Costa Attracts Half the Foreign Investment Coming to Andalucía
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FREE COPY FILMING THE NEWSPAPER FOR SOUTHERN SPAIN The Crown Official market leader moves into its Audited by PGD/OJD August 9th to 15th 2019 Malaga office www.surinenglish.com The producers of the Netflix series are in the News 2 Health & Beauty 43 24 53 Comment My Home city to oversee the Lifestyle 26 Sport 48 What To Do 38 Classified 57 Spanish filming of the 42 62 in English Food & Drink Time Out fourth season P26 Temperatures hit 40ºC as Terral winds stifle the Costa del Sol This summer’s highest temperature so far was recorded at Malaga Airport on Wednesday An amber weather warning of high temperatures was issued for today, Friday, as the warm Terral wind could bring record-breaking highs to Malaga and the Guadalhorce Valley areas. P12 RECYCLING WITH LAS MENINAS Decorated models of the iconic figures in the Velázquez painting are doing their bit for the environment in the streets of Malaga P38 Passers-by pose with one of the “meninas” outside the Roman theatre. :: FÉLIX PALACIOS :: F. P. Mercedes-Benz chooses Marbella for global Costa attracts half the foreign launch of new model, impressed by congress investment coming to Andalucía centre improvements P3 Almeria’s underground jewel goes on display. The A report says that 60 per cent of firms The province of Malaga, including study. In optimistic findings, it shows the Costa del Sol, received 51 per cent foreign investors are attracted by good giant geode of Pulpí with its with foreign capital in Malaga province are of foreign money that came into the communications, including the air- enormous crystals opened Andalucía region in 2017, according port, but they least like energy costs, to visitors this week P32-33 expecting to invest more here this year to a high-profile inward investment taxes and regulations. P2-3 Response to Triple A appeal saves shelter from closure The animal association has been inundated with donations since it aired its financial crisis P6 22222222 August 9th to 15th 2019 NEWS SUR IN ENGLISH Fifty per cent of foreign investment in Andalucía comes to the Costa area, report says HOW FOREIGN COMPANY’S TURNOVER EVOLVED (%) WHAT ATTACTS INVESTORS TO MALAGA PROVINCE 70% 64.3 Criteria most highly valued by companies who took part in the survey Score out of 5 60.7 NURIA 60% Airport 4.71 TRIGUERO 57.1 High Speed Train 4.09 Increased [email protected] Port 3.95 50% Reduced Leisure and culture 3.76 A survey of companies No change Availability of infrastructure and telecommunications services 3.72 40% Security 3.57 based in Malaga province Roads 3.51 with foreign capital reveals 30% Logistics centres 3.47 Availability of unqualified labour 3.44 an optimistic attitude: 23.2 21.4 21.4 21.4 Scientific and technology parks 3.44 20% about 60 per cent expect Availability and quality of supply networks 3.41 14.3 16.1 their investment to Capacity for learning 3.30 increase this year 10% Availability of researchers 3.30 Cost of living 3.28 0% Access to foreign markets 3.26 2017 2018 2019 MALAGA. The Costa del Sol is not Cost of unqualified labour 3.24 only the favourite destination for Availability of qualified workers 3.21 tourists who come to Andalucía, but CHANGE IN INVESTMENT BY FOREIGN ENTITIES (%) Quality of business colleges 3.20 for entrepreneurs and investors as Railway freight services 3.13 well. The province of Malaga received 51 per cent of foreign investment into Increased 60% the region in 2017, which was 0.84 Reduced 57.1 55.4 No change per cent of the total in Spain. This is 51.8 according to the second annual re- 50% WHAT THEY SEE AS THE DOWNSIDE port on the business climate in Malaga province, drawn up by the Ciedes 40% 39.3 Criteria least valued by companies which took part in the survey Score out of 5 Foundation and Malaga city council’s 35.7 Cost of electricity 1.96 inward investment office. 32.1 Other energy costs: diesel, etc. 2.07 30% Malaga and the Costa’s slice of the Speed and efficiency of commercial courts 2.08 Andalusian foreign-investment cake Availability of subsidies 2.27 grew considerably compared with 20% Costs of adapting to different regional and local regulations 2.31 Lines of public funding 2.37 the previous year (31 per cent). Gross 21.5 10.7 foreign investment increased by 38 10% Company tax 2.39 per cent compared with 2016, to 205 5.4 IVA (VAT) and special taxes 2.41 Telephone and Internet costs 2.41 million euros, while in Andalucía as 0% a whole it reduced slightly. 