Business trip to Madrid, Spain.

• Communication:
  Use formal names, professional and academic titles. Remember that hierarchy is important
  The Spanish are not direct, they prefer subtlety to directness.
  People might interrupt you while talking. It is a sign that that person is interested in what you say.
  Dress formal and conservative.
  


• Meetings and negotiations:
  When making appointments use the 24-hour clock time format to avoid misunderstandings.
  Be very punctual, if you suspect you will late, call and explain the situation.
  Never cancel a meeting at the last minute.
  Shake hands with everyone upon arriving at the meeting and leaving.
  Remain standing until invited to sit down or others do so.
  Agenda’s are used but usually not strictly followed.
  First appointments are more socially oriented but still formal, Spaniard’s would like to know you a bit better at first.
  Keep your presentation as short as possible, to the point, accurate and precise, do not exaggerate.
  Follow up a meeting with a letter or an e-mail with all agreements outlined.
  


• Table manners:
  If unsure on how to behave, mimic the behavior of others.
  Wait until you are appointed a seat.
  Avoid alcohol if possible, otherwise drink little.
  If making a toast, stand up.
  Put a napkin on your lap, eat not too much but finish your plate.
  Keep your hands above the table when eating.
  After finishing your plate lay your knife and fork parallel on your plate with the handles to the right.
  Thank your host at the end of the meal.
  

The centre-right government of former prime minister José María Aznar had worked successfully to gain admission to the group of countries launching the euro in 1999. Unemployment stood at 7.6% in October 2006, a rate that compared favorably to many other European countries, and especially with the early 1990s when it stood at over 20%. Perennial weak points of Spain’s economy include high inflation, a large underground economy, and an education system which the Organisation for Economic Co-operation and Development reports place among the poorest for developed countries, together with the United States and UK.

However, the property dream that had begun building from 1997, fed by historically low interest rates and an immense surge in immigration, imploded in 2008, leading to a rapidly weakening economy and soaring unemployment. By the end of May 2009 unemployment had already reached 18.7% with a rate of even 37% for youths.

The Spanish economy had been credited for having avoided the virtual zero growth rate of some of its largest partners in the EU. In fact, the country’s economy had created more than half of all the new jobs in the European Union over the five years ending 2005, a process that is rapidly being reversed. The Spanish economy had been until recently regarded as one of the most dynamic within the EU, attracting significant amounts of foreign investment. During the last four decades the Spanish tourism industry has grown to become the second biggest in the world, worth approximately 40 billion Euros, about 5% of GDP, in 2006.

More recently, the Spanish economy had benefited greatly from the global real estate boom, with construction representing an astonishing 16% of GDP and 12% of employment in its final year. According to calculations by the German newspaper Die Welt, Spain had been on course to overtake countries like Germany in per capita income by 2011. However, the downside of the now defunct real estate bubble was a corresponding rise in the levels of personal debt; as prospective homeowners had struggled to meet asking prices, the average level of household debt tripled in less than a decade. This placed especially great pressure upon lower to middle income groups; by 2005 the median ratio of indebtedness to income had grown to 125%, due primarily to expensive boom time mortgages that now often exceed the value of the property.

In 2008 and 2009 the credit crunch and world recession manifested itself in Spain through a massive downturn in the property sector. Fortunately, Spain’s banks and financial services avoided the more severe problems of their counterparts in the USA and UK, due mainly to a stringently enforced conservative financial regulatory regime. The Spanish financial authorities had not forgotten the country’s own banking crisis of 1979 and an earlier real estate precipitated banking crisis of 1993. Indeed, Spain’s largest bank, Banco Santander, took part in the UK government’s bail-out of part of the UK banking sector.

According to Spain’s Finance Minister, “Spain faces its deepest recession in half a century”. Spain’s government forecasted the unemployment rate would rise to 16% in 2009, others even predicted a percentage of 20.

Product tip: There are also nice looking laptop bags on the market! A laptop bag doesn’t have to be a dull conservative black bag. There are lot’s of great looking bags on the market these days. Special laptop bags with the protection that is needed for your laptop but also with nice designs in models and materials.

Address
Madrid Barajas Airport
28042 Madrid, Spain
Telephone: +34(0)913 936 000
Fax: +34(0)913 936 204
Email: clientesmad@aena.es
www.aena.es

Airport Codes
IATA airport code: MAD
ICAO airport code: LEMD

Lost property
There are several luggage handlers on the Madrid Barajas Airport.
On this website you can find which luggage handler serves which airline.

