Nuances of Business in Spain – Tyler Baldwin

Doing business in Spain is very different from doing business in the United States. Not only are the business environment and economics completely different, but the residents in Spain are wired differently than Americans. Regarding the business environment, Spain places much less emphasis on maximized efficiency by any means possible. Businesses in Spain allow their employees to have a much better work-life balance than we do in the United States. On average, Spaniards work much less hours than we Americans do. In addition to this, there is a foreign concept known as “siesta” that Spaniards implement in their society. Siesta is a time period in the middle of the day when businesses take a pause for a while and people have time to relax and enjoy a time of peace. Regarding economics, Spain has a completely system than the United States because they are a part of the European Union. Within the EU, member states share a common currency and follow the monetary policy of the European Central bank. In America, we have our own currency and our own central bank known as the Fed. Lastly, another nuance in business comes from the way people are wired in Spain. Rather than living to work like we do in America, Spaniards work to live. What this means is that, for the most part, they only work to provide themselves and their families with what they need to have the life they want. They don’t go above and beyond by trying to make the most possible money they can. Also, Spaniards are comfortable living a less luxurious life compared to us Americans.