Staff Reporter
In recent years, Spain has repositioned itself as one of Europe’s leading tech hubs. Barcelona and Madrid are two of the nation’s most vibrant tech cities, with a thriving ecosystem for tech startups and continued investment being poured into their ever-evolving technology sector.
Here is a closer look at how Spain has become the European Union’s shining light for technology.
What are the key tech sectors currently thriving in Spain?
Spain’s robust digital infrastructure and matured financial and legal framework are more favourable than ever to tech companies. The ecosystem here is constantly maturing to help Spain become a leading European tech hub.
Some of the key tech sectors currently thriving in Spain are the following:
- Fintech
- Cybersecurity
- Renewable energy
- Artificial intelligence (AI)
- Healthcare
- Cloud computing
- eCommerce
The iGaming sector, which relies on numerous technologies, is also showing signs of incredible growth.
Thanks to advanced computer programming languages, AI-powered tools, better regulations, faster internet speeds, cloud computing technology, enhanced cybersecurity, more powerful PCs and mobile devices, and faster, more efficient, responsive, and dynamic websites and web browsers (and various other key technologies), this industry continues showing continued year-on-year growth.
For example, people who play slot games, classic table & card games, and highly sophisticated live dealer games on legally permitted websites in Spain now have a safer environment to play their favourite titles, a more tailored/personalised experience, quicker transaction processing times, and a more engaging and immersive experience.
How has Spain repositioned itself as one of Europe’s key players in the tech industry?
Despite various economic challenges, Spain is fast becoming a tech powerhouse on the European stage thanks to a strong commitment to fostering innovation and developing its dynamic startup ecosystem.
Over 94% of the population is connected to the internet, and this high internet penetration rate creates a hospitable digital environment for online businesses.
Spain has a well-developed ICT (Information and Communications Technology) sector, and thanks to continued investment being poured into the infrastructure, there is now widespread high-speed internet and sophisticated fiber optic networks that many digital businesses benefit from.
Tech companies also receive plenty of government support, thanks to new policies and initiatives, such as the Startup Law, which helps to create and scale new tech companies by reducing red tape obstacles and providing various tax incentives.
Another supportive policy that has helped tech companies thrive in Spain is the Rising Up in Spain Program, which was designed to assist foreign entrepreneurs and provide end-to-end support, including visibility assistance and market guidance.
Additionally, High-growth tech startups specialising in key sectors, such as renewable energy, cybersecurity, and artificial intelligence (AI), are supported by initiatives such as the Next Tech Fund.
Spain has a highly skilled and talented workforce, and the tech industry growth is now spreading beyond major cities like Madrid and Barcelona, creating new opportunities across the country for tech students with STEM (Science, Technology, Engineering, and Mathematics) qualifications.
Valencia, Seville, Malaga, and Bilbao are also emerging as tech hubs in Spain and are currently undergoing a digital transformation with sustainable innovation. Many of the startup companies based in these cities focus on key areas, such as AI, biotechnology, renewable energy/climate tech, SaaS, fintech, digital health and cloud computing.
Roles in these sectors are currently in high demand in Spain, as more people than ever are focusing on obtaining new tech skills over traditional credentials.
Final thoughts
Some of Spain’s most notable tech companies that are helping the country become Europe’s new tech hub are Telefonica, Amadeus, Indra, and Globant.
Other leading tech companies in Spain that are also contributing billions annually to the economy are Cabify, RavenPack, Mashape, Cookpad, Wallapop, TravelPerk, Idealista, Spotathome, and Jobandtalent, to name a few.
Over the coming years, experts who follow the industry closely expect Spain to continue evolving into a true tech powerhouse, not just in Europe, but also on the global stage.
Click here to read more Technology News from The Olive Press.
