Andalucía has attracted more than five billion in foreign investment in the last six years

The US tariffs that Donald Trump launched last year and confirmed once he became president in 2025 do not seem to have acted as a break on investment in Andalucía. The North American giant was at the top of the list of investors last year, with investments amounting to 193 million euros, mostly in construction and finance-related activites. This is the best record in Andalucía since 2019.

Following the US is the UK, with a total of 128 million euros, mainly in sports management, retail trade of food products and other professional activities. Then come France, with 87 million euros, mainly in the manufacture of metal products; Denmark, with 85 million euros almost entirely dedicated to the supply of energy and Germany, with 82 million euros, concentrated mainly in accommodation services.

Andalucía attracted 837 million euros in foreign direct investment in 2024. This amount represents an increase of 20% in the annual average of the last decade (2015-2024), of 696 million euros. It is also the second best record of the last decade, after the exceptional figure of 2022. It also represents a growth of 41% compared to 2023 (595 million) and compared to the average growth of 19% in Spain as a whole.

In terms of the type of investment, acquisitions were once again the main type. They reached 431 million (51.5% of the total), ahead of other expansions (29.1%) and new investments (19.4%). If we take into account the type of investor, 48% of the investment received in the region in 2024 corresponds to investments by companies, ahead of investments made by private collective investment institutions (29.3%), by individuals (21.8%) and by public or sovereign investment funds (0.9%).

By the end of 2024, there were 3,171 foreign companies (with 100% foreign capital or with a direct foreign shareholder with 10% or more of the capital) based in Andalucía. Last year closed a record six-year period, with investments from abroad worth 5.02 billion euros, almost double that recorded in the six-year period 2013-2018 (2.6 billion euros) and 54% higher than the best six-year period so far (2007-2012, with 3.2 billion euros).

According to the SABI (D&B) database with information on foreign capital companies in all economic sectors, more than half of the foreign companies, which come from 80 countries, are located in Malaga (55.8%), although all provinces have a presence of foreign capital companies: Seville 19.5%, Cadiz 9.5%, Granada 4.8%, Almeria 4.1%, Cordoba 2.9%, Huelva 2.4% and Jaen 1%.

Of the 80 countries of origin, the top 10 account for 67% of the subsidiaries. Sweden (11.6%, with a significant volume in the real estate sector, but reduced weight in turnover and employment), the UK (11.4%), the Netherlands (8.1%), Germany (7.0%), Switzerland (6.7%, with a third of the subsidiaries in the renewable sector) and the US (5.4%) stand out.

In addition to these 3,171 companies, with a combined turnover of 36,259 million euros and 88,472 jobs, there are another 1,282 companies controlled by foreign capital, with headquarters in other regions but offices in Andalucía.

By sector, building construction absorbs 20% of gross production flows in Andalucía, followed by energy supply (12%), wholesale trade and intermediaries (9.3%), sports and recreational activities (7.3%) and manufacture of metal products (7.2%).

Next Monday, the Andalusian regional government will present the Andalusian strategy for attracting foreign investment during an event organised by the regional ministry of economy, finance and European funds in Madrid. The event, which will be held at the Reina Sofía Museum, will present the virtues and niches of opportunity offered by the region as an investment destination.