2017 2018 2019 Bureaucracy involved in the functioning of the company 2.43 Analysis of investment value held Social Security payments for employees 2.48 in the province, (rather than what Transport 2.50 comes in and out over time), shows STAFF ACCORDING TO THE COMPANIES IN 2019 (%) Industrial land 2.52 that Malaga was the province in the Language skills 2.52 region with the highest growth be- Increased Reduced No change Cost of adapting to environmental regulations 2,53 tween 2013 and 2016, at more than Office rent 2.56 Incentives and assistance for contracting 2.60 64.7 per cent, compared with 34.1 per Over 500 60 20 20 cent for Andalucía. Taxes on non-residents 2.64 This and other data is included in Size of the local market in Malaga 2.65 the report, which the mayor of 251 - 500 17 33 50 Legislation regarding competition 2.66 Malaga, Francisco de la Torre, said is the only one of its type carried out 51 - 250 38 24 38 by a Spanish city. It studies different ROOM FOR IMPROVEMENT statistical sources as well as the re- sults of a survey which was sent to 10 - 50 47 6 47 Criteria considered important which received low scores 150 local-based companies with for- Language skills eign capital and 50 entities and indi- 1 - 9 40 10 50 Electricity costs viduals who work with this type of Availability of international schools company. 0% 20% 40% 60% 80% 100% Quality of business colleges One of the most relevant aspects Acceptance of responsbilities and objectives Source: Fundación Ciedes August 9th to 15th 2019 3 SUR IN ENGLISH NEWS of the report is the companies’ ex- New boss of pectations regarding turnover, in- vestment and job creation. Mª Car- Malaga Airport men García Peña, the head of Cie- des, says this is generally positive, shows confidence especially among the larger com- in future routes panies with foreign capital. About 60 per cent of those with over 500 and investment employees expect to take on more workers this year, while 20 per cent think levels will stay the same :: PILAR MARTÍNEZ and 20 per cent expect to reduce MALAGA. Speaking at the busi- them. est time of year for plane activ- The perspectives for turnover ity, the new director of Malaga and investment are also good. Just Airport has been explaining more over 60 per cent of the companies about his plans. expect their volume of business At a working breakfast with to increase this year, and that is journalists last week, just a month more than last year. With regard into the job, Pedro Bendala an- to investment, 57 per cent believe nounced that the forecasted in- it will increase. The major compa- vestment budget for next year at nies are the most optimistic, as 80 the airport will be 38 million per cent expect to see an increase euros, with the focus on making this year. the terminals more environmen- tally friendly. “Aena [the airport Evaluation operator] has made the promise Foreign companies gave Malaga Inside the congress centre, the venue chosen for Mercedes’ November unveiling. :: JOSELE of becoming carbon neutral, so province a score of 2.94 (out of we have to reduce our emissions five) in overall terms, which was and those of the 300 companies slightly lower than the previous working at the airport.” 3.14, but García Peña explains that Mercedes is latest luxury car brand Speaking about the airport’s this is due more to a change in the future growth, he said that “the questions asked in the survey sky is the limit” and that a mas- (there were more aspects to score) to arrange global launch in Marbella ter plan is needed “to activate in- than a worsening opinion of the vestment when the need arises”. city. The factors most highly val- Bendala also commented on ued by the companies when de- the increase in longer-distance ciding on Malaga and the Costa Improvements to the night stays in three to five star ho- into securing the Mercedes deal and routes operating this summer sea- were infrastructure, quality of life, Palacio de Congresos are tels, attract invited guests from 24 beating the competition. She ex- son. “Every day a year-round flight innovation and human resources. countries and bring together 400 plained that the worldwide image between Malaga and New York The downsides were costs, the being hailed as a reason journalists, bloggers, influencers. of Marbella as a luxury destination gets closer,” he said, adding that regulatory environment and tax. for attracting the As well as the extra business in and recent renovations costing the growth in connectivity to the The investing companies were November event, which low season for hoteliers, the activ- 400,000 euros at the congress cen- Middle East was also important.