HONORARY CONSULATE OF ETHIOPIA IN MADRID

Economy

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Spain's attractiveness for foreign investment lies not only in its domestic market but also the ability to operate with other markets from our country. This is so because Spain is also a privileged geo-strategic position: it belongs to the European Union and is the gateway to North Africa and Latin America, thanks to our strong economic, historic and cultural, with the latter one. Furthermore, Spain is a modern knowledge-based economy, where services account for 68.94% of economic activity (INE data until the third quarter of 2011). It is a center of innovation supported by the existence of a young, highly qualified workforce at competitive costs. The Spanish market is one of the largest in Europe, with 47 million consumers, which must be added more than 52 million tourists who visit Spain each year. As a member of the EU, Spain has direct access to European Union countries. Spain has with Latin America various double tax treaties and investment protection agreements. In addition, Spanish companies maintain a leadership role in Latin American economies. Both factors are the key to turn Spain into a trampoline for doing business in Latin America and Latin American companies to address the European markets. Spain has become a strategic place for decision-making. Many European and Asian companies (Alston, British Telecom, Toshiba, Huawei, etc.) and Latin American (Cemex, Pemex, Itaú ...) have established their headquarters in Spain. Spain's geographical proximity to markets in North Africa and Middle East area completes its extraordinary influence. The Spanish language is of key importance for business: it is the official language of 22 countries, with over 500 million Spanish speakers. Spain also offers a special tax regime for foreign business groups, which is among the best in Europe.

Consulado Honorario de Etiopía en Madrid. All rights reserved.