Spain’s foreign direct investment (FDI) has dropped for a third year due to competition and an outdated low-cost labour strategy.
Overseas investment in Spain fell by 40 per cent in 2003 compared to 2002, reaching only Ђ22.7 billion, according to statistics just released by Eurostat. The figures show that
investors are no longer impressed by Spain`s low labour cost economy and that the less than buoyant international scenario has prompted a defensive response by many multinationals.
Source: El Paнs
