Galician companies on the international scene: the analysis of ARDÁN 2023

The University of Vigo and the Vigo Free Trade Zone Consortium have carried out a comprehensive analysis of the internationalisation of Galician companies in the ARDÁN 2023 Economic and Competitiveness Report. This report, which covers more than 35,900 Galician companies, provides detailed insights to improve the global competitiveness of the region.

The study evaluates and scores strategic aspects, international experience, commitment of resources and results obtained by the companies, showing as one of the most outstanding aspects the existence of companies that have adopted high commitment strategies since their foundation, challenging the traditional approach of gradual internationalisation ("born global or born global companies").

In addition, there is also the emergence of "micro-multinationals", companies that exhibit multinational behavior and seek to internalise valuable resources from foreign markets. This diversity in strategic approaches adds complexity to the region's business landscape.

The analysis carried out is not only limited to the business sphere, but is also extended to examine the economic and commercial context of Galicia. Key indicators related to international trade are presented, such as exports, imports and direct investment flows. Despite the positive trade balances, it highlights the importance of adapting to the changing dynamics of international trade.

Some highlights of the report:

• As regards the percentage of international sales destination, 66.3% of sales abroad are to the EU-27, followed by non-EU-27 European countries (7.1%), South America (5.9%) and the USA and Canada (4.9%).
• Of the 226 companies that reported international activity, only 12.7% reported having received public aid for an internationalisation project.
• On average, 7.3 employees are assigned to internationalisation-related tasks.

Global competitiveness of TEIMAS in the ARDÁN 2023 report

According to this study, the trajectory of Galician companies towards global competitiveness is dynamic and complex, with an internationalisation process that involves innovative strategies and efficient resource management.

Among these organisations, companies such as TEIMAS stand out, obtaining the Global Company indicator derived from the ARDÁN 2023 Economic and Competitiveness Report, occupying eighth place in the ranking.

In the 2023 edition of the ARDÁN Report, TEIMAS has also obtained three other indicators Innovative Company, Talent Management and Circular Company.