Landing Page – Programs
Restarting Academic Travel Programs
EMBA Study Trip – October 2021 Panama City
DAYS
PARTICIPANTS
CONSULTING PROJECTS
CONSULTING PROJECTS
Project Name:
International Market Expansion (LATAM)
Project Name:
Subscription Model and Pricing
Project Name:
Market Disruptor in Surgery
Project Name:
Social Change Through the Arts
Project Name:
Business Development for Ride-Sharing App
Project Name:
Business Model Diagnosis and Scale to New Markets
Project Name:
Panama, Gateway to Americas
Project Name:
Feasibility of Ornamental production in Panama
Project Name:
Developing Physical and Virtual Equipment Store
Project Name:
Growing Private Market Business
FIRST STUDY TRIPS AS
TRAVEL RESTARTS
Hear from Jeff Davis, Director of Executive Education at Rochester Institute of Technology, on the University’s first experience traveling after a long pause. This was Austral Group’s first academic program in Panama since March 2020 as well, a learning experience for everyone involved and a huge success for all the participants.
#ritembapanama
“All the colors everywhere! It’s so beautiful.”
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Offsetting our corporate carbon footprint
We estimated our corporate operation footprint and offset it with its equivalent purchase of 169 carbon credits through Moss. For more information, visit https://moss.earth/
These are the projects that our carbon credits support:
WE ARE COMMITTED TO HIGHLIGHTING SUSTAINABLE DEVELOPMENT TOPICS IN OUR PROGRAMS
As part of this commitment, we make sure our programs have the right balance of diversity in the speakers, highlighting female leadership and minority groups as well of high-impact companies.
We carefully curate the projects that we present in our Experiential Learning platform, ensuring we are offering projects with companies that perform in all 17 SDG impact areas, NGO’s and companies with female and founders from minority groups.
Internal Green Practices
We have recycling and
composting stations in our office
Installed bicycle parking
for our employees
Denmark
France
Thailand
Destination: Bangkok
South Africa
The largest economy in Africa
As a tourist destination, South Africa is a biodiversity hotspot with unique biomes and plant and animal life. With a great balance of business, culture and nature, South Africa is an excellent choice for an academic travel program that checks all the boxes!
Destinations: Cape Town and Johannesburg
Brazil
With well-developed agricultural, mining, manufacturing, energy, and finance industries, Brazil is the 7th largest economy in the world, placing it just ahead of its two BRIC counterparts, Russia and India. Since the early 2000s, the country has steadily improved its macroeconomic stability by developing its foreign reserves and creating an inviting environment for increased foreign direct investment. Despite recent economic and political turmoil, the country continues to stand as a world leader in the size and scope of its economic power. Brazil has recently been featured on the global athletic stage by hosting the World Cup soccer championship in 2014 and the Olympic Games in 2016.
Destinations: São Paulo, Rio de Janeiro, Curitiba, Belo Horizonte, Blumenau, Florianópolis, Fortaleza, Manaus, Porto Alegre
Singapore
Singapore has been consistently recognized as the world’s best place to do business in the World Bank’s annual survey of 189 economies around the world, a clear reason to put it on the map of best destinations for business education and academic travel!
Vietnam
Southeast Asia is an exciting region, with a unique culture, and thriving industries. Vietnam is known for its beaches, rivers, Buddhist pagodas, and bustling cities, which create a great environment to learn about business, and culture.
Vietnam’s economy is based on large state-owned industries such as textiles, food, furniture, plastics, as well as telecommunications, and tourism.
Destinations: Ho Chi Minh City and Hanoi.
Israel
Nicknamed The startup nation”, Israel is one of the hottest innovation and technology hubs in the world.
Israel’s unique “global-first” market approach, strong economy, and culture are some of the factors that make its innovation ecosystem one of the most successful in the world.
Destinations: Tel Aviv, Jerusalem
Dubai
Italy
Italy is known for its fantastic scenery as a tourist destination and for its beloved cuisine.
Industries like fashion, textiles, clothing, and footwear put Italy on the map as a key player for high-end goods, but other thriving industries, like chemicals, pharmaceuticals, and electrical goods, also contribute to making Italy an attractive destination for a well-round study trip.
