Business Overseas

Business Overseas Spain Geography & Location 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 Spains 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. Spains 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 its 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 Bibliography CIA. The World Factbook 1999- – Spain [on-line]: from http.//www.odci.gov/cia/publications/factbook/inde x.html Hotel Name Courtesy.

Radisson [on-line]: from http://www.radisson.com/RAD/Hotel rowse%7D+%locUni+%7B8721%7D,00.html Uria & Menendez. A Lawyers Guide to Spain [on-line]: from http://www.hg.org/guide- spainu.html Welcome to Madrid [on-line]: from http.//www.go-spain.com Business.

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