S P A I N

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S P A I N

• Sofia Galaz Erkin Ayupov

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Introduction

• Leading country of Europe
• A member of the EU
• Great history and background
• Magnificent art, sculpture and paintings
• Good trade and economy

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Geographical Settings

• Surface area 314,402 sq.miles
• Borders with France Andorra and Portugal
• Washed by Mediterranean Sea, Bay of Biscay and
  North Atlantic Ocean
• Climate Dry Spain and Rainy Spain

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Population and Society

• Population - 40,077,100
• Population growth rate 0.1
• Life expectancy
• Female 82.8
• Male 75.6
• Ethnic groups Catalans, Basques and Gitanos

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Language

• Castilian 74 Official Spanish language
• Others
• Catalan - 17 (Cataluna Islas Baleares)
• Gallego - 7 (Galicia)
• Valenciano 1 (Communidad Valenciana)
• Euskera 1 (Pais Vasco Navarra)

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Education

• Basic education is compulsory and free of charge
• Education enforced until age 16
• All students take vocational training before
  graduating school
• Religion is taught in school but is voluntary
• A University entrance examination required before
  attending a University

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Literacy Rate

• World Fact Book

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Family and Customs

• Close-knit family structure, most families live
  close to each other
• Most young Spaniards live at home until they
  marry in their mid-twenties
• Families constitute a social and economic support
  system
• Role of men work. Role of women home and
  child care.
• Role of women is in transition in todays world

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Entertainment Leisure

• Sport
• Soccer
• Corridas
• Bullfights by Toreros
• Theater Art
• Dances
• Flamenco (typical dance)
• Salsa Merengue

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Religion

• Roman Catholics 94
• Islam 3
• Jews 1
• Other 2
• World Fact Book

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Type of Government

• Parliamentary monarchy
• Branches of government
• Executive
• Prime minister
• Legislative
• Congress of Deputies
• Senate
• Judiciary
• General Council of Judiciary Power

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Business Specifics

• Low mobility in business risky to move
• Intimacy and unity in work place
• Close relationships with coworkers
• Office hours 900-200 and 400-700
• Lunch break very important social/family time

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• Punctuality is not a concern for Spaniards, in
  contrast to other European countries and the US.
  Americans live to work Spaniards work to live
• Business language Spanish. For foreign
  visitors English is also spoken
• Dress code is formal- dark suit for men, suit or
  formal skirt for women
• Business contexts, strong eye contact and close
  distance between each other is customary

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Human Development Index

• Human Development Report 2001

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Economy Overview

• Type mixed capitalist economy
• GDP 828 billion
• Inflation rate 3.7
• Unemployment rate 11.3
• Budget
• Revenues 105 billion
• Expenditures - 109 billion

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Sectors of Economy

• Agriculture
• Wine Grape
• Olive
• Services
• Tourism
• Industry
• Auto industry
• Iron and Steel industry
• Wine and Olive oil production

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GDP COMPOSITION BY SECTOR

• Agriculture 4
• Industry 31
• Services 65
• World Fact Book

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Imports

• Imports expenditures 156.6 billion
• Import commodities
• Machinery and equipment
• Fuels
• Chemicals
• Import partners
• EU 63
• OPEC 7.3
• USA 4.7
• Japan 2.5
• Latin America 4.2

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Exports

• Export revenues 122.2 billion
• Export commodities
• Machinery
• Wine
• Olive oil
• Export Partners
• EU 71.3
• Latin America 6.1
• USA 4.6

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Monetary system

• National Currency
• Peseta
• Euro
• 1 Euro 1.08USD
• Bank of Spain
• vs.
• ECB

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Exchange RateGeo Investors.com
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Conclusion

• The membership of EU
• Acceptance of Euro as a national currency
• Similarities with the USA
• Advantages in a business environment
• Risks
• The ease of conducting business