Destinations: Milan, Rome
Belgium
Belgium, the headquarters for the European Union and NATO, encompasses 3 distinct regions, speaking three official languages: Dutch, German, and French.
With thriving industries like metallurgy, motor vehicle assembly, chemicals, pharmaceuticals, textiles, and food processing, all concentrated in a small area, Belgium makes a great destination to learn about a wide range of businesses.
Málaga
Málaga is a municipality of Spain, capital of the Province of Málaga, in the autonomous community of Andalusia. This port city on southern Spain’s Costa del Sol, known for its high-rise hotels and resorts in front if its yellow-sand beaches. Today, Malaga’s economy is dependent on construction, tourism, service industries and more recently research sectors. The tourism and service industries are the main sources of revenue, accounting for more than 65% of the employment rates.
Granada
Granada is one of the tourism gems of Spain, the capital city of the province of Granada, in the autonomous community of Andalusia, Spain. Primary industries such as agriculture and fishing play an important role in the local economy.
Chicago
Chicago, on Lake Michigan in Illinois, is among the largest cities in the U.S. Famed for its bold architecture, it has a skyline punctuated by skyscrapers such as the iconic John Hancock Center. It is home to 36 Fortune 500 companies and i a transportation and distribution center. Manufacturing, printing, publishing insurance, financial trading & services, and food processing also play major roles in the city’s economy.
ATACAMA
San Pedro de Atacama is a small town set on the arid high plateau in the Andes mountains, in the northeast part of Chile. Its dramatic landscape incorporates desert, salt flats, volcanoes, geysers, and hot springs. The Valle de la Luna in the nearby Los Flamencos National Reserve is a lunarlike depression with unusual rock formations, a huge sand dune, and pink-streaked mountains, an ideal trip extension to add to your academic program.
Toledo
Toledo was declared a World Heritage Site by UNESCO in 1986 for its extensive monumental and cultural heritage and makes an excellent tourism and site seeing complement to your academic trip.
Segovia
Segovia is a historic city northwest of Madrid, in central Spain’s Castile and León region. Its centuries of settlement have resulted in a rich architectural legacy, including medieval walls, Romanesque churches, a former royal palace and a Gothic cathedral. Its iconic ancient Roman aqueduct has more than 160 arches, most in the original mortarless granite, and stands above Plaza Azoguejo in the heart of the city.
Madrid
Madrid, Spain’s central capital, is a city of elegant boulevards and expansive, manicured parks such as the Buen Retiro. It’s renowned for its rich repositories of European art, including the Prado Museum’s works by Goya, Velázquez and other Spanish masters.
The city’s major industrial products include motor vehicles, aircraft, chemicals, pharmaceuticals, processed food, printed materials, and leather goods. Besides its many manufacturing industries. While Madrid is an important industrial center, it is more important as a center of service activities.
Chicago
Chicago, on Lake Michigan in Illinois, is among the largest cities in the U.S. Famed for its bold architecture, it has a skyline punctuated by skyscrapers such as the iconic John Hancock Center. It is home to 36 Fortune 500 companies and is a transportation and distribution center. Manufacturing, printing, publishing insurance, financial trading & services, and food processing also play major roles in the city’s economy.
Argentina
Although Argentina was one of the world’s wealthiest countries in the early 20th century, the country has been confronted with recurring economic crises and perpetually high inflation. These challenges, coupled with recent political insecurity, have provided a truly unique environment for both domestic and international business and offer an interesting case study into conducting business in a volatile market. Subsequently, this has led to a boom in local entrepreneurship to generate new, creative ideas to remain afloat. In 2015 Presidential elections brought change to the nation with the election of Mauricio Macri, inspiring a great deal of hope to Argentina and global investors.
Destinations: Buenos Aires, Mendoza and Iguazu Falls
Valparaiso
Valparaíso is a port city on Chile’s coast. It’s known for its steep funiculars and colorful, clifftop homes. La Sebastiana, the quirky former residence of Chilean poet Pablo Neruda, is now a museum with far-reaching Pacific views.
