Country Analysis Uruguay
International Marketing Assignment
Country Analysis Uruguay
Country: Oriental Republic of Uruguay
Official Languages: Uruguayan Spanish
Currency: Uruguayan peso (UYU)
Capital: Montevideo
Population: 3.4 million
GDP (by PPP): US $40.7billion (2010)
Submitted By:
Group – M1 – 3
Sowmya Amin – Mkt-01
Chirag Gahlaut - Mkt-13
Darshan Gandhi – Mkt-15
Kavan Jani - Mkt-19
Tanvi Moolur – Mkt-36
Uruguay Business Etiquette
Uruguayans pride themselves on being very European in attitude and conduct business accordingly. It is a stable country with a strong middle class and a good place for foreigners to pursue business. People enjoy easy access to a good education, compulsory for nine years and free through post-graduate studies. The literacy rate is 96%, one of the highest in South America.
While timing of social engagements is flexible at best, business meetings here start promptly at the agreed time. While European-style cheek-kissing is the norm for greetings between friends (even males), business associates shake hands.
* Dress and Appearance
Despite the popularity of bright colored clothing in other parts of South America, business people dress conservatively in Uruguay. Wear a suit and tie of muted, dark colors to meetings.
During hot summer months, your hosts may remove their jackets and ties. Follow their lead and do the same if this is the case.
* Meetings
In keeping with tradition of South American business meetings, Uruguayans are typically tardy for business meetings. You should be punctual, but be prepared to wait for your hosts.
Make small talk before getting down to business. Uruguayans prefer to form relationships with clients and will want to get to know you. Family is very important in Uruguay; be prepared for your hosts to ask you personal questions about your family life.
A foreign woman will have no problem doing business in Uruguay. It may even be an advantage. Men like to be with and enjoy doing business with
Country Analysis Uruguay
Country: Oriental Republic of Uruguay
Official Languages: Uruguayan Spanish
Currency: Uruguayan peso (UYU)
Capital: Montevideo
Population: 3.4 million
GDP (by PPP): US $40.7billion (2010)
Submitted By:
Group – M1 – 3
Sowmya Amin – Mkt-01
Chirag Gahlaut - Mkt-13
Darshan Gandhi – Mkt-15
Kavan Jani - Mkt-19
Tanvi Moolur – Mkt-36
Uruguay Business Etiquette
Uruguayans pride themselves on being very European in attitude and conduct business accordingly. It is a stable country with a strong middle class and a good place for foreigners to pursue business. People enjoy easy access to a good education, compulsory for nine years and free through post-graduate studies. The literacy rate is 96%, one of the highest in South America.
While timing of social engagements is flexible at best, business meetings here start promptly at the agreed time. While European-style cheek-kissing is the norm for greetings between friends (even males), business associates shake hands.
* Dress and Appearance
Despite the popularity of bright colored clothing in other parts of South America, business people dress conservatively in Uruguay. Wear a suit and tie of muted, dark colors to meetings.
During hot summer months, your hosts may remove their jackets and ties. Follow their lead and do the same if this is the case.
* Meetings
In keeping with tradition of South American business meetings, Uruguayans are typically tardy for business meetings. You should be punctual, but be prepared to wait for your hosts.
Make small talk before getting down to business. Uruguayans prefer to form relationships with clients and will want to get to know you. Family is very important in Uruguay; be prepared for your hosts to ask you personal questions about your family life.
A foreign woman will have no problem doing business in Uruguay. It may even be an advantage. Men like to be with and enjoy doing business with
Bibliography: 1. http://www.culturecrossing.net/basics_business_student.php?id=218 2. http://www.ehow.com/way_5297070_uruguay-business-etiquette.html 3. http://www.dfat.gov.au/geo/uruguay/index.html 4. http://www.uruguayxxi.gub.uy/innovaportal/file/651/1/uruguay-india_report_2011.pdf 5. www.trademap.org