When it comes to investing abroad, some people may be hesitant and think it is a risky move, but for others, it can be a great opportunity for growth. This largely depends on the source of the investor and where the person who wants to invest will ultimately invest his or her funds.
According to multiple indicators, Spain has become one of the best investment destinations in recent years and one of the most respected countries for international investment.
Spain is an excellent opportunity for many foreign investors because it has many very important sectors, such as real estate. Moreover, this is mainly due to the fact that the country’s economy is finally recovering, and is expected to continue to prosper in the coming years and remain among the top 15 economies in the world.
What to invest in Spain?
In economic terms, Spain can be considered a diversified country, especially in terms of services, while industries such as mobile telephony are still important on a global scale. This makes it difficult to decide in which sector to invest in Spain from the outset.
However, Spain has three (3) booming industries for investment, which should be low risk and generate good returns on investment. These departments are:
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Real estate and investment property
Before 2008, before the economic crisis hit Spain, the real estate industry was in one of its best moments in history. At that time, investors did not stop investing due to the growth rate of real estate prices. But in 2008, with the advent of the crisis, investors started to panic.
However, a few years later, the Spanish economy is back to normal. Prices are recovering and investors are once again seeing opportunities in the Spanish market. In addition, some of the country’s large cities have high population densities, which increases the demand for people to find housing and leads to an increase in rents, making them a good opportunity to generate passive income.
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Tourism
Spain is considered one of the best cities in Europe, and that is due to its hot climate with many sunny days and cooler temperatures near the mountains. That is to say, the Spanish climate is a Mediterranean climate where you can find warmer areas and colder areas. In general, Spain has a rich culture and tradition, with influential figures in the arts, great food and beautiful people.
This makes some cities in Spain reach high numbers of tourists every year, with Barcelona being one of the most popular cities for tourists, but not leaving aside other places such as the capital, Madrid, and the iconic island of Ibiza.
Therefore, investing in tourism in Spain, as long as it is done carefully, can be an action that can yield excellent results. Even combining real estate investment with tourism can result in a good income by renting a good house near tourist resorts.
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Services and tech
Entrepreneurship and culture have not disappeared in Spain, but they have always stayed there. Cities like Madrid and Barcelona are important entrepreneurial centers in Europe and in the world, and their advantages include much lower real estate prices, a good quality of life and a high quality workforce.
The fact that the unemployment rate in Spain is still high not only has a negative impact on its youth, but also makes them look to the future, learn English as a second language and develop their creativity, flourishing in the service industry, the most important economic sector in Spain.
If you consider in which cities to invest in Spain, the capital Madrid is of course an important center, but Barcelona is also a very important city in the world; the quality of life in cities like Bilbao, Mallorca and Malaga is also very good. Opportunities continue to appear.