In recent years, Malaga has emerged as a standout destination for both investment and relocation. With its strategic location, vibrant economy, and high quality of life, the city offers an attractive proposition for businesses and individuals alike.
From a burgeoning tech hub to a thriving real estate market, Malaga combines the best of modern infrastructure with a rich cultural heritage. This dynamic environment has positioned Malaga as a leading choice for global companies, digital nomads, and expatriates seeking new opportunities and a superior lifestyle.
Tech and Innovation Hub
Malaga is rapidly emerging as a key player in the global tech landscape, attracting major companies and fostering innovation. The city’s Tech Park hosts leading firms such as Vodafone, Globant, Oracle, EY, Ericsson, TDK, Accenture, NTT Data, Ebury, Dekra, and Talan.
Recently, Google established a new centre of security engineering in Malaga, positioning the city at the forefront of European tech innovation and creating numerous job opportunities.
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Education and Talent
Malaga has a vibrant academic community, with 30,000 students enrolled across various learning hubs. This concentration of young talent supports a dynamic and skilled workforce, crucial for the continued growth of the tech sector and other industries in the region.
Strategic Location and Infrastructure
The city’s strategic location and excellent infrastructure make it a prime spot for digital nomads and future-focused employees. Malaga boasts great connectivity, including the Malaga-Costa del Sol Airport, which has surpassed 20 million passengers, solidifying its status as a vital transportation hub.
Enhanced by new and expanded routes from airlines such as United Airlines, EasyJet, and Volotea, Malaga is more accessible than ever. United Airlines is expanding its service from Newark to Malaga, while EasyJet and Volotea are introducing new routes to European destinations.
Real Estate Market
The real estate market in Malaga is experiencing robust growth, with 18 municipalities reaching historic price highs due to limited supply. In October 2023, property prices in the province rose by 11% year-over-year, with rental prices also increasing significantly. This trend indicates strong demand and a healthy investment climate in the region.
Quality of Life
Malaga’s quality of life is another major draw. According to the InterNations survey of 2023, it is considered the best place to live for foreigners, thanks to its pleasant climate, rich cultural heritage, and welcoming community. These factors are pivotal in attracting and retaining talent from around the world.
Economic Growth and Investment
Since 2019, 72 global companies have established offices in the city, generating 6,000 jobs, with 27 new companies arriving in 2022 alone. The city’s economy is thriving, outperforming both Andalusian and national averages, with a projected GDP growth of 2.2% by the end of 2023.
The tech and tourism sectors are key drivers of this growth, supported by a robust real estate market. Property prices in the province have reached historic highs, reflecting the city’s growing demand and economic vitality.
Foreign Investment and Business Climate
The 6th edition of the Malaga Foreign Business Climate Barometer, published by the CIEDES Foundation and sponsored by Promalaga, highlights the city’s positive economic trajectory. In 2022, gross foreign direct investment reached €85 million, with a net flow of €3 million.
Malaga ranks second in Andalucia for foreign investment, with significant growth in turnover and employment reported by over half of the foreign companies surveyed. The city’s geographical location, quality of life, and infrastructure are key motivators for businesses to settle and expand in Malaga.
Conferences and Events
Malaga is a hub for international conferences and events, further enhancing its profile as a business and innovation centre. The Digital Enterprise Show 2024 will bring tech leaders from around the world to Malaga from June 11-13.
The city also hosts a variety of other significant events, such as the Mediterranean Real Estate Fair, the World Sailing Conference, and the Hispanic-Swiss Meeting on Urban Energy Transition.
Upcoming Events in 2024
Malaga will host several important events in 2024, including the Digital Enterprise Show, eCongress Málaga, CM MALAGA, Talent Land, and Design Week Malaga. These events will attract international attention and further solidify the city’s reputation as a leading city for innovation, business, and culture.
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