Located at the crossroads of the Atlantic and the Mediterranean, Europe and Africa, Spain's history and culture are made up of a rich mix of diverse elements. Through exploration and conquest, Spain became a world power in the 16th century, and it maintained a vast overseas empire until the early 19th century. Today, the mainstays of the economy are tourism, a booming housing market and construction industry. Spain is a highly developed, competitive market. Spanish companies are becoming increasingly competitive and are looking more and more outside their home base for opportunities to enable them to globalize their business.