- Amazon recently announced plans to invest $17.04 billion over the next decade to expand its cloud services in Spain, as part of its recent commitment.
- The aim is to strengthen its presence in Europe at a time when there is increasing demand for cloud and data services.
- Aragon’s regional government governor, Jorge Azcon, stated that this announcement marks the largest investment by a company in the history of Aragon.
Amazon, the world’s largest e-commerce company, is investing $17.04 billion in Spain to expand its cloud business in Europe, Bloomberg reported on May 22.
Largest investment
This marks Amazon’s largest investment in Europe to date, reflecting its ambition to strengthen its foothold in Europe amidst the increasing demand for cloud and data services.
Amazon Web Services (AWS), the company’s cloud computing division, plans to execute this investment by 2033, extending its commitment beyond the $2.75 billion investment plan announced for Spain in 2021. This represents an over six-fold increase from the initial investment size.
Also read: Amazon enters into a contract with Telefónica
Continuous investment
Amazon estimates that this funding will support approximately 17,500 jobs per year in local businesses in various industries including construction, facility maintenance, engineering, and telecommunications, and is expected to contribute approximately $23.76 billion to Spain’s GDP by 2033.
Also read: Amazon pledges $1.3 billion investment into France
This announcement comes just a week after AWS announced its plan to invest $8.58 billion by 2040 to expand its cloud services within Germany.
Additionally, Amazon has announced similar long-term projects not only in Spain but also in Germany, Mexico, Singapore, the United States, and other regions, with plans to invest hundreds of billions of dollars worldwide.
Just last week, Amazon announced a $8.58 billion investment for expanding cloud services within Germany by 2040.
