Spain Travel Guide

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Statistics

• GDP: US$1.6 trillion (2008).
•Main imports: Machinery and equipment, fuels, chemicals, semi-finished goods and food.
• Main exports: Machinery, motor vehicles, food, pharmaceuticals and medicines.
•Main trade partners: France, Germany, Italy, UK and Portugal.

Economy

The economy was subdued until Spain joined the (then) European Community in 1986, after which it expanded rapidly, joining the European Money Union at the start of 1999 and the eurozone in 2002, until the global economic downturn of the early 21st century. This was achieved through an expanding service sector which more than compensated for decline in agricultural production. A prolonged construction boom saw it responsible for up to one in eight jobs in the country, but once the bottom fell out of this market in 2008, unemployment skyrocketed to an estimated 18% in late 2009, a year that also saw, along with other major European economies, negative GDP growth and inflation.

The agricultural sector produces cereals, vegetables, fruit, olive oil, meat and wine. The fishing fleet, although reduced, remains one of the world's largest.

Energy requirements are met by indigenous coal and natural gas, nuclear power (scheduled to be phased out), imported oil, and, increasingly, renewable energies. Spain is the world's third largest producer of wind power which, together with hydroelectric and solar power is scheduled to provide 30% of the country's needs by the end of 2010. The decline of older manufacturing industries has been offset by rapid expansion in the motor industry, chemicals, electronics, information technology and industrial design.

In the service sector, Spain is the second most-popular destination in the world and has a vast tourism industry, mainly servicing visitors from northern Europe. Financial services, transport, media and telecommunications have also undergone substantial growth.

Business Etiquette

Businesspeople are generally expected to dress smartly. English is widely spoken in the principal cities and resorts but far less so in the provinces. Some knowledge of the Spanish language is always appreciated and sometimes essential. Punctuality is important. Attitudes to such things as responding to emails, letters and phone calls can be surprisingly casual.

Office hours: Tend to vary considerably but base hours of 0900-1400 and 1700-2000 are fairly typical. Banks and government offices open only in the morning. Businesspeople are advised to check before visiting or making calls.

Business Contacts

Consejo Superior de Cámaras de Comercio
Industria y Navegación de España, Calle Ribera del Loira 12, 28042 Madrid, Spain
Tel: 915 906 900.
Website: www.camaras.org

Spain Convention Bureau (FEMP)
Calle Nuncio 8, 28005 Madrid, Spain
Tel: 9136 4 3700.
Website: www.scb.es/

Madrid Espacio y Congresos
Avda. Capital de España Madrid 7, 28042 Madrid, Spain
Tel: 917 220 400.
Website: www.madridespaciosycongresos.com

Ministerio de Industria, Turismo y Comercio
Paseo de la Castellana 160, 28046 Madrid, Spain
Tel: 9024 46006.
Website: www.comercio.es

Conferences & Conventions

Most large towns have dedicated convention centers in addition to the facilities provided by hotels. Seating capacity ranges from 540 in Jaca to 4,200 in Palma de Mallorca; Madrid can seat up to 2,650 persons.