Spain Becomes Latin America’s Runner-up Investor

Spain is now the second-largest investing nation in Latin America, amassing nearly half of all the money poured into the region by the European Union. Furthermore, the country is beefing up its long-term investment projects and is girding for more, Spanish Tourism and Commerce Secretary Pedro Mejia said this week.

Spanish hotels comprise 44 percent of all foreign accommodations in Latin America with more than 200 lodgings. According to Mr. Mejia, tourism will be one of Spain’s strategic and top-priority lines between 2005 and 2008.

“Tourism plays a major strategic role in our relations with Latin America because it’s meant to be an exceptional tool of cooperation among our countries,” Mr. Mejia was quoted as saying in Madrid.

The internationalization of Spanish companies ranks as one the major goals for the administration of President Rodriguez Zapatero.