The economic growth of our country passes, to a large extent, through the foreign trade. As shown by the foreign trade data declared by customs, Spanish exports of goods in the whole of 2022 marked a new annual all-time high and exceeded 389,000 million euros for the first time.
Likewise, the foreign sector in 2022 contributed almost half of the growth of Spanish GDP, with a contribution of 2.6 percentage points, out of a GDP increase of 5.5%.
Of the great European countries, Spanish exports are the only ones that do not lose share in world exports: its export activity shows greater dynamism than that of the European economies as a whole.
In this sense, according to the report “The Spanish economy in 2023” carried out by PwC, this is the country that increases the percentage of exports over GDP the most and the only country (along with Germany) that currently has a positive current account balance. This is a radically new fact and constitutes one of the factors from which we derive that the contribution of foreign trade to future growth will be positive.
employment improvement
In this context, foreign capital companies established in Spain present an improvement in employment in 2022. According to the results of the Business Climate Barometer in Spain, for 2023, the investment and export estimates of these companies remain significantly, although these are affected by the uncertainty of the international economic and political situation.
Along these lines, by 2023, 84% of the companies surveyed they plan increase or maintain your investments in Spain. According to Diana Filipescu, program manager of the MSc International Business at the TBS Education-Barcelona business school, “Spain has a strong and constantly growing base, willing to continue with the international recovery”.
The cultural and behavioral variables that mark good understanding in the business world. Cultural differences can become a problem within the world of international business. For this reason, the TBS Education-Barcelona business school analyzes some of the key variables for the success of a good understanding between international professionals:
- Customs and taboos. Each culture has its own customs and taboos. Among the customs we find different ways of greeting, of introducing oneself, even of eating. Also, taboos can be political, religious issues, etc. For this reason, it is key to be aware of it in order to know what is acceptable and what is not in each country.
- Language. The importance of the different languages that exist around the world is crucial for business. It is necessary to know the specific vocabulary of each country to know how to master both written and oral communications with other people. In addition, the different languages directly affect brand policies, advertising, slogans, among others.
- time consciousness. Negotiation between international managers is often influenced by the concept of time and how it is used. Depending on the culture, time is more valuable or not. There are companies that work in an orderly manner and at a constant pace, and the established dates and deadlines are prioritized. In contrast, there are businesses that, on the contrary, work intensely, at a non-constant pace and are more flexible regarding punctuality.
- Values. There are values that characterize each culture and, in the business world, it is important to take them into account in order to have a good relationship between different countries. The values of each person come from his moral or religious beliefs, and these are learned through experience.
In this context, more and more graduates understand the global framework of business. Thus, TBS Education-Barcelona offers the MSc International Business that ranks sixth in the Eduniversal 2023 Best Masters ranking, producing managers and leaders with a global mindset capable of operating globally.
With this master’s degree, students increase their understanding of global markets and various regions of the world, in addition to learning about the specific business practices of each country. The program has received the CGE quality label, an accreditation that guarantees the high quality standards of the master’s degree.
