Economic Strengths
Since the 1990s some Spanish companies have gained multinational status, often expanding their activities in culturally close Latin America. Spain is the second biggest foreign investor there, after the United States. Spanish companies too have expanded into Asia, especially China and India. This early global expansion is a competitive vantage over its competitors and European neighbors. The reason may primarily due to the booming interest toward Spanish language and culture in Asia, but also a corporate culture that learned to take risks in unstable markets.
Spanish companies invested in fields like renewable energy (Iberdrola was the world's largest renewable energy operator), technology companies like Telefónica, Abengoa, Mondragon Corporation, Movistar, Hisdesat, Gamesa, Indra, train manufacturers like CAF, Talgo, global corporations such as the textile company Inditex, petroleum companies like Repsol and infrastructure, with six of the ten biggest international construction firms specialising in transport being Spanish, like Ferrovial, Acciona, ACS, OHL and FCC.
Read more about this topic: Economy Of Spain
Famous quotes containing the words economic and/or strengths:
“But I would emphasize again that social and economic solutions, as such, will not avail to satisfy the aspirations of the people unless they conform with the traditions of our race, deeply grooved in their sentiments through a century and a half of struggle for ideals of life that are rooted in religion and fed from purely spiritual springs.”
—Herbert Hoover (1874–1964)
“A man who has never lost himself in a cause bigger than himself has missed one of life’s mountaintop experiences. Only in losing himself does he find himself. Only then does he discover all the latent strengths he never knew he had and which otherwise would have remained dormant.”
—Richard M. Nixon (1913–1995)