Spanish multinationals face an uncertain future

Publication date:
Lourdes Casanova, Senior Lecturer and Director, Institute of Emerging Markets Cornell S. C. Johnson College of Business, Cornell University

In this second wave of the pandemic, the data in the media remind us that the tragedy remains unresolved. Forecasts of economic crisis worry and affect citizens. But how have the large Spanish companies that bet on globalisation been affected? Specifically, those companies that were nourished by and contributed to the economic boom that drove Spain’s transition from an underdeveloped country to one with a per capita domestic product at similar and sometimes higher levels than the European average. But first we should ask what made that great business success possible?