As the European financial crisis intensifies, Spanish corporations have exhibited a rather bold economic game plan in the Latin American market. However, this is not the first time that Spanish corporations have turned to the once shunned region in the search for economic growth and prosperity. The potential economic benefits to be found in Latin America are pivotal to foreign investors and critical for many Spanish corporations to expand.

Source: AP

Previous developmental plans and investments in the private sector concentrated solely on the economic prosperity of these business firms while ignoring the social well being of the host country. This latest Spanish investment wave focuses on non-extractive sectors of the economy, such as banking and telecommunications, which have progressed in such a way that various social and economic developments of several enterprises were able to coexist. Despite the region’s volatile political environment and recurrent collisions of economic interests, the area has shown significant progress in the accumulation of revenue from Spanish investors.

Click to keep reading: Pre-2008 Crisis Spanish investments in Latin America: The First Wave