Train
There is a direct subway connection (line 8) from T1, T2 and T3 via Mar de Cristal to the financial heart of Madrid, station Nuevos Ministerios, travel time is 12 minutes. At the station Nuevos Ministerios you can check-in for flights with Air Europa, Spanair, Alitalia and Pluna. On the website EMT Madrid (public transportation) you can find a useful map of the subway and extensive information about the bus and subway services to and from the airport.

Taxi
You can find taxis at the Arrivals Halls for T4 and T1, before Gate 2 and T2, before Baggage Hall 5. The prices are rather complicated, the price is, among other things, dependent upon the zones and the time of day. The airport surcharge amounts to €4.50 and being dropped off at a bus or train station has an extra charge of €2.40, a ride to the center of Madrid costs between €25.00 and €30.00.

Keep the following tips in mind if you need to order a taxi during your business trip to Madrid. If you pick up your cab at Madrid Barajas airport, there is an automatic supplement to pay of 5.50 Euros.

Any journey beginning from a taxi rank at a bus station, railway station or approach road to either will incur a supplement of 2.95 Euros. You will have to pay this supplement if you get your taxi from a taxi zone displaying the sign ‘supplemento autorizado’. The sign is displayed on a plaque at the taxi rank, similar to a road sign.

If you are traveling to or from Madrid’s exhibition fair site, the Parque Ferial Juan Carlos 1 (IFEMA), you will pay a supplement of 2.95 Euros.

Journeys on Christmas Eve and New Years Eve that end between 22:00 and 06:00 (Boxing Day or New Years Day) mean that you have to pay an additional 6.70 Euros. This is on top of the supplements already mentioned.

There is no supplement for luggage, pets or wheelchairs.

The charge for each kilometre in an official Madrid taxi is as follows:

• Each kilometre covered in Tariff 1 (zone A between 06:00 and 22:00): 0.98 euro
• Each kilometre covered in Tariff 2 (zone A between 22:00 and 06:00): 1.15 euro
• Each kilometre covered in Tariff 3 (zone B in night time period, and Sundays and public holidays): 1.17 euros
• Each hour at a speed below: 19 Km/h for Tariff 1; less than 15 Km/h for Tariff 2; less than 13 Km/h for Tariff 3): 18.35 euros.

The official Madrid taxi is white with a red diagonal stripe across the front door, and if the taxi is free it will display a green light on the roof. The ‘fare’ number of either 1 or 2 will be shown next to this light.

BOTIN
Said to be the oldest restaurant in the city, Botín first opened its doors below the Plaza Mayor in 1725, and has been keeping business people happy ever since. The wonderful old dining rooms retain the original painted tiles, oak beams and wood-burning oven. Traditional Castilian dishes are the speciality here - the roast suckling pig and the tender Aranda lamb are delicious. Reservations are strongly advised, as it is very popular.
Calle Cuchilleros 17
Tel: +34 91 366 4217
www.casabotin.com (Only in Spanish)

LAS CUEVAS DE LUIS CANDELAS
While many of the eating places around Plaza Mayor are tourist orientated and overpriced, Las Cuevas offers better value in a brick-vaulted cellar with tiled bar, wall paintings, wrought iron fittings and an open fire for the suckling pig speciality. This bar-restaurant offers a typical range of tapas, as well as substantial main courses. Specialities include merluza (hake) and shrimps in garlic or cheese.
Arco de Cuchilleros 1
Tel: 91 366 5428.
www.lascuevasdeluiscandelas.com

TECH MEZKLUM
Part of the pan-European craze for minimalist décor and culinary creativity this stylish new haunt has quickly attracted the attention of the local cognoscenti. Expect lots of contrasting flavours and unusual combinations, with creations such as a ’salmon hamburger’. If you are on a business trip to Madrid, this is a great restaurant for entertaining your hosts.
Calle Príncipe, 16
28012 Madrid, Spain.
Tel: +34 915 21 89 11
Fax: +34 915 22 86 65
www.mezklum.com (Only in Spanish)

Hotel Ritz
Boasting a privileged location in the elegant "Retiro" district, and lying between two hugely important Madrilenian museums; the Prado and Museum Thyssen, this hotel is an oasis of tranquility and architectural splendor. The hotel is a magnificent example of the Belle Epoque style, with individually decorated rooms, an outstanding kitchen and an impeccable standard of service. For these reasons it has firmly won its place among the best 10 hotels in the world, and is frequented by European royalty. Magnificent function lounges are available for the celebration of events, alongside the excellent gastronomic offering at the renowned Restaurant Goya.
Plaza de la Lealtad, 5
28014 Madrid, Spain
Tel.: +34 91 7016767
More info on Hotel Ritz Madrid

