Over 77,000 jobs created in Italy thanks to Spanish foreign direct investment
Presented today by the Chamber of Commerce of Spain in Italy and the Embassy of Spain in Italy, the data of the 'Barometer on the context and prospects of Spanish investments in Italy'.
3' min read
3' min read
In 2023, the stock of Spanish Foreign Direct Investment (Ide) in Italy increased by 8.5% to €16,906 million, leading to the creation of over 77,000 jobs, an annual increase of close to 8%. This places the Italian economy in twelfth place in the ranking of recipient countries of Spanish Ide, representing 2.7% of the total stock of Spanish investments abroad. This is what emerges from the 2nd edition of the 'Barometer on the context and prospects of Spanish investments in Italy', elaborated by Analistas financieros internacionales (Afi) and launched today by the Chamber of Commerce of Spain in Italy, the Chamber of Commerce of Spain and the Embassy of Spain in Italy.
Data
In 2023, Spanish Foreign Direct Investment (FDI) flows to Italy increased by about 60 per cent year-on-year, while in 2024 the pace of growth moderated, with a decrease of 15.4 per cent to EUR 461 million. Since 1993, Italy has accumulated a total of EUR 28,743 million in gross Spanish FDI inflows, accounting for 2.7 per cent of total Spanish investment abroad. According to Bank of Italy data, Spain ranks sixth among countries with the largest FDI flows to Italy, with $10,538 million between 2013 and 2023.
The sectors of success
.Historically, Spanish VIEs to Italy have been distributed across several sectors, including Telecommunications (14.3% of the total), Energy Supply (11.1%), Insurance, Reinsurance and Pension Funds (10.9%), and Wholesale (10%). In particular, the Telecommunication sector accounted for 31.4% of Spanish IDEs in Italy in 2023, with EUR 5,302 million, while the Computer and Electronic Products Manufacturing sector was of particular interest, with Italy confirmed as the main recipient, reaching 29% of the total stock in 2023. In 2024, FDI flows were mainly concentrated in the sectors of Energy Supply, which received EUR 165 million (35.8% of the total), and Paper Industry, with EUR 151 million (32.8%).
A strategic lever
.'Foreign direct investment is an essential strategic lever for our country's growth, competitiveness and global leadership, and the strong relationship between Italy and Spain testifies to the effectiveness of policies to support businesses. The Italian market, the beating heart of a dynamic and strategic economy, must be valorised as a fundamental hub for attracting investments that generate new employment opportunities and promote balanced and forward-looking development for both countries," said Adolfo Urso, Minister of Enterprise and Made in Italy.
"The Barometer that we are presenting today will allow us to highlight the good relations between the two countries and between the companies of both, to confirm the synergy between the Spanish and Italian business fabric," added Spain's Ambassador to Italy, Miguel Fernández-Palacios.
