The Kingdom of Spain is a transcontinental country, member of the European Union. It is located to the south of Western Europe as well as to the north of Africa. Its territory is organized in seventeen autonomous communities and two autonomous cities, with diverse geography and cultures. In Europe, it occupies most of the Iberian peninsula, known as peninsular Spain, and the archipelago of the Balearic Islands (in the western Mediterranean sea), and two autonomous cities (Ceuta, Melilla) and an autonomous region (Canary Islands) in Africa. The peninsular territory shares land borders with France and Andorra to the north, Portugal to the west and the British territory of Gibraltar to the south. In its African territories, it shares land and sea borders with Morocco.
It is inhabited by 46 million people. Its capital and most populated city is Madrid, with over 3.1 million inhabitants. Other important cities include Barcelona (1.6 m), Valencia (800,000) and Sevilla (700,000). Its official language is Spanish, along with four co-official regional languages, Catalan/Valencian, Basque, Galician and Aranese. Its official currency is the Euro (EUR).
The Spanish economy is the thirteenth largest worldwide by nominal GDP and the sixteenth by Purchasing Power Parity. Its main economic sector are services, with a large commerce sector and being a global tourist power and the third most visited country in the world, with 75.3 million tourists in 2016, and the second in income from tourism. The country has also a large financial sector, with two Spanish banks among the top thirty worldwide by market capitalization.
Regarding primary sector, its main crops are of wheat, barley, sugar beet, corn, potatoes, rye, oats, rice, tomatoes and onions. The country also has extensive vineyards and orchards of citrus and olive trees, being a large producer of oranges, wine and olive oil. Its main livestock is porcine, sheep and cow. Fishing also has a relative importance with sardines, hake and whiting, cod, anchovy, tuna, shrimp, squid, octopus and mussel.
Its main industrial sectors are textiles, steelworks, motor vehicles, chemical products, petroleum refining, cement, food, beverages and transport material, with special importance of the automotive and the aeronautical industries. The energy sector is highly dependent on imports, although Spain is world leader in wind power.
Flag Theory is a strategic internationalization process aimed at diversifying your life, personal finances and business to find more freedom, privacy and increase your wealth. Here, you can read on why and how to get residency and citizenship in Spain, business and investment opportunities, set up a company and banking options in this European country.