© Reuters. R.Unido remains a key destination for Spanish investment despite Brexit
London, Nov 10 (.) .- The United Kingdom maintains its position as a strategic market for Spanish investment abroad, despite Brexit and the pandemic, according to the so-called Barometer on Climate and the Outlook for Spanish Investment released this Wednesday.
This barometer, prepared by the Spanish Chamber of Commerce in the United Kingdom, analyzes Spanish investment in this country, as well as the opinions and investment interest of Spanish companies in British territory during 2019-2020.
According to the analysis, 54% of Spanish companies investing in the United Kingdom rate the business climate after Brexit as “acceptable” or “good”, although their perception of the job market has deteriorated: a quarter of the companies surveyed stated that they could not find the talent they need.
Despite the pandemic and the consequences of Brexit, 91% of companies consider that the British market will be strategic.
Spanish Foreign Direct Investment (FDI) flows to the United Kingdom experienced a notable recovery in 2020, despite the health crisis, according to the barometer.
The results of the analysis indicate that the pandemic has largely determined the macroeconomic environment in both the UK and Spain over the past 18 months.
Following the economic momentum observed during the second quarter of 2021, growth is expected to consolidate as the risks and uncertainties associated with the pandemic dissipate.
However, there are risks related to problems in the supply chain and the increase in raw material prices, which could configure a slight slowdown in the second half of the year, which, however, is expected to close with a generally positive note, according to the barometer.
In addition, estimates suggest that Spanish FDI in the United Kingdom contributed to the generation of 161,000 jobs in 2019, which is equivalent to 0.49% of total employment at the national level.
This latest edition of the barometer will be presented this Wednesday at the Spanish Embassy in London and will be attended by the Secretary of State for Commerce, Xiana Méndez, as well as representatives of companies such as Cellnex (MC 🙂 or Gestamp (MC 🙂 .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
