Regional Overview of Western Europe

612 WordsSep 22, 20153 Pages
Regional Overview The region of Western Europe is known for the Cold War and a long history of conflict between European countries. As opposed to now, that is known as EU (European Union) which is an economic and political union between 28 European states. The population of the Western European market consist on different countries, from the United Kingdom and Germany, but the full picture also includes Austria, Belgium, France, Italy, Spain, Portugal, the Netherlands, Switzerland and Scandinavia, which consists of Sweden, Norway, Denmark and Finland, (va-interactive.com, 2012). The region is known by having developed high quality transportation where it is easier to contribute with business necessities. It's predicted that Western Europe is going to become the largest economic region in the world since it has about 390 million customers and a combined GDP of $24 trillion, and according to the article "Doing Business in Western Europe", global-minded companies cannot afford to ignore this foreign market, (va-interactive.com, 2012). There is great incentive to initiate business in all the countries of Western Europe because, there is no exchange currency issues present. The current currency, the euro, was introduced in 1999 and became the exchange currency for all EU member states, (cia.gov. 2014).Although the business culture is different in a few parts of the region, it does no mean it's an issue for market opportunity. An example of different business culture could be, a country like Belgium or Netherlands, since they don't follow very strict ethical concerns in businesses whereas other countries do. Another cultural business difference is advertisement procedures. In Luxemburg and Germany, social media isn't that popular compare to the other countries that form the rest of the region, (cia.gov. 2014). Moreover, there is large range of suppliers present in

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