Business In Spain
Spain is the second largest country in the
EU. The territory of Spain covers
most of the Iberian Peninsula; which it
shares with Portugal and also includes
the Balearic Islands in the
Mediterranean, the Canary Islands in the Atlantic
Ocean, and the North
African cities of Ceuta and Melilla. In the north it is
bordered by the
Cantabrian Sea, France and Andorra; in the east and south-east
by the
Mediterranean; in the south by the Straits of Gibraltar; in the
south-east by
the Atlantic; in the west by Portugal and in the north-east by
the
Atlantic. Climate The temperate in Spain is clear, hot summers in the
interior,
more moderate and cloudy along the coast, cloudy, cold winters in
the interior,
partly cloudy and cool along the coast. Terrain The terrain of
Spain described
as large, flat to dissected plateau surrounded by rugged
hills; Pyrenees in the
north. Natural hazards Periodic droughts Time Zones
Spain is one hour ahead of
London time, with the exception of the Canary
Island, which is in the same time
zone as London. Language Castilian Spanish
74%, Catalan 17%, Galician 7%, Basque
2% Spanish is the official
language, which is used along with other official
regional languages, such as
Catalan, Basque, Galician and Valencian in their
respective autonomous
communities. English is the main foreign language studied
at school.
Population 39,167,744 (July 1999 est.) Age structure 0-14 years: 15%
(male
3,012,907; female 2,835,455) 15-64 years: 68% (male 13,411,046;
female
13,406,216) 65 years and over: 17% (male 2,702,654; female
3,799,468) (1999
est.) Currency 1 peseta (Pta) = 100 centimos Economic System
Spain is very
dynamic country and has achieved high economic growth rates
surpassing the
average of other industrialized countries. Sixty million
tourists visit the
country each year. International organizations recognize
and endorse the
improvement in the Spanish economy, as the country shows a
projected GDP growth
of 3.7 percent for 1998. The operations in the Spanish
financial system can be
classified as follows: The Bank of Spain, :Banco de
Espana," is the central
issuing bank. It implements the monetary and exchange
policy set forth by the
Government and provides payment services with
respect to the national debt.
Around 50 foreign banks have offices in
Spain. Stock market There are four stock
exchanges in Spin; the largest is
Madrid and the others are located in
Barcelona, Valencia and Bilbao. The
Spanish stock exchanges are characterized
over the long run by strong steady
growth in share price. Money Market The money
market is based fundamentally
on the issuance of short-term securities by the
Bank of Spain, which are
taken up by banks, finance companies and money market
operators that place a
portion of them with individuals and corporations with
cash surpluses for
short-term investment. In a broader sense, the money market
also covers
inter-bank deposits. Interest rates on such deposits are as a
benchmark for
other transactions and trading in short-term corparate securities
(although
these are dealt with through stock exchanges). The money market has
become
increasingly important as a result of the liberalization and
greater
flexibility of the Spanish financial system. This is evident from the
fact that
interest rates are ordinarily higher than the inflation rate and
from the
substantial volume of trading in money market securities. The
Government debt
market is important in Spain and used by both resident and
foreign investors.
Favorable tax arrangements for investments by
non-residents in these securities
make this market attractive. Transportation
Railways: total 15,079 km Highways:
total 346,858 km Paved: 343,389 km
Unpaved: 3,469 km Waterways: 1,045 km Ports
and harbors: Aviles, Barceluna,
Bilbao, Cadiz, Cartagena, Castellon de la Plana,
Ceuta, Huelua, La
Coruna, Las Palmas (Canary Islands), Malaga, Melilla, Pasajes,
Gijon,
Santa Cruz de Tenerif (Canry Islands), Santander, Tarragona,
Valencia,
Vigo Airports 99 (1998 est.) Political System Spain’s
government type is
parliamentary monarchy. Spain has three different levels
of government,
municipal governments, autonomous communities, and the central
government.
Spaniards can boast of having one of the best lifestyles in
Europe or for that
matter, in the world. It is the sunniest country in Europe
and its climate is
ranked among the healthiest in the world according to the
World Health
Organization. Spain’s excellent quality of life has been
widely recognized by
the media, and in particular a recent study by The
Economist ranked Spain as
third in the world in terms of social, political,
cultural, and economic
factors. Over four thousand kilometers of beaches,
abundant sport and social
opportunities are combined with a diverse cultural
heritage painted by the
Celts, Romans, and Arabs. Spain is a very dynamic
country and has achieved high
economic growth rates surpassing the average of
other industrialized countries.
Spain has a domestic market of 40 million
people with an estimated income per
capital for 1996 of more than $14,000 and
an additional injection of capital
coming from the more than 60 million
tourists who visit the country each year.
Close economic, political, and
cultural ties with Latin America and North Africa
makes Spain an ideal bridge
to those countries. Radisson has gone international;
there are locations in
France, Italy and Portugal. This proposal and research
paper is to locate a
Radisson hotel to the capital of Spain, Madrid. The
following is research
information regarding Madrid and why it’s such a great
location. The Radisson
hotels are one of the most affordable hotels that also
offer the benefits of
luxury. That is why I chose this particular hotel. I also
picked the country
Spain and the capital Madrid because of all the
information
above.
Bibliography
The World Factbook 1999- -
Spain [on-line]: from
http.//www.odci.gov/cia/publications/factbook/index.html
Hotel Name
Courtesy. Radisson [on-line]: from
http://www.radisson.com/RAD/Hotel
_...rowse%7D+%locUni+%7B8721%7D,00.html
Uria & Menendez. A Lawyer’s Guide
to Spain [on-line]: from
http://www.hg.org/guide- spainu.html Welcome to Madrid
[on-line]: from
http.//www.go-spain.com