TECH giant Meta, the parent company of Facebook, has announced big investment plans for Spain.

Meta will recruit 2,000 more employees in the next five years and will build a world-first ‘Meta-lab’, described as ‘a flexible base for remote workers in Spain with space for local tech entrepreneurs and small businesses start-ups’, in Madrid.

The company also said it would begin construction of a new data centre in Castilla-La Mancha.

Facebook said: “The additional investments we are announcing are a vote of confidence in the strength of the Spanish tech industry and the potential of Spanish tech talent. We look forward to continuing to build our presence here, innovating in Europe, for Europe.”

Facebook Press Release
An image of the new hub in Madrid.
Photo: Meta press release.

The metaverse is Facebook’s virtual environment which it envisages as a ‘successor to the mobile internet.’

Meta describes it as: “a boundless environment that manifests social interaction, gaming, entertainment, finance, and many more – accessed as easily as the internet. Imagine being inside the internet rather than just viewing it on your device, with the tap of one button.”

Despite big talk, the meta virtual world has been criticised as being a lot of hot air.

Nonetheless, the investment will be seen as a vote of confidence in Spain’s tech industry.

“Spain is at the forefront of European tech. The country benefits from having two strong tech hubs: Barcelona and Madrid, as well as newer centres in Valencia and Andalucia. 

“Both are at the centre of the tech scene and attract entrepreneurs, talent and local and international investors. Spain is seeing record levels of investment in start-ups solving everything from online grocery delivery to neuroelectronics,” it said.

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