Why should business in the North West and Greater Manchester be looking at growing their business in Spain and specifically Madrid?
Spain is one of the top trading and investment partners for the NorthWest and Greater Manchester city region. In 2022, there were over 3,700 businesses across the Northwest successfully trading with Spain and generating exports in the region of £3.45bn for goods and services and it is estimated there is still over £4.11bn worth in unrealised export potential for British Companies in this market in areas such as automotive, aerospace, chemicals, machinery and electronic equipment and medical devices to mention but a few.
The UK is also one of the leading investors in Madrid and in 2022, UK’s investment reached an estimated of £3.4bn.
Madrid has become a hub for:
- Cybersecurity
- Spain is the 2nd largest European economy and 7th in the world in terms of cybersecurity maturity.
- For the City Council, Cybersecurity is a strategic sector, and it is committed to the arrival of new projects in this area, offering aid and incentives, land, institutional support for public-private initiatives, etc.
- Seven public universities and 11 private universities, with a range of specialized degrees and post graduate courses in cybersecurity, as well as programs specifically designed for companies with a broad student base.
- Medtech
- The Spanish pharmaceutical and biotechnology industry has become one of the most dynamic and competitive globally.
- Madrid has been particularly successful in recent years in creating an integrated healthcare ecosystem, with an extensive network of public and private hospitals, state-of-the-art research centres and universities.
- 80% of the world’s largest biomedical and pharmaceutical companies are present in Madrid.
- Fintech
- Madrid is the headquarters of 3 large financial institutions (Santander, BBVA, Mapfre) with more than 250 million clients in more than 30 countries.
- Madrid is the nerve centre of Fintech and Insurtech institutions and associations in Europe and Latin America (Euro Fintech Alliance, Fintech Iberoamerica, Spanish Fintech and Insurtech Association, MAD Fin tech cluster, etc.).
- Madrid’s Fintech companies have penetrated all business niches, making Madrid the 4th city in the world with the highest number of Fintech companies
Not only that, Madrid also boast expertise in video gaming and big data sectors.
Greater Manchester Chamber has partnered up with Madrid Investment Attraction (MIA) and How2Go to provide insights why Madrid has become leading European Hub for businesses in Medtech, Cybersecurity and Fintech sectors to mention but a few.
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- When: 17th April 2024
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