Spain has always been a key market for Italy, for Italian export and greenfield investments. The two countries have historic economic ties that stand at the highest level. Italy and Spain mutually export numerous products both mechanical and technological and belonging to the world of consumer goods such as food and fashion.
Then, when we think of Spain, we should not only consider the Iberian Peninsula, but we should remember that it has a strategic geographical position: it is an important hub for business with North Africa, it is the European gateway for business with Latin America, and its relations extend throughout the Middle East. Thus, the country represents a bridge to other markets, and because of this its weight should be considered.
Spain’s strengths for the internationalization of Italian companies
Spain’s strengths include the growing number of multinational companies, the growth of the tourism industry, its efficient infrastructure and the recent development of projects on renewable energy, telecommunications and digital innovation.
Finally, it should be mentioned that Spain is the 2nd largest country in terms of the amount of funding requested from the EU under the Recovery Fund framework: €69.5 billion in non-repayable grants to boost green transition and digital transformation. This is indicative of new projects, growth and infrastructure development that may represent upcoming business opportunities for Italian operators as well.
The Spanish market is an accessible one, with no particular barriers to entry, but competition, not only from Italy and Europe, is extensive. To enter this country, therefore, it is necessary to find one’s own voice and value proposition that differentiates. It is important to know the competition well, to study the sectoral dynamics, to be present locally by participating in relevant fairs and events, but above all to identify the elements that make the Italian proposal suitable for this market.
At Roncucci&Partners we help companies develop themselves and their business, embrace change and evolve to thrive in a world that is increasingly complicated, treacherous, and requires a great deal of expertise. We do this by applying timely methods and rigorous strategies, the result of many years of experience and the wealth that comes from the many success stories we have guided around the world. Passion and method are indeed our guides to enhance the present and build the future.