Evidence on the Determinants of Foreign Direct Investment: The Case of Three European Regions

In the last few years, Catalunya reinforced its position as a business and financial pole in
Spain. In 2002, the gross revenue of the industrial sector was approximately 112.500 millions euros,
equivalent to 25 % of the overall national value. In the same year, Catalunya accounted for 17,5% of
the national bank accounts and nearly 19% of all Spanish bank agencies. (Source: IDESCAT and
www.gencat.net)

Lombardia

It is the most populated Italian region with the highest concentration of business and wealth.
The economy represents one-fifth of the Italian economy. Lombardia concentrates 18,4% of the Italian
workforce with a low unemployment rate (3,8%).

The number of enterprises (740.000) in Lombardia accounts for 15% of the national amount.
The crafts industry represents the largest share of the industrial activity, representing one sixth of the
regional economy (18-20% of the national total).

The industry’s contribution to the regional economy is approximately 36%, while services
represent nearly 62% of the total. In addition, Lombardia is the major Italian financial centre with
25.8% of national commitments and 23,.4% of the overall national deposits.

Lombardia is also a very open region. In 2004, it received 37% of the overall national imports and
30% of the national exports. (Source: Annuario Statistico della Lombardia).

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