ECONOMIC RECOVERY LURES FOREIGN INVESTORS

06/24/2014 10:53

The slew of Eurozone credit downgrades during the financial crisis fuelled policy makers and economists’ anger at the ratings agencies for pushing investors away from the region. But the times they are a changing…

Last year, US billionaire Bill Gates bought 6 per cent of infrastructure giant FCC, while earlier this year China’s richest man Wang Jianlin acquired Madrid skyscraper Edificio Espana. Investment funds like Blackstone and Cerberus have picked up distressed property assets offloaded by the banks, while overseas leisure groups are eyeing tourism industry opportunities. After receiving the thumbs up from rating agencies like Fitch, Spain will attract more investors to its shores in the coming months.