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By: AUXADI - Author: Víctor Salamanca
- CEO of Auxadi
- Author: Rima Yousfan
- COO of Auxadi
The “Spanish Investment in Ibero-America 2024” report reaches its XVI edition and does so hand in hand with IE University, Auxadi, Casa América, and Iberia. This year’s study reveals a positive outlook for Spanish companies operating in the region. In fact, despite global economic uncertainties, Spanish companies trust in the future of Latin America and plan to increase their investments in LATAM during 2024.
Ibero-America: why it is so interesting to invest in the region
- Attractive internal market: The region offers a large and growing internal market, with a population exceeding 600 million inhabitants.
- Qualified professionals: LATAM has a young and qualified workforce, prepared to meet the needs of Spanish companies.
- Access to raw materials: The region has abundant natural resources, making it a strategic supplier of raw materials for Spanish companies.
LATAM-investment
The Strategic Importance of Miami in Ibero-American Expansion
It is worth highlighting the role of Miami as a key city for Spanish companies looking to expand in Ibero-America. The city offers a favorable business environment, with solid infrastructure, an international talent network, and a strategic location that facilitates access to Latin American and Caribbean markets. However, according to the study, other cities are pushing hard to be a pole of attraction for the establishment of corporate centers in the region. Perhaps the strength of the dollar against the euro is behind possible trend changes.
LATAM tax system
Key points of the report
- 76% of the Spanish companies surveyed intend to increase their investments in Ibero-America in 2024. This figure is similar to last year’s, indicating a strong commitment to LATAM.
- The main destination countries for Spanish investments are Mexico, Colombia, Chile, Peru, and Brazil.
- Mexico City remains the most attractive city for Spanish companies to locate their central operations in Ibero-America. Bogotá surpasses Miami for the first time in the second position.
- Spanish companies do not perceive Chinese companies as significant competitors in LATAM.
- More than half of the Spanish companies have exported some innovation or development from their Ibero-American subsidiaries to their Spanish parent company.
- 80% of large Spanish companies believe that their turnover in Latin America will exceed that of Spain in the next three years.
Spanish companies have a great opportunity to expand and grow in Ibero-America. At Auxadi we become the international extension of our clients’ accounting department. Already 45 years and 1300 clients make us trusted partners providing service in more than 50 countries with our flexible solutions for accounting, tax compliance, and payroll management. For more information on how we can help you in LATAM and the rest of the world, contact us here.
- Founded in Spain in 1979, and with a wide presence in LATAM & Europe, we become an extension of the Finance Department of our clients helping them in their expansion abroad. Our team of +340 employees, our MultiCountry IT Platform and our methodology, allow us to provide a first-class One Stop Shop in Accounting, Tax & Payroll. We offer a Multi-Country solution in +50 jurisdictions through our HUBs in Spain and the US and our 22 international subsidiaries, becoming the gate between Europe & LATAM and the rest of the world.
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www.auxadi.com/
