Since the 1990s some Spanish companies have gained multinational status, often expanding their activities in culturally close Latin America. Spain is the second biggest foreign investor there, after the United States. Spanish companies too have expanded into Asia, especially China. This early global expansion is a competitive vantage over its competitors and European neighbors. The reason may primarily due to the booming interest toward Spanish language and culture in Asia, but also a corporate culture that learned to take risks in unstable markets.
Spanish companies lead fields like renewable energy (Iberdrola is the world's largest renewable energy operator), technology companies like Telefónica, Abengoa, Movistar, Gamesa, Indra, train manufacturers like CAF, Talgo, petroleum companies like Repsol and infrastructure, with six of the ten biggest international construction firms specialising in transport being Spanish, like Ferrovial, Acciona, ACS, OHL and FCC.
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