The Basque Country has positioned itself as the leading destination for British investment, according to a report by the British Chamber of Commerce in Spain (BCC) presented this Tuesday in London. The study, according to El Correo newspaper, places the Basque Country as the prime receiver destination, with 22% of the direct investment in the last five years. This means it overtakes Madrid, which takes second place with 20%.
Study data reveal that the Basque Country received gross investment of 617 million euros from the United Kingdom in 2014, representing 37% of the total for Spain. Madrid received 34% and Valencia 15%. In the Basque Autonomous Community, the storage, beverage and wholesale trade sectors boosted British investments.
The United Kingdom remains among the top five investor countries in the Spanish State. In absolute terms, the cumulative British investment transactions are estimated at 63 billion euros in the last 11 years, although there were divestitures in 2001 and 2015.