San Francisco & Silicon Valley
Synonymous with overnight fortunes, high-tech revolutions, and futuristic developments, Silicon Valley covers a 45 mile stretch across famous cities like Palo Alto and Cupertino. The entrepreneurial explosion that has been occurring for 50 some years has fostered global staples such as Google, Facebook, Apple, and Intel, all the while paving the way for new high-tech startups including WhatsApp and Pinterest. The region continues to offer a breadth of opportunities for tech-centric startups and venture capitalists interested in a dynamic career in the industry.
Silicon Valley’s creative atmosphere would be impossible if not for San Francisco and its rich history grounded in free speech, originality, and inventiveness. San Francisco is often called ‘Everybody’s Favorite City’ and is routinely voted as the USA’s top city to visit by international travel organizations. The city is a principal banking and finance center, home to more than 30 financial institutions, and has strong roots in production, education, and technology.
Frank Céspedes
Frank is Senior Lecturer in the Entrepreneurial Management Unit at Harvard Business School. He received his BA from the City College of New York, MS from MIT and Ph.D. from Cornell University. At Harvard, he has developed and taught a variety of MBA and executive courses, led the Strategic Marketing Management program for senior executives, and was co-lead of the Sustainable Market Leadership program for CEOs and their leadership teams. He currently teaches the elective Entrepreneurial Sales and Marketing (ESM) course in the MBA program as well as modules in the Owner President Management (OPM) executive program, and he heads the executive program Aligning Strategy and Sales. Before joining the faculty, he was a Research Associate at Harvard and worked at Bain & Company, an international strategy consulting firm. From 1995 to 2007, he was Managing Partner at the Center for Executive Development (CED), a firm that won awards in the United States and Europe for its work with companies worldwide. He has consulted to companies in many industries, is affiliated with private-equity investors, and has been a Board member of Evenflo, HALO Industries, start-up firms, and the Education for Employment Foundation (EEF), which provides career training in skills linked directly to job placement with companies in the Middle East and North Africa. He is the author or co-author of six books, including Aligning Strategy and Sales: The Choices, Systems, and Behaviors that Drive Effective Selling (Harvard Business Review Press, 2014), Concurrent Marketing: Integrating Product, Sales and Service (Harvard Business School Press) and Going to Market: Distribution Systems for Industrial Products(Harvard Business School Press); as well as articles in Harvard Business Review, Wall Street Journal, Strategy and Business, Business Horizons, California Management Review, International Encyclopedia of Business and Management, Journal of Managerial Issues, Journal of Personal Selling & Sales Management, Marketing Encyclopedia, Organization Science, Sloan Management Review, and Strategy & Business. He has also written more than 40 case studies about companies and numerous technical notes on various business topics.
David Pérez
David joined Austral Group as an early-stage investor and strategic advisor in 2007. David has made a career helping start and scale innovative businesses in Latin America, leveraging connections with the US and the world. He has exercised a wide variety of roles, including CEO, CFO, Board Member and Strategic Advisor, through almost all stages of company development. Since 2017, David has specialized in b2b software-as-a-service (“b2b SaaS”), serving as board member and advisor to early-stage Chilean companies and, more recently, co-founding Portola Growth Partners, the Region’s first investment group dedicated to b2b SaaS. David owes much of his company-building experience to Derco SA (2004-2013), one of South America’s largest distributors of automobiles and machinery, where he spearheaded approximately US$500mm of new initiatives, including pioneering the importation and marketing of Chinese automotive and truck brands into Chile and Peru, and more recently as CEO of AutoPlanet, an automotive parts and supplies retailer owned by Derco. Earlier work includes Quiñenco SA (Luksic Group), CFO of Habitaria, a real estate start-up, and Devorame.com, a Latin American streaming music service he co-founded in 1999. David started his career in corporate mergers and acquisitions at The Bridgeford Group in New York, now part of JP Morgan. David holds an MBA from Stanford University Graduate School of Business and a BA Magna Cum Laude in Economics from Harvard College. Outside of work, he enjoys his young kids’ entrepreneurial adventures, and dreams of one day returning to Santiago’s professional jazz scene as an award-winning saxophonist.
