New research from international real estate advisor Savills reveals that since 2020, Spain has seen 63 international retailers entering the market.
In 2023, 16 international brands opened their first shop in Spain, 14% more than the previous year, and new openings could exceed this total by the end of the year.
French brands account for almost a quarter (23%) of new openings by international operators expanding since the pandemic, followed by the UK, the US and Italy (11% each).
Most retailers chose Madrid as their first location, with the city accounting for just over half of news openings (52%), followed by Barcelona (29%), Malaga (6%) and Valencia (5%). Within these cities, three quarters (75%) of operators have chosen high street locations, while the remaining 25% have opted for shopping centres.
Jorge Alonso-Allende, senior consultant, cross border retail at Savills Spain, said: 'The Spanish market presents a highly attractive opportunity for international retail brands due to its robust economic recovery, strategic location, and high levels of tourism.
'Spanish consumers' increasing preference for diverse and high-quality international products, along with a favourable investment climate and competitive real estate prices, create a favourable environment for new market entrants.
'These factors collectively drive the strong appetite of international retail brands to enter and succeed in the Spanish market.'
