INTERES Invest in Spain

Spain has comparative advantage in labor, location and energy costs.

Spain has the second lowest cost of labor among OECD countries. The net annual labor cost per worker in Spain is about €24,838.09 (€18,280.17 for wages and salaries and €6,557.92 for other costs such as social security) according to the Annual Labor Cost Survey by the Spanish National Statistics Institute (INE) for 2004. The pay differences between the various educational qualifications are notable, as shown in the following table.

As the next chart shows, Spain has an ample supply of available office space at highly competitive prices, clearly below those of other European business hubs, in terms of both the price of land and average office rents.

Energy costs are also lower than the EU average.

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