In the last few years a large number of American companies, such as IBM, Pfizer, Oracle, Celgene, Caterpillar, AIAC, Freeport Moran, Microsoft, Cargill, Abbott Laboratories, Agilent Technologies and Costco, to name just a few, have chosen Andalusia to operate in southern Europe. This includes installing their head offices for their EMEA divisions (Europe, Africa and Middle East).
There are many reasons that explain such decision: its strategic geographical location within easy access to the rest of Europe and Africa, a safe developed environment within the European Union, access to highly qualified people at a lower cost than 27 EU countries average, and around 15% lower than other Spanish areas (Madrid, Barcelona), etc.
Moreover, Andalusia has a solid network of technology parks, including fields such as biosciences, IT, energy and aero spatial technology. It also has spectacular infrastructures such as the Port of Algeciras, the busiest container port in the continent of Europe, the Port of Huelva, the largest one in gas and oil transportation, and a high-speed train network which connects Andalusia to 400 million consumers all over Europe and 100 millions in northern Africa.
Some of these multinational companies are also exporting goods and services and benefit from the vast number of tax treaties between Spain and many countries, particularly Latin American ones.
Additionally, a recent study made by Banc HSBC reveals that senior managers and managers working away from their countries select Spain as one of their main favorite destinations and justify their election with reasons such as international education for their children, a lifestyle of comfort, and a great quality of daily life.
All the above shows that Andalusia, more specifically Málaga as an industrial technological reference within the region, and the Costa del Sol, are the destination of many permanent residents, especially multinational corporation managers with a high purchasing power and a large part of their expenses paid by their respective companies.