Catalonia Trade & Investment attracts record-high €620m in foreign investment in 2022

Catalonia Trade & Investment, a Catalan government agency also known as ACCIÓ, attracted €620m in foreign investment last year, 1.2% more than in 2021 and the highest amount on record.

Business minister Roger Torrent held a press conference in Barcelona on Monday in which he explained that this funding was behind 94 projects, a 15% year-on-year increase, and had created 3,464 jobs, 11% more than in 2021.

"This is excellent considering the difficulties globally," Torrent said. 

CEO of Catalonia Trade & Investment Albert Castellanos, who was also at the press conference, praised the balance sheet: "Catalonia achieves the best results in attracting foreign investment; these figures consolidate us as a top region in talent attraction and open to the world, ready to receive projects on a European and also global scale."

65% more investment in 5 years

Foreign investment in Catalonia captured by the agency was up 65% from 2018 to 2022 compared to the previous 5-year period, authorities highlighted. There was €2.398bn in funding over the past five years, while from 2013 to 2017 there was €1.452bn.

In terms of projects, over the last 5-year period there were 421, 39% more, which created 20,076 jobs, a 59% increase. "This growth is more than remarkable," Torrent said. 

Mainly industrial investment

Industry received 85% of all foreign investment captured by Catalonia Trade & Investment last year, the equivalent of €527m. The Catalan government, Torrent said, favors this type of funding as one of its aims is to re-industrialize Catalonia. 

By sectors, 22% went to the information and communications technology field, 14% to chemistry, 10% to food, 8% to the pharmaceutical industry, and 7% to the automotive and mobility sector.  

Funding from 28 countries

Catalonia Trade & Investment attracted investment from 28 countries, the highest figure on record. 

Countries that stand out for their investment include Germany (16% of all projects), the United States (11%), France (10%), Argentina (10%), Switzerland (6%), and the United Kingdom (6%). 

According to Castellanos, investment from Asian countries has been growing, and he said South Korean battery component manufacturer ILJIN's decision to open a factory in Mont-roig del Camp, a small town near Catalonia, would be "the prelude to many important investments" from the continent.