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International Finance - Spain Introduction This proposal is based on an opportunity we believe we have identified in the tourism industry and in particular in the food and drink sector in which we see great financial potential In this proposal we will set out our initial findings and suggest a plan for the coming months regarding the research and work that the investment report will require The tourism industry is in the Gran Canaria in the Canary Islands Spain In addition its a member of the European Union and Monetary Union The location is in the Atlantic Ocean off the northwest coast of Africa and at a distance of 1050 kilometres from the mainland of Europe The Canary Islands total area is approximately 7 447 km2 In addition the total population is of 1 800 000 inhabitants with the majority based in Gran Canaria and Tenerife Moreover the proposed company for investing is Nandos a South African franchise company which offers Portuguese cuisine especially chicken Government The Spanish government is a stable and operates in a democratic style therefore there is a low political risk The Canary Islands are part of the Spanish territory and the European Union Moreover all European Union policies are fully applicable to the Canary Islands Nevertheless in recognition of the special needs arising from their geographical location ultra-peripheral region a number of highly favourable exceptions in the application of European Community Law have been set up Spanish Economy The currency used is the Euro In addition the currency issues are under the control of the European Central Bank based in Frankfurt Germany During the past five years the economy has grown between 3 percent and 4 percent each year The boom has been marked by optimistic business confidence fast job creation and rising consumer demand Spain maintains few restrictions on foreign investment The Transparency Internationals 2001 score for Spain was 7 and
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