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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. The city has a strong background in manufacturing based on textiles and the 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. Two potential areas of concern are rising inflation (over 4% in September 2000) and scandal over misappropriation of EU development funds that broke in late 2000

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 centre with impressive facilities like Montjuīc 1 and 2, Avenida Reina M.Crisina (tel: (93) 233 2000; fax: (93) 233 2001), already catering for the 272,000 delegates that came to Barcelona in 1999. These facilities will be complemented by the Catalan Conference Centre, which opens in March 2001, and the state-of-the-art World Trade Center at Port Vell.

In 1998, a quarter of all foreign investment in Spain flowed into Barcelona with around 50% of all foreign visitors to Barcelona arriving on business. As with tourism, 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. The number of tourists visiting the city rose from 1.7 million in 1990 to over 3 million in 1999. The Barcelona Chamber of Commerce is at Avenida Diagonal (tel: (93) 416 9300; fax: (93) 416 9301; 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.



Copyright Š 2001 Columbus Publishing
    
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