Alfonso Gómez
Alfonso began his career as an academic at Universidad Católica, Chile in the Industrial and Systems Engineering department. Upon transitioning to the private sector, he was a founding partner of companies such as Apple Chile and Virtualia, the first social network developed in Latin America. Alfonso has served as an Advisor and on the Board of Directors of numerous companies and institutions including the National Council of Culture and the Arts, the Digital Country Foundation, the Anacleto Angelini Innovation Center at Universidad Católica, and the National Innovation Council. In addition, Alfonso served as Dean of the Business School of Adolfo Ibáñez University in Chile. Currently Alfonso serves on the Board of Directors of Banco Santander and as an advisor to several companies and projects. He is a graduate of Universidad Católica, Chile with a degree in civil engineering, and holds a Ph.D. from the Royal College of Art in London, United Kingdom.
Zika outbreak in Latin America
Scenario: Zika outbreak in Latin America
In February 2016 the World Health Organization declared the Zika outbreak to be a “public-health emergency of international concern”, and the Center for Disease Control and Prevention (CDC) issued a Level 2 travel alert for individuals traveling to affected countries where Zika virus transmission is ongoing, including Brazil, Colombia and Panama. While much is still to be learned about Zika and its correlation with neurological disorders and birth defects, travel for pregnant women to affected areas has been advised against, and women trying to get pregnant should consult with an international travel healthcare provider.
Austral Group response:
Our Risk Management team proactively reached out to travelers with upcoming trips to Brazil and Colombia to share detailed information about the ongoing situation, including Austral Group’s on-the-ground perspective on the outbreak, taking measures to re-route travelers to destinations not affected by the outbreak. Following the CDC announcement, Austral Group offered full refunds to travelers not comfortable traveling to Zika-impacted areas. Many travelers chose to remain with their original plans and to take additional precautions based on the information provided.
PASSPORT EMERGENCY
Scenario:
On the last day of a program taking place in Rio de Janeiro, Brazil, a student decided to go to the beach and take a swim. She decided to leave her bag unattended on the sand. When she returned, it had been stolen. She lost her phone, credit cards, and passport. The group was taking a flight late that evening and she no longer had any documentation to be able to fly.
Austral Group response:
An Austral Group staff member contacted the Canadian Embassy, explained the situation, and accompanied her to the Embassy, where they were able to get her an emergency passport on the same day. She even was able to make it to the airport on time to take the group flight.
Client assessment:
University of Western Ontario MBA November 2017
Volcanic Ash Cloud Disrupts Air Travel
Scenario: Ash cloud causes cancellation of group flights
Air currents circulating ash spewed from an active volcano in southern Chile caused unpredictable flight delays and cancellations, causing disruptions that changed on a daily and even hourly basis over the course of several months in Argentina, Brazil and Chile. The first flight cancellation caused a program to cancel the 2nd destination in their itinerary.
Austral Group response:
With ½ of the itinerary unexpectedly canceled, the Austral Group acted fast to pull together several meetings with executives within hours of the canceled flight. Our Logistics team was able to secure 100% no-show reimbursements from our providers negating any potential loss of trip funds. Our Programming team created contingency itineraries that were quickly implemented when subsequent delays and cancellations disrupted scheduled programs.
Client assessment:
“I honestly don’t know what we would have done had Austral not been so responsive when our flight in Buenos Aires was canceled due to volcanic ash. They secured the coach, the guide, and the hotel rooms, spur-of-the-moment outings, as well as arranged for air tickets for 32 people on a different flight.”
~ Dr. Joan C. Hubbard, Department of Management, University of North Texas
Thank you again from all of us”
University College Dublin – Smurfit Graduate Business School MBA student (2020)
Massive Earthquake Strikes Chile
Scenario: Massive earthquake disrupts study trips in Chile
A massive 8.8 earthquake struck 260 miles south of Santiago, Chile at 3:34 am on February 27, 2010 with intense shaking in Santiago lasting nearly 3 minutes. Communications infrastructure in Chile was widely affected, although damage to buildings and other infrastructure in Santiago was minimal. The Santiago airport was affected and closed. 52 MBA and EMBA students were on flights en route to Santiago when the quake hit and their planes were re-routed to 5 different airports across the Americas. 9 MBA students were already in Santiago about to start their international experience.