The Westin Palace
The 466 rooms and suites within the Westin Palace Hotel Madrid are stylishly decorated and feature the hotel’s signature bedding and linens, as well as cable TV, daily press, luxury toiletries, Internet access, direct dial phones with voice-mail service, full-sized work desks, personal safes, and much more. The Westin is a perfect base for business travelers.
Plaza de las Cortes, 7
28014 Madrid, Spain
Tel.: +34 91 3608000
More info about The Westin Palace Hotel

Hotel Husa Princesa
The 275 rooms in the Husa Princesa Hotel Madrid are all outfitted with satellite television, wireless Internet access, luxury bathrooms and many other amenities. Ideally situated for leisure and business travelers alike is the Husa Princesa Hotel Madrid. It is convenient to the main business center of the city which is very convenient during a busy business trip.
Princesa 40
28008 Madrid, Spain
Tel: +34 91 542 2100
Fax: +34 91 542 3501
More info about Husa Princesa Hotel Madrid

More unusual shops include: Mesquida, Calle Mayor 22, for religious and devotional objects, including crib pieces; the Spanish guitar specialist, Manuel Gonzales Contreras, with the store at Calle de la Paz 8, and the workshop at Calle General Margallo 10; El Flamenco Vive, Calle Conde de Lemos 7, which sells sheet music, videos and CDs as well as colourful costumes and accessories; and Seseña, Calle Cruz 23, makers of traditional Spanish capes.

The most convenient area for tourists is around Calle de Preciados, between Sol and Gran Vía, home to El Corte Inglés department store, and high-street names like Zara, Gran Vía 32, and Casa Jiménez, Calle de Preciados 42, famed throughout Spain for its mantones and mantillas (lace and embroidered shawls). This is a great gift for your loved ones when your return from a business trip to Madrid.

Madrid’s shops are generally open from 0930/1000 to 1330/1400 and 1630/1700 to 2030/2100, with major stores open throughout the lunch hours.

The royal palace and royal armory
Home to the Kings of Spain from Carlos III all the way through to Alfonso XIII, Madrid´s Royal Palace is now open to anyone who wants to take a trip through Spanish history. Visitors can wander through the many rooms, enjoying the beautiful architecture and the art collection still housed here. Though it is no longer the current royal family´s home, it is still their official residence and the place where public acts and official ceremonies are held.
The Royal Palace has luxurious surroundings - laid out to the west of the Palace on grounds that slope down towards the Manzanares River is the Campo del Moro, an area used for festivals and tournaments during the Middle Ages. Felipe V originally transformed the space into a hunting ground, planting trees and installing fountains, but Queen María Cristina subsequently converted it into a 19th century English-style garden with a romantic natural theme, introducing small woodlands and paths and creating the distinctive Tritones and Palacio de las Conchas fountains.
Bailén s/n, Madrid - Metro: Ópera (L2 and L5)

Museo del Prado (Prado Museum)
If you have some time to spare during your business trip to Madrid, visit Museo del Prado!
The Prado Museum (founded in 1819) is among Europe’s greatest art galleries. Within its 4,000-strong collection of 16th- to early 19th-century paintings, are masterpieces by Angelico, Botticelli, Titian, Rembrandt and Velázquez, as well as evidence of the astonishing development of Goya - from his sun-soaked early paintings of dances and festivities to the grim madness of his black period.
Paseo del Prado s/n, Madrid, Tel: 91 330 2900, Opening hours: Tues-Sun 0900-1200. Closed Mon., Admission charge; free on Sunday

Plaza de Espana
At Plaza de Espana starts Gran Via. It’s a pretty place with some fountains and a great meeting place.

The 112 service is in Spanish, but in tourist areas is also offered in English, French and German.

Only 5% of those over the age of 25 have an advanced level of English. So be sure to know if you need an interpreter.

Also some Spanish phrases can always come in hand....

How are you?	¿Cómo está usted?
I’m fine, thanks. And you?	Bien gracias, ¿y usted?
What’s your name?	¿Cómo se llama Usted?
My name is ...	Mi nombre es ...
Pleased to meet you	Mucho gusto Encantado
Good morning	Buenos días
Good afternoon/evening	Buenas tardes
Good night/evening	Buenas noches
Goodbye	Adiós
Cheers/Good health!	¡Salud!
Bon appetit	¡Buen apetito!
I don’t understand	No comprendo
Please write it down	¿Puede escribirlo, por favor?
How do you say ... in Spanish?	¿Cómo se dice ... en español?
Excuse me	¡Perdone!
How much is this?	¿Cuánto cuesta esto?
Thank you	Muchas gracias
You’re welcome	De nada
Where’s the toilet?	¿Dónde están los sanitarios?
Yes / No	Sí / ¡no!