93% of foreign companies believe that the recovery of international business will be better in Malaga than in Andalusia and Spain
In 2021, the province of Malaga accounted for 36.9 percent of the gross foreign investment of all of Andalusia, receiving 348 million euros. This figure represented a growth of 32.47 percent compared to the previous year.
Regarding the foreign investment capital that remains in the territory, the province of Malaga represents almost 33 percent of the Andalusian total, followed by Seville (22.3 percent) and Córdoba (13 percent), according to data from the fifth edition of the Business Climate Barometer prepared by the CIEDES Foundation, linked to the Malaga Strategic Plan.
76% of foreign companies that have participated in this work expect that their turnover will grow in 2022, 64% that their investment will grow, and 62% anticipate that their workforce will increase. Spanish companies are less optimistic and only 60.67% of them expect an increase in turnover, 52.81% a growth in staff and 55.06% in investment.
Regarding expectations for 2023, foreign firms are once again more optimistic, since 81% consider that their turnover will grow, 66% in employment and 55% in investment. Meanwhile, among Spanish companies, only 55% trust in growth in turnover, 53.93% in employment and 47.19% in exports.
The reasons why foreign companies stay in Malaga are its geographical location (for 83.3%), the attractions of the territory (for 66.7%) and the easy adaptation of people who come from outside (for 43%).
Regarding the pace of business, 93% of foreign companies believe that the recovery of international business will be better in Malaga than in Andalusia and Spain.
The assets that companies cite to attract talent to this province are quality of life, legal security and sustainability, and, in relation to teleworking, 61% of foreign firms consider it an attractive option, compared to 47% of the Spanish ones.
In the training section, 76.2% of foreign companies opt for in-house training, while 62.9% of Spanish companies opt for private training or business schools.
As measures to improve, companies point to less bureaucracy, better taxation, a greater supply of offices and housing, support for SMEs, commitment to technological Malaga, more investment in R&D&I or a greater link with sustainability .
The mayor of Malaga, Francisco de la Torre, who attended the presentation of the report this Friday, has made a "very positive" assessment of these data that place the province as a leader in foreign investment in the autonomous community "and with prospects of business for the future better than in Andalusia and Spain".
De la Torre believes that administrations "must converge in an effort for bureaucratic agility" and that Malaga has "a good educational and public services offer, but there are still things to improve in mobility."
According to the councilor, the decision to establish itself in Malaga in recent years by companies such as Google, Vodafone, Dekra or Ernst & Young "creates an image of an attractive city in the rest of the world."
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