Austral Group response:
Despite most communications systems being out and information scarce, Austral Group managed to contact all relevant University officials who were located across the Globe to inform them of the situation on the ground. We identified and contacted all re-routed and stranded students who were located in Santiago, Lima, Mendoza, Rio de Janeiro, Dallas, and Atlanta. Everyone was safe, although a bit shook up. With worried parents and university officials frantically and unsuccessfully trying to contact the students, Austral Group responded by uploading an informative website within hours after the earthquake and utilized Austral Group’s Twitter account and other social media to open up conversation lines and keep everyone informed of events on-the-ground in real-time. Austral Group staff quickly went to work to resolve logistics issues and make itinerary changes for all groups that were affected by the quake.
Client assessment:
“Our trip to Chile would have remained a nightmare of the earthquake and a disappointing journey, but because of Austral Group – now it is a pleasant memory. Gracias!”
~ Ravikiran Rajagopal, Penn State University MBA Student (2009)
SOCIAL UNREST
Scenario:
A university traveled to Chile with more than 120 students for a 9 days trip to work on several consulting projects. On the second day of the program, several protests broke out in Santiago and other parts of the country due to an increase in the subway’s price. On the third day, total chaos had emerged in the country, with more than 20 subway stations being burned and numerous acts of looting and vandalism happening in various cities of the country. A state of emergency was initiated by the government allowing the military to enter into action. Curfew was instituted for several weeks after.
Austral Group response:
With an already large team, more than 20 program coordinators were already involved due to the consulting projects, Austral was more than prepared to assist the university to continue with the program. Several students decided to fly back early, and while Austral did not take care of flights for this group, our ATS team provided any assistance necessary to ease the process for the students.
For students that decided to continue with the program, and taking into consideration the city’s main points of protests, several logistic modifications were made in order to assure the safety of all involved. Austral facilitated water and food and other essential goods required by students in an attempt to avoid them heading to supermarkets, which were the main points of looting. We continuously provided updates regarding current events in an attempt to clarify what real risks were happening and provided control measures on how to avoid increasing potential exposure.
Consulting companies were contacted and student meetings were adjusted in order to allow students to fly back early when requested or to avoid heading to problematic areas of the city.
Rapid Response Trip Planning
Scenario:
A university had to switch destinations from Asia to Latam with short notice, and then from in-person to online due to covid.
Austral Group response:
When the University had to switch from a Hong Kong to a Latin America destination due to social unrest, Austral Group quickly began putting together their trip to Panama, also a port city, with little over a month to go. Going to a port city was important as students were working on a consulting project back home for the Port of Vancouver. While planning for the in-person trip, the Covid-19 outbreak began and a fully online itinerary was planned and successfully delivered within a couple of weeks’ notice.
Client assessment:
“It is always a pleasure working with Austral Group, and I didn’t notice any difference in the service between an in-person or an online experience. Usually, it takes months to plan these things, and they pull this off in 3 weeks for us. Five Stars rating right there!”
Lesley Mckay, Associate Director, Co-curricular & MIM at Beedie School of Business at Simon Fraser University
Medical Emergencies
Scenario:
A Student presented a severe pain in the front part of her head, that was increasing with the hours. She also presented nausea, and vomit before taking a flight from Bogota to Cartagena. She was taken to the Sanity Unit at the Airport in Bogota and after some exams, she was sent by ambulance to the nearby hospital. At the hospital, it was determined that she had blood clots close to the neck and the head.
Austral Group response:
Austral Group canceled her trip to Cartagena, and immediately provided support, and took her to ER at the airport. Then Austral Group staff took turns to accompany the student during her entire hospitalization, to keep her company, and to assist her with translation services until her father arrived.
Client assessment:
Outstanding service and support for medical emergencies. Ampy Kollman Moore.
