The Business Climate and Market of Spain

Essay by sgtmoscaUniversity, Master'sB+, March 2004

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Spain is a country that is very rich in culture as it is business. I will discuss interesting facts about Spain and business aspects such as its major industries, trading partners, exports, imports and resources that impact Spain's business climate. You will find that Spain is rapidly growing in many ways from the global market to every aspect of its economy.

Spanish Facts

Spain occupies the majority of the Iberian Peninsula. The country is bordered to the North by France, Portugal to the east and the Atlantic Ocean and Mediterranean Sea to the west and south. This location has made Spain an important historical, religious, cultural and linguistic contact zone where Europe and Africa have met and coexisted, often uneasily. Spain is one of the world's top tourist destinations, attracting 45 million visitors per year. Spain's population is approximately 40 million. The size of Spain is about 504,782 km. Spain's capital lies in the center of the country and is named Madrid.

The official language of Spain is Castilian Spanish (74%). There are other languages spoken in Spain, some of which are Catalan (17%), Galician (7%) and Basque (29%). Although there are diverse types of Spanish, the people of Spain share the same values and culture. The dominant religion in Spain is Roman Catholic (99%), which enforces strict rules that pertain to attire, public presentation and etiquette.

Spain's Economy

The Spanish economy benefited considerably from Spain's induction into the European Union, other countries that are members of the European Union are France, Germany, Italy and the United Kingdom. Since Spain's induction, their economy has undergone a remarkable transformation from a relatively poor economy, to the eighth largest industrialized economy in Europe. In 2001, the Spanish economy was valued at $582 billion US dollars, some 62 per cent larger than the...