US investments in Spain risen by 84% in the first half of 2026 versus the same period a year earlier, signaling strong investor sentiment despite ongoing tensions between the two nations.

Political tensions have lingered since 2025, centered on Spanish Prime Minister Sánchez’s position on NATO’s 5% of GDP defense spending target.

The data source is government statistics, with figures covering a six-month period and year-over-year comparisons.

Tensions intensified in 2026 after Spain blocked the US from using its military bases for strikes on Iran, drawing criticism from then-President Donald Trump.

The report notes that investment flows can diverge from political disputes, as investors keep deploying capital in Spain despite diplomatic frictions.

The US remains Spain’s top investor, underscoring the enduring importance of US-Spain economic ties.

Overall foreign investment into Spain rose 31.2% to 12.4 billion euros in the six-month period.