regional total. It is followed by Argentina with €10.569 billion (15.8%), Brazil with €6.144 billion (9.2%), Colombia with €6.023 billion (9%) — the country with the fastest-growing investment — and Uruguay with €3.606 billion (5.4%).
In total, 20 Latin American countries maintain active investments in Spain through more than 600 companies that generate 44,000 direct jobs.
High-Value Added Sectors and Growing Technological Presence
During the period from 2020 to 2024, 360 greenfield investment projects from Latin America were registered, greatly surpassing those drawn from other European countries such as France (103), Germany (89), or Italy (34). Only the United States, with 1,017 projects, outpaces Latin America in this area.
The Software and ICT sector leads the investment activity with 82 projects, reflecting the rise of startups and tech firms viewing Spain as a gateway to the European digital ecosystem. This is followed by Financial Services (45 projects), Food and Beverages (34), and Textiles (25), showcasing the sectoral diversification and the added value of the operations.
In total, Latin American companies are present in 25 different sectors, demonstrating a structural commitment to the Spanish economy and integration into local value chains.
Spain as a Springboard to Europe
“Spain is consolidating as the bridge to the European Union for capital and Latin American companies that are increasingly internationalized,” pointed out Elisa Carbonell during the report’s presentation. In this vein, Andrés Allamand emphasized that Latin America is already the fourth largest investor in Spain, after the United States, the United Kingdom, and France.
The favorable environment in Spain not only attracts direct investments but also facilitates the relocation of operation centers, innovation, and shared services of multilatino groups that see the country as a strategic base for their European operations.
GLOBAL LATAM Index of Multilatinas (IGLM)
One of the main innovations in this edition of the report is the launch of the GLOBAL LATAM Index of Multilatinas (IGLM), which analyzes the level of internationalization of Latin American companies based on variables such as income and foreign employment, solvency, and geographic coverage.
Among the most notable companies are Tenaris (Argentina, metals), Orbia (Mexico, chemicals), Mercado Libre (Argentina, technology), Gruma and Bimbo (Mexico, food), and Vale (Brazil, mining).
Although Brazil leads in the number of companies present in the index, Mexico has the highest average score, thanks to successful financial and operational nearshoring strategies.
A Dynamic and Transformative Business Ecosystem
According to the report, foreign direct investment from Latin America in 2024 was $53.035 billion, a 49% increase over 2023, representing the third largest annual record in history for the region.
The countries that account for most of this foreign investment are Brazil, Mexico, Chile, and Colombia, together representing over 85% of the regional total.
Moreover, investment in new (greenfield) projects remained stable, with 355 projects undertaken by 251 companies, creating 48,546 jobs, a number higher than last year’s 44,556.
Outlook: Innovation, Sustainability, and Young Talent
Global LATAM 2025 anticipates a sustained expansion of Latin American investment in Spain, particularly in new sectors such as digitalization, renewable energy, technological innovation, and outsourcing of business processes.
The report emphasizes a new generation of young Latin American entrepreneurs, many of whom are trained in Spanish business schools, who are driving innovative projects with a global outlook.
In this context, Spain is seen not only as an attractive destination for investment but also as a supportive environment for talent retention, the creation of skilled jobs, and the formation of lasting business alliances.
Conclusion
The growth of Latin American investment in Spain is far more than a transient trend. It represents a structural process of economic and business integration that strengthens the historical, cultural, and economic ties between both regions.
With its strategic position, stable regulatory environment, and privileged access to the European market, Spain is poised to play a key role as a platform for internationalization for Latin American companies in an increasingly interconnected and competitive world.
The full report can be downloaded from the SEGIB and ICEX-Invest in Spain website.
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