Garnica Publications has recently launched the book La gran apuesta: Globalización y multinacionales españolas en América Latina (The big wager: Globalisation and Spanish multinationals in South America). This work has been coordinated under the expertise of Ramón Casilda will be one of the key texts for understanding the expansion of Spanish companies in South America.

In Spain and in particular from the start of the nineties we have witnessed a real phenomenon: the internationalisation of its companies. This triggered an investing dynamic with a high volume and level of investments that has taken the entire world by surprise, with no one being more surprised than the Latin American community itself.

The importance of Spain’s presence in Latin American economies does not only lie in the volume of investment but also in the quality of these investments that have focused on strategic areas for the development and welfare of the population such as telecommunications, the energy sector, the financial system and transport infrastructures, to name a few. In addition to generating employment and providing certain goods and services, which add to the competitiveness of other economic sectors, these investments are contributing to extend the coverage of basic services to the majority of the population, helping to improve social and territorial cohesion.

Based on this idea the image of coverage has been chosen as a way to illustrate that Spanish presence has brought about a radical change in Latin American economies making them more modern and giving them increased power in global markets.

The book includes a prologue from the Spanish Prime Minister, José Luis Rodríguez Zapatero and an introduction by the Chairman of the Centre for Economic Policy Research, Guillermo de la Dehesa. It also features contributions from top Spanish business leaders in South America, headed by; Gerardo Díaz Ferrán, Chairman of the Spanish Confederation of Business Organisations (CEOE) and concludes with the view of Chairpersons of the most important Latin American banks and regional organisations.

The big wager is an essential read for anyone who wants to understand the internationalisation process of Spanish companies in Latin America and the impact that it has had on both sides of the Atlantic.