Saint Louis University EMBA Peru-Colombia May 2018
COVID-19 Outbreak while traveling
Scenario: Argentina’s government announced border closing and international flights cancellations
On March 8th, 2020 a group of 36 EMBA and MBA students arrived in Buenos Aires, Argentina for a study trip. The official end date of the trip was March 14th, however, some students were extending their stay until March 21st.
In an attempt to keep the coronavirus from entering the country, on March 12th, 2020 Argentina’s government decided to cancel all international flights and close all borders starting on March 17th, 2020. The border closing meant that many students would have to leave the country earlier than planned.
Austral Group response:
Despite the high demand due to the border closing announcement, Austral Group´s Flights Department worked intensively managing to reschedule 15 airline tickets to earlier dates. All the students and staff/faculty members were able to leave the country before the border shutdown.
Client assessment:
“Thank you for everything you have done for us this week. I am sure it was not your average week and you made everything run so smoothly for us even with the many surprises along the way.
We are all on the plane and about to take off.
Thank you again from all of us”
University College Dublin – Smurfit Graduate Business School MBA student (2020)
PERU
Named America’s Fastest Growing Economy by The Economist, Peru is rapidly gaining momentum in both the regional and international business environment. Private investment numbers have grown at a rate of nearly 20% per year, which, coupled with domestic consumption, is driving the economy forward at an accelerated pace. Though Peruvian economic policy has varied widely over past decades, the country has made huge strides towards stabilization and progress in the last 20 years, making it a perfect case study for Latin American emerging markets. Peru’s vast natural resources, including copper, zinc, oil, lead and gold have made the country significantly more attractive to foreign investors. Primary export countries include the US, China, Brazil, the EU, and Chile.
Destinations: Lima and Cusco
URUGUAY
Often called the Switzerland of South America, Uruguay has one of the highest quality of life ratings on the continent. With a population of just over 3 million, Uruguay’s economy is recognized as one of the most stable in South America, and is home to the administrative capital of MERCOSUR. Uruguay is a short boat ride away from Buenos Aires, and is home to some of the best beaches on the Atlantic Coast. Enjoy the expansive countryside full of ‘pampas’, or rolling hills, and meet Uruguay’s famous cowboy ‘gauchos’, sit back and relax on the pristine beaches, or sample Uruguay’s finest wines on a private vineyard tour.
Destinations: Montevideo
ECUADOR
Home to the breathtaking biodiverse Galapagos Islands, Ecuador has one of the most dynamic economies of the region. This emerging market, at the very center of the world, is filled with business and learning opportunities.
COLOMBIA
Colombia’s consistently sound economic policies and aggressive promotion of free trade agreements in the last few years have pushed the country into a leading position within Latin America. Investments have poured into industrial production of textiles, oil, chemicals, gold, coal, and emeralds, bolstering the country’s economic stability. Despite falling commodity prices and the Colombian economy’s reliance on oil as a main export, their economy looks promising, and the government proves determined to diversify its industrial base and encourage its private sector to enter into public/private partnerships with the participation of foreign investment. The ongoing peace agreement negotiations with local political interests helps to expand the thriving tourism and agribusiness sectors.
Destinations: Bogota, Medellin and Cartagena
SEATTLE
Seattle is one of the fastest growing cities in the United States, and counts 3.5 million inhabitants in the metropolitan area. Boasting a vibrant music and performing arts scene, the city has a large student and young professional crowd. Seattle is also a very modern city, and host to headquarters of 4 fortune 500 companies including Starbucks, Nordstrom, and more recently Amazon. Microsoft headquarters, while not in Seattle itself, is only 16 miles outside of the city in nearby Redmond. In addition, Seattle has strong ties to the logging industry. Seattle is an important shipping city with the third largest port in the country, and is a gateway to U.S. trade with Asia.
MIAMI
Miami is a major financial, commercial and cultural center for the South East region of the United States and an unparalleled tourist destination with beautiful beaches, and nightlife to be enjoyed after a full day of academic programming.
HOUSTON & AUSTIN
Texas is the second largest U.S. state by both area (after Alaska) and population (after California). The economy of Houston is based primarily on the energy industry, particularly oil. However, health care, biomedical research, and aerospace also constitute large sectors.
