Madrid courts global capital as Spain pitches itself as a safe harbour for investment

More than 75 multinational companies from 25 countries gathered at Madrid's Royal Theatre on Monday for the second Invest in Spain Summit, a one‑day affair that has quickly become the government's flagship forum for wooing foreign capital. By almost any measure, the timing was deliberate: global markets are jumpy, supply routes are frayed, and investors are hunting for places that look steady. Spain is betting it fits that description.

The numbers behind the event tell their own story. The summit brought together executives from 19 American companies — just over a quarter of the total — reflecting the United States' continued status as Spain's largest foreign investor. China and Japan supplied the next‑largest contingents, followed by the United Kingdom, Switzerland, India, Germany, France and Italy. The guest list also included firms from Canada, Denmark, Sweden, Singapore and Morocco, a sign that Spain's investor base is becoming noticeably more diverse.

The format was not just ceremonial. More than 170 bilateral meetings took place between corporate representatives and Spanish ministries, including Economy, Industry, Digital Transformation, and Defence — a level of direct access that executives tend to appreciate more than speeches. King Felipe VI was scheduled to close the proceedings, lending the gathering a weight beyond routine trade promotion.

What the government wanted investors to hear came through clearly in the opening address. Prime Minister Pedro Sánchez, who inaugurated the summit, called Spain "a true safe haven" amid "turbulent and uncertain" global conditions. He pointed to energy price shocks, stock market volatility, and an unusual drop in gold prices since the start of the Middle East conflict — all of which, he argued, make a case for looking at Spain differently.

To make that case numerically, Sánchez offered a long‑range calculation: one dollar invested in Spain in 1960 would be worth 160 dollars today, a return he said no other major European economy except Ireland has matched. He also noted that Spain created more than half of all new jobs in the European Union last year while accounting for only a tenth of its population. According to the IMF, the Spanish economy will lead European growth for five consecutive years.

The government's economic team reinforced the message with more immediate data. First Vice President Carlos Cuerpo, who also serves as Economy Minister, cited ICEX's Business Climate Barometer, a survey of more than 700 executives of foreign‑owned companies in Spain: 85% plan to maintain or increase their investment levels in the country this year. That is a strikingly high vote of confidence given the surrounding uncertainty.

Spain can point to genuine scale. The country is home to more than 22,000 foreign‑owned companies that generate approximately two million jobs, concentrated in export‑oriented, industrial and technology activities. The stock of foreign direct investment stands at $867.6 billion, the highest figure in the historical series, making Spain the 12th largest recipient of FDI globally. In greenfield projects — new investments rather than mergers or acquisitions — Spain ranked as the top European Union destination in the first quarter of 2026.

Those numbers help explain why Madrid is investing political capital in this forum. The first Invest in Spain Summit in 2025, though disrupted by a power outage, still generated more than €4.4 billion in investments and over 4,500 jobs. This year's edition, with its expanded bilateral agenda and higher‑profile attendance, aims to build on that.

None of this means Spain is immune to the strains affecting Europe more broadly. The government's own central scenario sees GDP growth of 2.2% this year, down slightly from some earlier estimates. The Bank of Spain projects 2.3% growth for 2026, with inflation accelerating to 3% before easing. Those are not boom numbers. But compared to anaemic growth forecasts elsewhere in the eurozone, they look solid.

What the summit ultimately showcased was a country making a clear, evidence‑backed argument: that foreign capital should take a fresh look. Whether the 170 bilateral meetings translate into announced projects will take months to know. But in a world where safe harbours are getting harder to find, Spain is putting itself forward as one of the few still available.