investment

Last year, Catalonia was the leading Autonomous Community in Spain for foreign tourism spending, which generated €14.02 billion, 13.4 % more than in 2012, according to the Tourist Expenditure Survey (EGATUR) of the Spanish Ministry of Industry, Energy and Tourism. The average spending per stay in Catalonia amounted to €903 per foreign visitor, 4.9% more than in 2012, while the daily spending was set at €120 per person, 1.4 % more than the previous year. Catalonia accounted for 23.7 % of foreign tourism spending in Spain, which reached €59.08 billion. Besides, tourism spending grew more in Catalonia than in any other Autonomous Communities in Spain and is well above the Spanish 9.6 % average increase over the previous year.

In the coming weeks, the management of Volkswagen Group should decide where to produce its latest SUV model, designed in the SEAT Technical Centre in Martorell (Greater Barcelona) and featuring two versions, one for the Catalan brand and the other one for Skoda. The President of the SEAT Workers Committee in Martorell, Matias Carnero, argued that the Catalonia-based factory was the most competitive to produce the vehicle. These past weeks, some sources have asserted that Martorell’s main rival, the Skoda plant in the Czech Republic, would ultimately be chosen. Indeed, it is believed that the President of SEAT Jürgen Stackmann hinted at such a fact in several internal meetings. However, Matias Carnero insisted that the Martorell factory had never been completely ruled out.

Barcelona’s El Prat Airport has ended 2013 strongly to reach a new record of 35.2 million passengers, amounting to a 0.2% increase over the previous year in a context of economic crisis. According to figures released by the Spanish Airport Authority (AENA), in December 2013, 2.3 million passengers transited through El Prat, meaning 5.3% more than during the same month last year. On the other hand, Madrid’s Barajas Airport continues on a downward trend, with its yearly number of passengers dropping to 39.7 million, an 11% decrease. Girona Airport, the second largest in Catalonia, has registered negative figures for the fifth consecutive year. However, this latest decrease has been more moderate (-3.8 %) than during previous years and in 2013 it received 2.74 million passengers.

The Catalan Government put 4 buildings up for auction this Friday, following a plan to rationalise the spaces it uses, reduce spending and increase revenue in order to reduce public deficit. The headquarters of the Catalan Finance Ministry, located in a 8,000 square metre Art-Nouveau building in Barcelona’s Rambla Catalunya, has been bought by an Italian pharmaceutical company through FINAF 92 for €23.2 million. The other building, with a surface of 7,200 square metres, was used by the Catalan Police and is located in front of Barcelona’s Ciutadella Park. It has been bought by the German hotel company MO Düsseldorf Immermannstrasse GmbH & CO. KG for €14.1 million. On Thursday, the Catalan Government announced a plan to reduce its office space by 45% in the coming year by concentrating services. The plan includes selling the most attractive buildings.

Italian Investindustrial has sold 49.9 % of its stake in PortAventura amusement park to KKR, a US investment fund. With this operation Investindustrial has incorporated a long-term partner in the project, while making sure to be the majority shareholder with 50.1 %. The transaction will be effective in January 2014 and is only awaiting regulatory approvals. In the long-term strategy, PortAventura is looking for other agreements to broaden the range of leisure activities and develop further at international level. A few weeks ago it was made public that Investindustrial would join the BCN World project by building and managing 3,000 hotel rooms. Besides, it has been announced that the Cirque du Soleil would give daily shows in PortAventura from the summer of 2014.

Biocat, the organisation responsible for coordinating and promoting the life sciences sector in Catalonia, presented the 2013 Biocat report in Barcelona. Since its creation in 2006, by the Catalan Government and the Barcelona City Council, Biocat has sought to consolidate the life sciences sector by bringing together researchers, companies and other professionals in the field of biotechnology and biomedecine from Catalonia and other countries in the world. With 65 % of its biotechnology, pharmaceutical and medical products sold on the international market, the Catalan ‘Bioregion’(biocluster) is amongst the leaders in the sector. The cluster is currently made of 512 companies, meaning twice as many as in 2000, 56 research centers dedicated to life sciences or related disciplines, 17 university hospitals and 11 universities offering training in biosciences. It also relies on numerous other technology poles. This year’s report stressed the significant increase in private funding for the Catalan BioRegion over the last 4 years (€ 5.7 million to € 25.6 million) while highlighting the drop in public aid.

Catalan entrepreneurs and businesspeople are coming back home from India after making hundreds of contacts and discussing potential business opportunities that might help the Catalan economy to recover even faster. Motor, biofarma and IT enterprises have completed a very successful Asian tour and expect to open business on the continent within the next few months.

Samvardhana Motherson Peguform, which produces components and materials to build cars, has announced a €30 million investment in Catalonia, during the business trip of a delegation led by President of the Catalan Government Artur Mas. The Samvardhana Motherson Group, based in Noida, already owns 4 factories in Catalonia, from the former German company Peguform – which was purchased in 2011 by the Indian multinational. €25 million will be invested in rebuilding and enlarging its Polinyà plant, in Greater Barcelona, which produces car paint and was accidentally burned last September. The remaining €5 million will be allocated to upgrading its Ripollet plant, also based near the Catalan capital. In fact, Barcelona is one of the main hubs in Europe in the car industry, with several manufacturing companies building vehicles and components.

