Madrid Investment Attraction (MIA), the foreign investment attraction office affiliated to Madrid’s City Department of Economics, has just celebrated the first anniversary of its Miami office. To mark this event, several executives from MIA visited the city to meet with entrepreneurs and local experts interested in investing in Madrid. Over the course of this past year, the office has served more than 50 companies, start-ups, and professionals interested in setting up in the capital.
The latest figures reported by the Register of Foreign Investments (RIE) for the first three quarters of 2022 show 14.534 billion in investment in Madrid (5.656 billion in the first quarter, 5.606 in the second, and 3.272 in the third), 64.7% of the total in Spain. Madrid is continuing to attract more companies and investment than anywhere else in Spain, making it one of the main European and global destinations for productive investment.
US investment in Madrid
According to data provided by the Foreign Investment Register (as of December 2022), the US is the world’s biggest investor in Spain, reaching 95.291 billion dollars by the end of 2020. American companies maintain 228,802 jobs in Spain, 31% of which are in the wider Region of Madrid. In addition, the accumulated investment flows since 1993, 77.145 billion, place the US as the second largest investor in Spain. 61% of the total inbound investment, 47.060 million, has been channelled into the Region of Madrid.
Of this investment, 63% of US investment in Madrid is concentrated in the Services sector, followed by 39.8% in Industry and 12% in Construction. The Florida companies that have invested in the region in recent years include National Air Cargo, Vultr, Tracxpoint, and Hard Rock International among others.
Madrid is the gateway for American companies to the European market, and the City Council is committed to promoting technology sectors that offer major growth potential, such as Big-Data and Artificial Intelligence, e-Health, Video Games, Cybersecurity, and Fintech, among others. The latest figures available, corresponding to the period January-September 2022, show that the United States invested more in Spain than any other country in the world, with 4.935 billion dollars, followed by the United Kingdom, and Australia.
In the words of Miguel Ángel Redondo, Madrid’s City Councillor for the Economy: “Madrid is experiencing a period of openness to the world, to companies and especially to talent, and we are determined to promote the consolidation of this trend. The United States have emerged as the second largest investor in Spain since 1993. In that period, it has invested 77.145 billion euros, 16.6% of the total, with Madrid receiving the highest level of investment, 61%”.
Madrid Investment Attraction, the foreign investor service office run by Madrid City Council, works to facilitate the landing and subsequent growth of companies that choose the Spanish capital as their destination, and helps them to integrate into the local ecosystem with a view to maximising their contribution to the economy and society.