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Juan Carlos Martínez Lázaro

Latin America-wide   

Spanish Investment in Latin America Outlook: 76% of Spanish companies plan to increase their investments by 2024  

IE University, Auxadi and Iberia present their 16th Report on Spanish Investment in Ibero-America

April 11, 2024

The annual report on Spanish Investment in Latin America, signed by the Instituto de Empresa (IE University), Auxadi and Iberia, has been presented at the Casa de América in Madrid.

According to the report, 76% of Spanish companies plan to increase their investments in Latin America by 2024. This key figure confirms that the Ibero-American market continues to be attractive for Spanish investment.

Directed by Juan Carlos Martínez Lázaro, director of the report and economist at IE University, this 16th edition of the report has been prepared in collaboration with Casa de América.

The report also reveals that 82% of Spanish companies expect their revenues to grow in the region in the next three years. Furthermore, 58% of the large companies and 38% of the small and medium-sized enterprises (SMEs) surveyed believe that their commercial presence in Latin America will exceed that of Spain in the same period.

Juan Carlos Martínez Lázaro points out that most Spanish companies will increase their investments in the region this year, indicating their confidence in Ibero-America’s economic future: "76% of the Spanish companies that took part in the research plan to increase their investments in the region by 2024. For small and medium-sized enterprises (SMEs), this percentage is even higher, reaching 80%. The majority of these investments will be made through internal growth (60%), while 38% will opt for a combination of internal growth and acquisitions of other companies".

The presentation of the report at Casa de América was attended by León de la Torre Krais, Director of Casa de América; Andrés Meoli, Director of Corporate Business Development at IE University; Alfonso Benavides, Director of Auxadi; and Víctor Moneo, Director of Alliances and Institutional Agreements at Iberia.

According to the authors of the report, the perception of Spanish businessmen about the economic situation that Ibero-American economies will face follows the same trend as in 2023. Mexico, Chile, Colombia, the Dominican Republic and Uruguay receive the best ratings. Mexico is once again the most prominent country as an investment destination for companies, followed by Colombia, Chile, Peru and Brazil.

Víctor Moneo, Iberia’s Director of Strategic Alliances and Agreements, points out that the airline is approaching 80 years since its first flight to Latin America, a region that has been fundamental and currently represents a significant part of its revenues. However, they have an ambitious plan in place to increase their capacity between Europe and Latin America, investing heavily to operate many of these routes with their larger, more advanced aircraft.

On the other hand, Alfonso Benavides, member of Auxadi’s Board of Directors, highlights the company’s commitment to Latin America, considering it a privileged destination for Spanish, American and European investors. With the local talent of its offices in the region and subsidiaries in 15 key countries, the use of cutting-edge technology, process certifications such as ISAE 3402 and ISO 27001, and the coordination of accounting, tax and payroll services from Madrid and Miami, Auxadi makes life easier for its clients.

Companies highlight the impact of inflation on sales, as well as political risk and insecurity, as key challenges in the region. In terms of tax attractiveness, Brazil and Argentina present the most difficult tax environments for investors, while countries such as Panama, Paraguay, Uruguay and the Dominican Republic stand out as offering more favourable tax environments.

You can access the full report by following this link and watch a video about the presentation at casamerica.es

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