British investment in Catalonia unaffected by political situation until June

British investment in Catalonia has not been affected up until the second quarter of the year, according to data released on Thursday by the Barometer on climate and outlook for British investment in Spain.

Although “in the case of Catalonia there is some divergence between the total flows of foreign direct investment (increasing since 2011) and the British (slightly decreasing,)” the report states, “this divergence is not unique to the Catalan case and cannot be attributed directly to the political situation in the region.” Madrid also followed a similar trend.

The data was presented by the British Chamber of Commerce in Spain, at the headquarters of the Cercle d'Economia in Barcelona.

The barometer did not rule out the possibility that the ongoing dispute between Spain and Catalonia may have an effect in the future, although it “could take time to materialize.”

Between June 2016 and June 2017, the United Kingdom invested a total of 182.5 million euros in Catalonia, around 32.3 million euros less than the previous four quarters.

Out of all European countries, the UK is biggest investor in Spain as a whole. Catalonia was previously ranked third as a destination for British investment, but has fallen to fourth place.

It was noted that “in the first quarter of 2017, the investment of the United Kingdom in Catalonia has decreased, but it has not done so from other countries,” by José Manuel Amor, member of consultancy agency AFI. However, “it is too early to say” whether this decrease in British investment could be due to the current political uncertainty, Amor said.