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Amazon’s AWS Commits €15.7 Billion Spanish Investment

Analyst Team trader
Updated 22 May 2024

Amazon has announced a significant investment in Spain, amounting to €15.7 billion (about $17 billion), to expand its cloud computing infrastructure through its subsidiary, AWS (Amazon Web Services). This substantial injection of funds will be directed towards building data centres in the country, affirming AWS's commitment to developing its technological footprint in the region.

The expansive project will not only bolster Spain's digital capabilities but is expected to have a positive ripple effect on the local economy. According to estimates, approximately 17,500 jobs will be generated for local businesses on an annual average. This is a substantial contribution to the job market, demonstrating the far-reaching impact of such a technological investment.


Further economic benefits are forecasted, with AWS's investment projected to contribute an estimated €21.6 billion to Spain’s gross domestic product (GDP) by 2033. This prediction underscores the transformative potential the investment holds for Spain’s economic growth over the next decade.

Initially, AWS had earmarked €2.5 billion for investments in the country. However, the announcement represents a significant increase from the original plans, showcasing a more profound confidence and commitment to Spain's potential as a technology hub.

A significant portion of the economic and employment benefits will be localized in Aragón, Spain. Notably, 40% of the estimated 6,800 jobs will be based in this region. Moreover, over half (€12.9 billion) of the anticipated GDP contribution from this project is expected to come from Aragón, highlighting its strategic importance to AWS's expansion plans.

Another exceptional feature of the new AWS cloud infrastructure is its commitment to sustainability. The data centers in Spain are planned to be powered entirely by renewable energy sources, aligning with global efforts to reduce carbon footprints and combat climate change.

The deployment of the €15.7 billion will be dispersed over a period of 10 years, ensuring a sustained and stable investment flow into the region's economy. This steady infusion of funds showcases a dedicated long-term strategy by AWS, promising ongoing development and maintenance of the infrastructure.

The Government of Aragón has lauded the initiative, describing it as “the largest technology investment in Spain and Southern Europe.” This statement reflects the scale and significance of AWS's decision to deepen its roots in Spain.

AWS's expansion in Spain dovetails earlier announcements of comparable investments in Germany and France. These moves represent a concerted effort by AWS to enhance its cloud computing infrastructure across Europe significantly, signaling strong confidence in the regional markets and a vision for prolonged innovation and growth.

NASDAQ: AMZN shares trade up 0.93% today.

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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.