From the 90′s, Spanish companies are becoming internationalized majors figures reaching high volumes in companies based in search of natural resources and low production costs.

Linguistic and cultural proximity is a key for Spanish companies considered to be spread by emerging countries, along with a number of factors that will encourage this growth: international economic environment, democratization and stabilization of the political climate, programs structural reforms, low labor costs, elimination of barriers to foreign direct investment, the political deregulation and privatization and regional integration arrangements among others.

Spanish investments sector focused on services, characterized by a tendency towards the creation of oligopolies.

Investment by Spanish companies in Latin American countries had great influence on both local and competitors in international, gaining strong positions in banking-finance sector, energy and telecommunications, through an investment of 2.109 million euros to 126,730 thousand million euros between 1993 and 2006, more than the total Spanish FDI abroad, and not just big companies but also medium and even small distinguished by their international competitiveness.

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