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Business Business Profile In business terms, Barcelona is on the up and up. Over the last decade, the city has fully utilised its potential as the gateway between Iberia and the rest of Western Europe – a theme that Barcelona is pushing more than ever in the new millennium. The city is now re-establishing its role as a major Mediterranean port that can compete with the likes of Marseilles and Genoa, thanks in part to the recent Spanish Ports Law, which gave more independent control to the Autoritat Portuāria de Barcelona. Barcelona is one of the largest industrial centres of Spain, with a strong background in manufacturing based on textiles and a large motor industry – Nissan and Seat have vehicle production plants in the city. Consumer electronics and chemical and pharmaceutical research are other major industrial sectors and the city is also strong in design, publishing and advertising. Although Barcelona has a stock market and a bond derivatives market it has failed to emerge as a major financial or banking centre to rival Madrid. It is, however, the country’s major convention and trade fair centre, with impressive facilities including Montjuīc 1 and 2, Avenida Reina M.Crisina (tel: (93) 233 2000; fax: (93) 233 2001), which catered for over 2.24 million visitors in 2000, as well as the state-of-the-art World Trade Center (tel: (93) 508 8000; fax: (93) 508 8010) at Port Vell. The coming of the Olympic Games in 1992 was a pivotal event in business terms, as it provided the impetus and investment necessary to improve the infrastructure of the city through 8 billion Dollars of investment. The Games’ massive marketing project successfully promoted the city as an efficient, business-like centre and initiated a massive surge of investment in the hotel and tourism sector. In 1998 alone, a quarter of all foreign investment in Spain flowed into Barcelona. The city’s economy has been steadily growing over the past decade, reflected in an Arthur Andersen study for Fortune magazine in 2000, which ranked Barcelona’s economic progress third among cities of the world. Today, around 45% of all foreign visitors come to Barcelona on business. The number of tourists visiting the city has risen too, from 1.7 million in 1990 to over 3.1 million in 2001. Barcelona’s unemployment rate, standing at 6% in 2000, is considerably lower than Spain’s unemployment rate, which rose from around 9% in 2000 to 12.9% in 2002. The Barcelona Chamber of Commerce is located at Avenida Diagonal (tel: (902) 448 448; website: www.cambrabcn.es). Business Etiquette The business community in Barcelona is used to hosting foreign visitors and many international business people speak English or French. Catalan is used in a business setting among native speakers, otherwise Castilian Spanish is used. Business hours are generally 0800 or 0900 until 1800 or 1900, with an extended lunch break between 1330 and 1500 or 1600. These hours may vary depending on the size and type of organisation. Punctuality is important. Formal wear is the norm and both men and women should wear a suit for business meetings – men should also wear a tie. Business cards should be exchanged after introduction. All Spaniards have two family names – only the first is used in conversation but any academic or professional titles should be acknowledged. Invites to homes are not common and clients or business associates tend to be invited out, usually to pre-dinner drinks and tapas or to dinner. |
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