One of the main engines of Spanish economy in the past, now tourism in this country faces fierce competition from Eastern Europe countries. The beautiful resorts in Palma del Majorca and Costa Brava must compete with low cost sea side resort, which offer similar services at incredibly low prices. Another field which needs reforms and reformulation policy is the agricultural and fishery one, which accounts only 4.1% out of GDP, although the important political forces attached to this sensible sector.
In order to be able to face the challenges and the opportunities on the regional and global market, Spain needs reforms in most fields of activity. Unemployment level is one of the highest in EU 9.2% at the end of 2005, while the rate of inflation was around 3.4 per cent in 2005, which is also higher than the EU average.
The Gross Domestic Product (GDP), computed at current prices, and PPP (purchasing power parity) for 2005 was $1.125 billion with a real growth rate of 3.4% as regards to 849.3billions in 2000. GDP per capita in 2005 was approximately $25,500. The GDP dollar estimates presented here are calculated at market or government official exchange rates. The GDP values in the national currency (Euro) show that the GDP computed for constant and current prices had the same value in 2000 (630.263 billions) while in 2005 the GDP (constant) was 735.924 billions and the GDP (current) 904.323 billions in 2005. The GDP/capita at national currency had the same value for 2000 computed for constant and current prices, 15,708.792 Euros, while in 2005 in GDP in constant prices was 17,785.003 and the one in current prices was 21,854.677. The implied PPP conversion rate was in 2000, 0.743 and in 2005, 0.818.
The social inequality has improved in the last decades, but is still at important quotas. This means that a big part of country's wealth is concentrated in the hands of a very small percentage out of the total population. These social and economic phenomena enable social tensions among different groups of individuals, but reduce on the whole the purchasing power of average individual. Also, companies may want to target the prosperous group of Spanish people with premium products at accordingly settled prices in order to rip off the benefits of the current situation.
If we discuss about the structure of the GDP, agriculture accounts for around 4% of GDP, mainly in the form of wine, olives, fruit, vegetables and rice. Industry accounts for 29.5% of GDP with the main industries being processed foods, textiles, footwear, petrochemicals, steel, automobiles, consumer goods and electronics.
Spain's fishing fleet, the largest in the EU, is another important contributor. Services make up the remaining 66.5% with retailing, tourism, banking and telecommunications all making a crucial contribution to economic activity.
Tourism is of particular importance with over 50 million visitors a year injecting some $25 billion into the economy. The purchasing power is influenced only to a small amount by the inflation rate, as in the last 5 years, due to community programs of monetary stabilization, as the inflation is around 3.4%. per annum. Even if Spain's inflation registers a moderate depreciation, it continues to be the highest among the countries adopting the EURO currency.
IV. Trade and Investment Opportunities existent on the Spanish market are considered by specialists and investors as being quite important. Due to the fact, that Spain is a member in the European Union, this thing assures the investors of the relative economic stability of the country. The main flow of investment comes from the EU countries, and is the result of Spain's struggle to attract new FDI funds in order to permit the modernization of its economy. In the 1990's it introduced new legislation to...
3). Although the Socialist Party leader was not known as anti-American, he did advocate for a stronger and more independent role for Spain in terms of its foreign policy and the world economy. Another voter was more optimistic "I think we'll see social policies such as aid for the poor, better working conditions, and better living conditions as there are not enough homes. I think there will be a general change
Spain As of late 2010, rumors in the financial community persist that Spain is going to be the next Eurozone nation to suffer an economic crisis. Spain's high unemployment rate, coupled with a lack of economic recovery and being unable to adjust interest rates due to its participation in the euro, has resulted in a rapid appreciation of interest rates in Spanish sovereign debt in recent weeks amid speculation in the
Spain Global Warming Being on the forefront of global warming, Al Gore once said, "We are facing a global climate crisis. It is deepening. We are entering a period of consequences." Global warming is the increase in the temperature of the Earth's atmosphere and bodies of water. The consequences Al Gore had mentioned were the effects brought about by the rise in sea levels, changing behaviors of precipitation, and glaciers retreating.
Spain and the Christianization of America The term "Hispanic" was recently adopted by the U.S. government as a way to describe people of Spanish-speaking descent in general and people from Latin America in particular, but it is ironic that such a term is needed at all given the historic precedence of the Spanish language in America. Indeed, since Spanish was spoken first and was widespread, it would seem more appropriate for
With this in mind communications strategy has to be developed and implemented. The central debate remains that of degree of uniformity. The pros and cons are obvious, i.e. economies of scale, consistent message across markets, centralized control, different market characteristics, media availability and costs and government regulations (Balabanis & Diamantopoulos, 2011). The stronger argument appears to be that different strategy appears to work in different situations, rather than a
Since late 2000, Venezuela has been providing oil on preferential terms, and it currently supplies about 100,000 barrels per day of petroleum products. Cuba has been paying for the oil, in part, with the services of Cuban personnel in Venezuela including some 30,000 medical professionals" (Central Intelligence Agency, 2010). Relevant numeric information: The income per capita for the average Cuban individual is of $9.700 The GDP composition by sector is of: 4.3
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