Exploring Business Opportunities in Spain and Portugal
As global markets continue to evolve, businesses in West Virginia are increasingly seeking to expand their reach beyond U.S. borders. If international growth is part of your strategy, Europe—specifically Spain and Portugal—should be at the top of your list. And with the West Virginia Department of Economic Development (WVDED) heading to these countries in June 2025, there’s no better time to start planning your expansion.
✈️ Why Europe, Why Now?
Europe is more than a cultural treasure. It’s a dynamic economic region offering:
- A combined GDP of over $16 trillion
- Access to more than 450 million consumers
- Strategic trade agreements with the U.S.
- A strong appetite for U.S.-made goods, especially in sectors like advanced manufacturing, tech, life sciences, aerospace, and specialty food & beverage
📍 Spotlight on Key Markets
🇪🇸 Spain: A Gateway to Southern Europe and Latin America
Spain is the 4th largest economy in the Eurozone and consistently ranks in the top 15 global economies. With over 47 million consumers, modern infrastructure, and historical trade ties with Latin America, it’s a strong base for expanding into broader international markets.
Beyond that, Spain is:
- A leading market for U.S. exports, especially in aerospace, medical devices, and ICT
- Home to 14 Free Trade Zones, easing customs processes
- A top recipient of EU green investment funds, boosting demand in the clean tech sector
- Strong in R&D with government incentives for foreign investors in innovation
Top Opportunities:
- Renewable energy & environmental tech (solar, wind, water reuse)
- Advanced manufacturing & industrial equipment
- Health and wellness products (nutraceuticals, medical devices)
- Smart cities & infrastructure modernization projects
💡 Fun Fact: Spain has over 3,000 miles of high-speed rail and some of the busiest seaports in Europe, making distribution efficient and cost-effective.
🇵🇹 Portugal: A Rising Star in Innovation
Portugal offers a pro-business climate, government-backed incentives for foreign investors, and a strategic location with easy access to Europe, Africa, and the Americas. The country has made major strides in digital transformation and green technology, while maintaining one of the lowest operational costs in Western Europe.
Portugal is:
- Ranked #1 in English proficiency in Southern Europe
- A global hotspot for tech and startup ecosystems (Lisbon Web Summit is a major tech event)
- Highly integrated into EU supply chains, particularly in automotive and aerospace
- Offering generous R&D tax credits and startup grants
Top Opportunities:
- IT services & software (cloud, cybersecurity, enterprise solutions)
- Aerospace components & maintenance services
- Sustainable construction & green building tech
- Marine technology & ocean-based industries (Portugal has the largest EEZ in the EU)
🔍 Did you know? Portugal was ranked among the top 5 most business-friendly countries in Southern Europe (World Bank Ease of Doing Business report).
📊 European Trade at a Glance
Here’s a quick snapshot of Europe’s potential for West Virginia exporters:
| Country | Population | 2023 GDP (USD) | WV Export Opportunity Sectors |
| Spain | 47 million | $1.6 trillion | Manufacturing, Clean Tech, Health |
| Portugal | 10 million | $289 billion | Tech, Aerospace, Green Energy |
🤝 Join the WVDED Trade Mission – June 9-13, 2025
This mission is designed to connect West Virginia companies with:
- Pre-qualified business leaders
- In-country support from the U.S. Commercial Service
- B2B matchmaking and networking events
- Market briefings and site visits
📢 Limited spots available! If your company is looking to grow internationally, now is the time to leverage our support and experience Europe firsthand.
✅ Next Steps
Ready to take your business global?
Here’s how to prepare:
- Contact the WV Export Promotion Program – We’ll assess your export readiness and help with market selection.
- Register early for the 2025 Europe Trade Mission.
- Utilize resources like grant programs (STEP), export counseling, and market research tools.
🚀 Let’s Go Global, Together
The world is open for business—and West Virginia is ready to lead. Whether you’re exploring exports for the first time or expanding your global footprint, Europe offers the connections, confidence, and customers you need.
📧 Connect with us today to learn more and secure your spot for the June 2025 trade mission.
Let’s make Europe your next business destination!
