1. CUSTOMS AND BUSINESS PRACTICES OF SPAIN By Amara Onuigbo

2. BACKGROUND  Capital - Madrid  Flag - National anthem – La Marcha Real  Location in relation to US- west of united states. Borders atlantic ocean to the west and the Mediterranean to the east

3. DINING CUSTOMS  Eat light breakfast or “desayuno” at about 10 am. Lunch is considered to most important meal of the day with breakfast being the least important. Spaniards usually take a break from 2 to 4 to eat lunch, which is a full course meal. Due the lunch break most Spaniards get off of work around 8pm and from there they eat a lighter version of lunch

4. SOCIAL CUSTOMS  When meeting, females kiss each other on the cheek, from left to right. Male and female acquaintances will also kiss each on the cheek as well. When being formally introduced you say, “Buenos dias senor/senora” or “Buenos tardes” and give a single pump handshake. When speaking to a business profession or an older person, it is polite to refer to them formally using “usted” instead of “tu”

5. BODY LANGUAGE AND GESTURES  Spaniards like to keep their composure so they might not necessarily let you know when they don’t understand something. Look out for any body language and facial expressions that suggest that the person you are speaking to is confused. You may see someone put their thumb together with the rest of their fingers, raise them to their lips (as if they were kissing them), and then toss their hands in the air. This is used as a sign of approval in spain

6. DRESS CODE  Dressing up is preferred in Spain. Men should wear a suit and tie when attending business meeting. Ladies should dress rather elegantly

7. BUSINESS PROTOCOL  - Making appointments are preferred. Spaniards are not expected to show up on time and it is not expected that you arrive on time either. If you know you are going to be more than 15 minutes late you should telephone and apologize. Spaniards are known to do business with those they trust, even if you switch companies. It is very important to establish a good relationship with the person you’re doing business with. They also place a lot of importance on the character of the person they do business with. Face to face contact is preferred.

8. ECONOMY  Type of economy – mixed capitalist  Economic stability - Spain has the thirteenth-largest economy by nominal GDP in the world, and sixteenth-largest by purchasing power parity. The Spanish economy is the fifth-largest in the European Union. In 2012, Spain was the eighteenth-largest exporter in the world and the sixteenth- largest importer.thirteenth-largestsixteenth-largestpurchasing power parityEuropean Unioneighteenth-largestsixteenth- largest  Major industries- tourism, automotive, and energy (wind power)

9. IMPORTS & EXPORTS  Imports: Fuels, chemicals, medical instruments, food, machinery and equipment  Exports: motor vehicles, chemicals, shipbuilding, foodstuffs, electronic devices, pharmaceuticals  Natural resources - coal, lignite, iron ore, copper, lead, zinc, uranium, tungsten, mercury

10. ECONOMY (CONT.)  Trading partners- France, Italy, Germany, Portugal, United Kingdom  GDP per capital – 1.071 trillion euro ($1.358 billion)  Money Exchange (Currency rate) - Spain's currency is the Euro, and the exchange rate is approximately €0.77= $1  Role of Government in business - In recent years, the Spanish Government has pursued policies aimed at making Spain more attractive to investors, creating a welcoming environment for foreign investment