Italy vs Spain
A data-driven side-by-side: investment score, economy, business climate, political stability, and tax, to help you decide where to invest, incorporate, or relocate.
Overall: Spain ranks higher
Spain scores 76/100 on our composite investment index, ahead of Italy at 72/100. This blends economic strength, political stability, business climate, financial maturity, and growth outlook. Read the breakdown below to see where each country actually leads.
Category breakdown
70
Economic strength
Spain leads
74
72
Political stability
Spain leads
78
68
Business climate
Spain leads
74
72
Financial maturity
72
72
Growth outlook
72
Macro snapshot
2,255
GDP (USD bn)
+673.4 bn
1,582
0.8%
GDP growth (%)
-1.7 pp
2.5%
$38,160
GDP per capita (USD)
+4880.0
$33,280
2.2%
Inflation (%)
-0.6 pp
2.8%
1.5%
FDI (% of GDP)
-1.3 pp
2.8%
141%
Public debt (% of GDP)
+33.0 pp
108%
59
Population (M)
+10.9M
48.1
Italy: strong sectors
- Fashion & Luxury5.2% of GDP82
- Manufacturing16.5% of GDP78
- Tourism13.2% of GDP78
- Agriculture & Food2.2% of GDP72
Spain: strong sectors
- Tourism12.0% of GDP82
- Renewable Energy5.0% of GDP80
- Automotive4.0% of GDP72
- Agriculture3.0% of GDP68
Frequently asked
Which is better for investment: Italy or Spain?
Our composite investment index gives Italy a score of 72/100 and Spain a score of 76/100. Spain ranks higher overall, but the right answer depends on your sector and risk tolerance. See the category breakdown above.
Is Italy a safer market than Spain?
Risk classification puts Italy as moderate (Growing economy with manageable risks - suitable for diversified portfolios) and Spain as safe (Strong fundamentals, stable governance, favorable investment climate).
Which has higher GDP growth: Italy or Spain?
Italy is currently growing at 0.8% per year, vs 2.5% for Spain. Spain has the faster headline growth rate today.