La Fura Roja will be taking on Oceania champions New Zealand in the competition's second game on Sunday.
Spain are enjoying an impressive 32-match unbeaten run, and goalkeeper Iker Casillas is convinced that such record proves how strong his nation are.
"I believe we are one of the favourites, we have been working together now for two years as a team," said the Real Madrid guardian.
"We are getting further in competitions, Historically, Spain has suffered at the hands of big national teams, but now it is our turn to improve and reach the finals of the big competitions."
Casillas' coach Vicente Del Bosque echoed his keeper's optimism. However, the ex-Real tactician is convinced that New Zealand will be no pushovers.
The Kiwis proved their worth in a friendly against Italy last week, where they lost 4-3 to the world champions.
"I saw the game against Italy and we saw what New Zealand are really all about," he said.
"They are an organised team, very good at set-plays, and if you don't respect the opposing team you could slip up."
Apart from Andres Iniesta and Marcos Senna, who were pulled out of the Spain squad due to injury, Del Bosque has a full team to pick from under his disposal.
In their absence, Del Bosque is likely to field David Villa alongside Fernando Torres upfront with Cesc Fabregas, Xavi, Xavi Alonso and Davis Silva behind them.
The formidable backline of Joan Capdevilla, Carlos Marchena, Sergio Ramos and Carles Puyol are set to take their place in front of Casillas.
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