Spain is located in southwestern Europe and borders the Pyrenees Mountains, Bay of Biscay, North Atlantic Ocean and Mediterranean Sea. It has a total area of 505,370 km2, and its population is 47,042,984 as per 2010 reports. The climatic conditions of the country vary from temperate in the interior parts to moderate along the coastal regions.
The national flag of Spain.
Image Credit: CIA Factbook
The country is rich in natural resources such as kaolin, sepiolite, gypsum, fluorspar, uranium, zinc, lead, copper, tungsten, iron ore and coal. The country was severely affected by a civil war in the 1930s, which slowed down its economic growth. However, the transition to democracy and rapid economic modernization during 1980s made the country one among the strongest economies in the world.
Doing Business in Spain
Spain is one of the most significant economies in the world: 13th in terms of size and an attractive destination for foreign investment, making Spain the 11th largest recipient of FDI worldwide. Spain's appeal for investment lies not only in its domestic market, but also in the possibility of operating with third markets from Spain. This is because Spain has a privileged geo-strategic position within the European Union giving access to almost 1,900 million potential clients in the EMEA Region (Europe, Middle East and Africa). Its strong economic, historic and cultural ties also make Spain the perfect business gateway to Latin America.
Furthermore, Spain is a modern knowledge-based economy with services accounting for 74.35%of economic activity. The country has become a center of innovation supported by a young, highly qualified work force and competitive costs in the context of Western Europe.
Spain Ranked 32 out of 190 countries on “ease of doing business” by the World Bank. The Fraser Institute - shows Europe as an attractive destination for investment alongside, USA, Australia and Canada. Spain scores quite well on most measures of attractiveness as a destination for mining investment, with steadily improving attractiveness on a number of measures over the past 5 years
Spain saw its ranking increase by more than 10 spots this year, moving up from 35/109 in 2015 to 24/104 in 2016, with improved ratings from respondents for uncertainty concerning environmental regulations (-22 points), uncertainty concerning the administration, interpretation, or enforcement of existing regulations (-19 points), and improved in four of the last five years, moving up from 33/109 in 2015 to 27/104 this year, with a higher PPI score reflective of improved perceptions of the geological database (-25 points), socioeconomic agreements/community development conditions (-17 points), and trade barriers (-16 points).
Spain has some of the most mineralized territory in Western Europe, including the volcanic-hosted massive sulfide (VMS) deposits of the Iberian Pyrite Belt (IPB) of southern Spain. The IPB alone was estimated to have yielded 1.7 billion tons of sulfides, and more than 80 VMS deposits have been recorded in which individual tonnages were in excess of 1 million tons. Spain had the largest known reserves of celestite (Europe's sole producer, ranking second in world production, behind Mexico); was home to the richest mercury deposit in the world and one of the biggest open-pit zinc mines in Europe; and remained the leading producer of sepiolite, with 70% of world reserves (around Madrid). Spain was the largest EU producer of mine lead and zinc, and a major producer of pyrites, among other nonferrous and precious metals.