Austin is known for its eclectic live-music scene centered around country, blues and rock. Its many parks and lakes are popular for hiking, biking, swimming and boating.
Let’s explore these Texas cities and their business culture together in your upcoming business travel program!
NEW YORK
As the birthplace of many American cultural movements such as the Harlem Renaissance in the early 20th century and the Jazz Age developing during the roaring twenties, it is no surprise that New York City is the perfect example of the cultural melting pot that describes the United States so well. Today, almost half of the New York City population’s first language is one other than English — a reminder of why so many call it the crossroads of the modern world.
Wall Street, the famous street that runs eight blocks through the Financial District of lower Manhattan, has become almost a metonym for the financial markets of the United States as a whole. Home to the world’s two largest stock exchanges, the New York Stock Exchange and NASDAQ, Wall Street is often the catalyst for New York City’s reputation as the most economically powerful city as well as the leading financial center of the world.
DENVER & BOULDER
Colorado’s economy is diversified, but with a concentration for manufacturing, scientific research and high-tech industries. Tourism is also a billion dollar industry in colorado thanks to the outdoor sports enthusiasts.
BOSTON
Often referred to as one of the nation’s most well-educated cities, Boston is constantly reinventing itself with new ideas and identities while keeping true to its historic roots. One of the oldest in the country, the city was founded in 1630 by Puritan settlers from England, and it quickly became the political, commercial, religious and educational center of the New England region. Boston’s many universities and colleges make the region an international hub of higher education and medicine, which has a large impact on local culture and economies. The city attracts over 350,000 university students from around the world, who contribute more than US$4.8 billion annually to the city’s economy.
TOLEDO
Toledo was declared a World Heritage Site by UNESCO in 1986 for its extensive monumental and cultural heritage and makes excellent tourism and site seeing complements to your academic trip.
SEGOVIA
The economy of Segovia revolves around metallurgy, agriculture, furniture, construction and, particularly, tourism. This town is an ideal day trip from Madrid to go and explore its multiple attractions.
MADRID
The largest economic hub in Spain with an estimated GDP of € 133 billion, 12% of the national GDP.
Madrid’s major manufacturing and industrial products include motor vehicles, aircraft, chemicals, pharmaceuticals, processed food, printed materials, and leather goods.
This is an exciting destination for tourism, being this sector pivotal for the country’s economy as Spain is one of the most popular tourist destinations in the world, so you can expect plenty of historical landmarks, museums, markets and things to do on or off your academic program.
BARCELONA
Barcelona has a well diversified economy, in contrast with other cities in Spain that are heavily reliant on one or two sectors. It’s economy is particularly strong in the motor vehicle industry, electrical engineering, publishing, wine production and consumer goods.
MUNICH
Munich, Bavaria’s capital, is home to centuries-old buildings and numerous museums. The city is known for its annual Oktoberfest celebration and its beer halls, including the famed Hofbräuhaus, founded in 1589. Individually strong, contributing to Munich’s diverse economy are diverse industries like tourism, manufacturing, medical engineering, and the service sector.
FRANKFURT
Frankfurt, a central German city on the river Main, is a major financial hub that’s home to the European Central Bank.
It is the largest city in the federated state of Hesse in the southwestern part of Germany.
Some of the key industries that contribute to its economy are Chemicals, pharmaceuticals, life sciences, financial services, Telecommunications, IT, Logistics, and mobility industries.
BERLIN
Berlin is one of the startup’s capitals of Europe, and its economy is dominated by the service sector with over 80% of companies doing business with services.
Important economic sectors in Berlin include life sciences, transportation, information and communication technologies, media and music, advertising and design, biotechnology, environmental services, construction, e-commerce, retail, hotel business, and medical engineering.
SANTIAGO
The economy of Chile is a market economy and high-income economy as ranked by the World Bank. Santiago, is the capital and largest city, sitting in a valley surrounded by the snow-capped Andes and the Chilean Coast Range. Its economy has emerged on the global stage, accounting for almost half of Chile’s GDP. Its well-educated workforce is a great economic asset. Home to multinationals as well as a vibrant startup scene, Santiago is a great city to learn about business in Latin America.