The telecommunications company Cronos Group, based in Hong Kong, is opening its European offices in Barcelona to offer services throughout the continent and worlwide. According to the Catalan Ministry of Business and Employment, the company is expected to create 25 new jobs in the first year operating from the Catalan capital. Currently 10 people are already working in Cronos’ Barcelona offices. The project received the assistance of the Catalan Government’s programme ‘Invest in Catalonia’, which focuses on attracting foreign investment and international business. Cronos’s Managers explained they have decided to settle in Barcelona because it had become the world capital of the mobile phone and of telecommunications, since each year it organises the main international event in this sector. Furthermore, Cronos Group praised the talent and skills of Catalan workers.

Catalan pharmaceutical company Grífols has purchased 21.3% of Belgian biotech company TiGenix for €12 million through the subscription of a capital increase. TiGenix is a leading company in the field of cell therapy. The agreement settled on the appointment of two Grífols Members on TiGenix’s Board and a preferential right to negotiate the development and commercialization of all TiGenix products, with the only exception of advanced-medicinal product ChondroCelect. Earlier this month, Grífols had already strengthened its therapeutic arsenal by buying part of the Diagnostics unit of Swiss multinational Novartis for $1,675 million.

The German chemical and pharmaceutical company has picked Barcelona to provide shared services to its subsidiaries in Greece, Turkey and Latin America, which account for 25% of the total group sales. Bayer’s Shared Service Centre in the Catalan capital will expand its tasks and responsibilities by taking over the accounting, controlling and IT services for these geographical areas. The expansion will take place over 2014 and the centre will pass from being in charge of 11 countries to 22, managing over 50 Bayer subsidiaries. The General Manager of Barcelona’s Centre, Erik Schonebeck, stated the project would “consolidate” the 300 existing jobs in the Catalan capital but no further new jobs would be created in the short-run. Barcelona hosts one of Bayer’s 5 global headquarters.

Barcelona City Council and the Catalan Government’s programme ‘Invest in Catalonia’ are among the winners of the 2013 Financial Times’ Foreign Direct Investment (fDi) Innovation Awards, which “recognise the world’s most creative investment promotion agencies”. Barcelona City Council has received an award in the town-planning category thanks to its pioneering role in the development of smart cities: the Catalan capital has prioritised smart-city applications and projects, trying to become one of the world leaders in this category. In addition, ‘Invest in Catalonia’, a programme of the Catalan Government’s agency for business competitiveness ACCIÓ, received the award in the business matchmaking category.

The acquisition of a parcel of land adjacent to Barça’s facilities in Sant Joan Despí (Greater Barcelona) will see the club’s training facilities, the ‘Ciutat Esportiva’ increase its size by 20%. FC Barcelona have bought a 26,811 m² estate immediately next to its current Masia and training fields, where Messi, Neymar, Iniesta and all the other Barça stars train on a regular basis. Currently, the parcel of land holds the tennis club ‘El Forn’. The cost of the acquisition amounts to €8,270,000, plus VAT, and it will be paid over a five-year period. FC Barcelona’s Director for the Economic and Strategic Area, Jordi Moix, will hold a press conference in the next few days to outline and explain the club’s purchase of the land.

The Italian investment group has announced it will build and manage 3,000 of the 6,000 hotel rooms of the ‘BCN World’ mega resort, the competitor to Madrid’s Eurovegas that is being developed by Veremonte in Salou (Costa Daurada). The $6 billion entertainment resort will be located next to the beach and the PortAventura theme park, which is owned by Investindustrial. After a year of talks, the Italian company has finally decided to join the mega resort project, which will have casinos, hotels, convention centres, luxury shops, restaurants, golf courses and a beach club. The CEO of ‘BCN World’, Xavier Adserà, confirmed that the resort will begin building in the first half of 2014, employing 17,000 people. The hotel group Melià, shopping-mall company Value Retail and casino group Melco Crown Entertainment will build the first phase.

The founder and CEO of technology company GFT announced that they will create 500 new jobs in Catalonia in the coming years. In an exclusive interview with the CNA, Ulrich Dietz, stated that he has “aggressive plans to increase the staff” in Greater Barcelona and Lleida. GFT  specialises in developing technological solutions for the banking and insurance sectors, with a turnover of €231 million in 2012. With several offices in Germany, the company is based in Stuttgart and is present in Brazil, France, Italy, Switzerland, Spain, US and UK. A quarter of GFT employees throughout the world are based in Catalonia. Most of them work in Greater Barcelona, which is the company’s “hub” for the European market. Dietz explained that he has plans to develop Lleida’s facilities, which currently employ 40 people, “significantly”.