The Spanish government's policy is to not request official membership. Despite being hit hard by the economic crisis after 2008, Spain is still the world's thirteenth largest economy by nominal GDP (the 5th in the European Union) and fifteenth largest by purchasing power parity, clearly exceeding the numbers of several current members of the G20 such as Argentina or South Africa. In addition, since the 1990s several Spanish companies have gained multinational status, often expanding their activities in culturally close Latin America, where Spain is the second biggest foreign investor after the United States and keeps an important influence. These facts have reinforced the idea that Spain should seek permanent membership of the G20.