A recent report by the Official Chamber of Commerce of Spain in Peru and the Universidad del Pacífico revealed that Spanish investment contributed some US $ 40,000 million to the Peruvian economy between 1993 and 2019, which is equivalent to 1% of Gross Product Internal (PBI) From Peru.
The document, which will be officially presented at the America House of Madrid, collects in figures the quantitative impact of the action of Spanish companies in Peru, a significant contribution that also translated, always according to the study, in the creation of 1 million 273 thousand 366 direct and indirect jobs in the country.
”The report states that this contribution would be sustained at about US $ 20,000 million in investment and reinvestment direct from the companies, since the Spanish have reinvested in Peru, the capital has not returned. Logically, this has grown over time, as investments have had a long-term, long-term perspective ”, Alberto Almendres, president of the Spanish Chamber, pointed out for the Efe agency.
The report collects data from the National Institute of Statistics and Informatics of Peru, the Central Reserve Bank of Peru, the Peruvian Treasury and the Secretary of State for Commerce of Spain, among other organizations, and processes them under academic models to disaggregate data. systematically the contributions of investments to each sector of the economy, employment and public finances.
The document also points out that Spanish investment, through the increase in PBI, has had a significant contribution to the tax collection of Peru equivalent to US $ 1,400 million.
In sales tax (IGV) the estimate is that Spanish investment is responsible for 0.7% of everything collected in the study period.
Etapas
In these years, Spanish investment arrived in the country in three “waves”, which have accompanied the economic development of Peru.
”At the beginning, the largest arrived, acting on public or mass sectors, such as Telefónica or Repsol and BBVA. It is a great investment, which is very influential. Then came the builders, linked to infrastructure projects. And as a result of the crisis in Spain (2008) the SMEs arrived ”, recalled Almendres.
Despite this diversity, means that today there are 414 Spanish companies operating in the country, there is a fact “transversal to all of them, and that is that they have come to settle.”
“Many have established a subsidiary or subsidiary, many of them today are Peruvian companies, with Peruvian executives and managers, who, although they are still Spanish investment, are assimilated to Peru and consider themselves Peruvian,” he said.
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