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About Spain

     Spain (Spanish: España (help·info), IPA: [es'paɲa]), is a Western European country. The country consists of Peninsular Spain which is located between the Mediterranean Sea and the Atlantic Ocean, two archipelagos, one in each sea, and two autonomous cities in North Africa.

     The Spanish mainland is bordered by the Mediterranean Sea to the south and east, by the Cantabric Sea that includes the Bay of Biscay to the north, and by the Atlantic Ocean and Portugal to the west. Spanish territory also includes the Balearic Islands in the Mediterranean and the Canary Islands off the African coast. It shares land borders with Portugal, France, Andorra, the British colony of Gibraltar, and Morocco. It is the largest of the three sovereign states that make up the Iberian Peninsula — the others being Portugal and Andorra. With an area of 504,030 km², Spain is the second largest country in Western Europe (behind France).

     Spain is a constitutional monarchy organised as a parliamentary democracy, and has been a member of the European Union since 1986. It is a developed country with the ninth largest economy in the world and fifth largest in the EU.

     Spain has a very ancient and complex prehistory. Under the Roman empire Hispania flourished and became one of the empire's most important regions. During the early Middle Ages it came under Germanic rule. Later, nearly the entire peninsula came under Muslim rulers. Through a long process Christian kingdoms in the north gradually rolled back Muslim rule, which was finally extinguished in 1492. That year Columbus reached the Americas, the beginnings of the first global empire. Spain became the strongest kingdom in Europe in the sixteenth and first half of the seventeenth centuries but continued wars and other problems eventually led to a diminished status. In the middle decades of the twentieth century it came under a dictatorship, under which it went through many years of stagnation and then a spectacular economic revival. In 1986 it joined the European Union and has experienced an economic and cultural renaissance.

About Canary Islands

     The Canary Islands IPA: /kəˈnæriː ˈaɪləndz/ (Spanish Islas Canarias IPA: [ˈislas kaˈnarjas]) (28° 06'N, 15° 24'W) are an archipelago of the Kingdom of Spain consisting of seven islands of volcanic origin in the Atlantic Ocean. They are located off the north-western coast of Africa (Morocco and the Western Sahara). They form an autonomous community of Spain. The Canary Islands were formed by the Canary hotspot.

    The economy is based primarily on tourism, which makes up 32% of the GDP. The Canaries receive about 10 million tourists per year. Construction makes up nearly 20% of the GDP and tropical agriculture, primarily bananas and tobacco, are grown for export to Europe and the Americas. Ecologists are concerned that the resources, especially in the more arid islands, are being overexploited but there are still many agricultural resources like tomatoes, potatoes, onions, cochineal, sugarcane, grapes, vines, dates, oranges, lemons, figs, wheat, barley, corn, apricots, peaches and almonds.

     The economy is € 25 billion (2001 GDP figures). The islands experienced continuous growth during a 20 year period, up until 2001, at a rate of approximately 5% annually. This growth was fueled mainly by huge amounts of Foreign Direct Investment, mostly to develop tourism real estate (hotels and apartments), and European Funds (near 11 billion euro in the period from 2000 to 2007), since the Canary Islands are labelled Region Objective 1 (eligible for euro structural funds).

     The combination of high mountains, proximity to Europe, and clean air has made the Roque de los Muchachos peak (on La Palma island) a leading location for telescopes like the Grantecan.

     The islands are outside the European Union customs territory and VAT area, though politically within the EU. Instead of VAT there is a local Sales Tax (IGIC) which has a general rate of 4.5%, an increased tax rate of 12%, a reduced tax rate of 2% and a zero tax rate for certain basic need products and services (eg telecommunications) The ISO 3166-1 α-2 code IC is reserved for representing them in customs affairs. Goods subject to Spanish customs and excise duties and Value Added Tax (VAT), such as tobacco or electronic goods, are therefore significantly cheaper in the Canaries. Spanish magazines usually have a similar or higher price than in the peninsula since VAT is substituted with air transport costs. The islands' country calling code is (+34) and the Internet country code is the same as Spain's (.es). The currency is the euro.

     Canarian time is Western European Time (WET) (or GMT; in summer one hour ahead of GMT). So Canarian time is one hour behind that of mainland Spain and the same as that of the UK, Portugal and Ireland all year round.