In business terms,
Barcelona is going from strenght to strength. 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
has re-established itself as a major Mediterranean port
that can compete with the likes of Marseilles and Genoa, thanks
in part to the Spanish Ports Law, which has given more independent
control to the Autoritat Portuària de Barcelona.
Barcelona is one of the largest industrial centres in Spain, with
a strong background in manufacturing based on textiles and a large
motor industry, Nissan and Seat
have vehicle production plants in Barcelona. Along with the port,
these are the main employers in the city. Consumer electronics and
chemical and pharmaceutical research are other major industrial
sectors and Barcelona 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.
Barcelona is one of the country’s major convention and trade
fair centres, with impressive facilities including Montjuïc
1 and 2, Avenida Reina M.Crisina (telephone number: (93)
233 2000; fax number: (93) 233 2001), which catered for nearly two
million visitors in 2002, as well as the state-of-the-art World
Trade Center (telephone number: (93) 508 8000; fax number:
(93) 508 8010) at Port Vell.
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 Barcelona through eight 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 the 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 per cent
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 3.3 million in 2002. Barcelona’s unemployment
rate, standing at 6 per cent in 2000, is considerably lower than
Spain’s unemployment rate, which rose from around 9 per cent
in 2000 to 12.9 per cent in 2002.
Eixample
is the main business district, with Avenida Diagonal at the very
heart of Barcelona’s business life. The Barcelona
Chamber of Commerce is located here (telephone number: (902)
448 448).
Business Etiquette
The business community in Barcelona is accustomed to hosting foreign
visitors and many international business people speak some English
or French. Catalan is used in a business setting
among native speakers, otherwise Castilian Spanish is used.
Business hours
Generally 0800 hrs or 0900 hrs until 1800 hrs or 1900
hrs, with an extended lunch break between 1330 hrs and 1500 hrs
or 1600 hrs. 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 and men should also wear a tie. Business cards
should be exchanged after introduction. All Spaniards have two family
names and only the first is used in conversation but any academic
or professional titles should be acknowledged.
Invites to homes are not common and business associates tend instead
to be invited out, usually to pre-dinner drinks and tapas or to
dinner. |