UNITED KINGDOM
The United Kingdom’s economy is the fifth-largest national economy in the world. The UK is also one of the largest producing countries for the aerospace and pharmaceutical sectors among others. This exciting destination, with the current challenges that faces due to Brexit and the Cover 19 crisis, makes it a very interesting destination for students groups to learn about business, the economy, and trade.
NETHERLANDS
The Netherlands is known for its charming canals, cycling routes, windmills and tulip fields, but it is also a major port in Europe and a big exporter of agricultural products. It is a small country but a big player for various industries, which makes it an ideal place to visit on a business study program.
PUERTO RICO
Puerto Rico is a Caribbean island and unincorporated U.S. territory with a landscape of mountains, waterfalls, and the El Yunque tropical rainforest.
Puerto Rico’s economy, now based on services and manufacturing, was dominated by agriculture until the mid-20th century. Today, the main drivers of Puerto Rico’s economy are manufacturing, primarily pharmaceuticals, textiles, petrochemicals, and electronics; followed by the service industry, notably finance, insurance, real estate, and tourism.
PORTUGAL
As one of the oldest nations in Europe, Portugal was a world power in the 15th and 16th centuries, before losing much of its wealth and status after the destruction of Lisbon in a 1755 earthquake and its occupation during the Napoleonic Wars. During the majority of the 20th century, following a revolution that deposed the monarchy, repressive governments ran the country until a 1974 coup installed broad democratic reforms. Today, the Iberian Peninsula nation boasts a booming economy, enjoying its highest economic growth rate in nearly two decades. Fueled by record tourism, an increase in the housing market, a growing tech sector and strong exports, private investment has returned to levels prior to the 2008 global financial crisis. Experts admit, however, that Portugal’s reputation has yet to fully bounce back from the bailout years, and are watching closely to see how long the economic recovery can hold.
Destination: Lisbon
PANAMA
As the most cosmopolitan city in Central America, Panama City has established itself as a thriving center for international banking and trade, and the skyline rivals that of Miami with dazzling steel towers and innovative architecture, dotted with new Panamanian luxury yachts, fine dining restaurants, and chic dance clubs. Known for the juxtaposition of old and new, this cosmopolitan city is growing steadily with increased foreign investment while staying true to it’s traditional roots. The Panama Canal continues to provide a significant source of jobs and revenue for the country, with a recent expansion doubling the capacity to over 5% of the world’s trade and 16% of all US-born trade.
Destination: Panama City
MEXICO
Mexico City is an economic juggernaut, that on it’s own, could rival many other Latin American countries. As one of the most important financial centers in the Americas with a population of 8.9 million people, and the population of Greater Mexico City at 21.3 million people, making it the largest metropolitan area in the Western Hemisphere and the largest Spanish-speaking city in the world. The GDP of Greater Mexico City is $411 billion, making the Mexico City urban agglomeration one of the largest metropolitan areas in the world. As a stand-alone country, Mexico City would rank as the fifth-largest economy in Latin America – five times as large as Costa Rica and about the same size as Peru.
Destinations: Mexico City, Monterrey
IRELAND
Ranking first for high -value foreign direct investment, the economy of Ireland is a developed knowledge economy, focused on financial and high-tech services, life sciences and agribusiness.
COSTA RICA
Costa Rica is known for its beaches, volcanoes, and biodiversity.
The tourism industry has experienced the fastest growth in the country, and it has become the country’s biggest earner of foreign exchange. Agricultural exports and manufacturing also account for a large portion of this Central American nation. Costa Rica is an ideal destination for nature lovers, and those who want to mix business, and leisure.
Destination: San Jose.
CANADA
The northern neighbor of the United States, Canada has a highly developed mixed economy.
Destination: Vancouver.
A port and international trade city, Vancouver scores high in business competitiveness making it a big draw for investors, and it ranks as one of the best places to live, work and invest in the world. Already the strongest economy of all cities in Canada, Vancouver is set to become one of the most thriving locations to conduct business in North America, making it a dynamic city for business students to visit and learn.
POPUP
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