Nikulin Kirill
Spanish capital in Latin America in crisis conditions. Investment aspect
Publication Type:


ISSN 0235-5620

DOI 10.31249/ape/2022.03.08

The article analyzes the current state of Spanish-Latin American investment ties and assesses the prospects for their development. The research task of the article is to analyse the functioning of Spanish capital in the key Latin American region under the crisis conditions of the last five years. A distinctive feature of Spain among other EU members in the Latin American region is the institutional aspect, which has become one of the drivers of sustainable Spanish-Latin American investment cooperation, in which Iberoamerican multinational enterprises (MNEs) play a key role. To create an up-to-date panorama of investment interaction, the dynamics of Spanish foreign direct investment (FDI) flows the author does assesse their key corporate participants Spanish investments are characterized in comparison with global FDI flows to the region. The financial performance of the leading MNEs participating in the investment process is analysed this factor serves as an indicator to reflect current trends in Spanish-Latin American investment cooperation. The impact of the global financial crisis, the COVID-19 pandemic, the current tense geopolitical and geoeconomic situation is taken into account, the evolution of the dynamics of Spanish FDI in Latin America’ and the Caribbean region (LAC) over the past five years is given, the reasons for the main changes and the prospects for their development are indicated. Examples of the processes of internationalization of individual Spanish companies are given. The conclusion is made about the continued dominance of investment as opposed to trade in the vector of Spanish interaction with the LAC countries, with a general decline in Spanish FDI flows, their reorganization, reorientation to Western countries and the existence of new global challenges to the sustainable growth of investment, the prospects for attracting FDI to the region are assessed. In this regard, challenges and associated opportunities are identified.

Acknowledgments: The reported study was funded by RFBR. Project number 20–314–90006.


Keywords: Spain | Latin America and the Caribbean | multinational enterprises | IBEX-35 | foreign direct investment | internationalization |



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