MADRID AT A GLANCE
Madrid is not only the capital city of Spain, it is the name given to the central region of the country. It is located in the centre of the Meseta Central, the vast plateau at the heart of the peninsula. The Madrid Region has almost 180 smaller towns and cities, many of which, such as Aranjuez, Alcalá de Henares, Chinchón, El Escorial, Manzanares el Real and Navalcarnero, have impressive national heritage sites and a long and rich history.
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| The country is divided into 17 regions or Comunidades Autónomas, all of which have their own directly elected authorities. The Partido Popular was elected to govern the Madrid Region for a fourth term in 2008, with Esperanza Aguirre as President of the regional government. As a member of the European Union since 1986 the country shares the common legal framework with other EU Member States to promote democracy, social justice and international co-operation and which has strengthened the development of trade and a competitive economy in Spain. | |
THE ECONOMY OF THE MADRID REGION
Spain has the eighth largest economy of the OECD countries and is one of the most economically dynamic countries in the world. The Madrid Region is one of the most developed regions of Spain.
The region represents 18.6% of Spanish GDP. Its average annual growth rate since 2000 has been 4%. In 2007, GDP per capita in Madrid was €32,047 ($43,887) at current prices, the highest in the country and higher than the EU average (€24,800 or $33,962). In addition, Madrid is one of the best performing regions in the EU. The region has had one of the highest job creation rates in the EU over recent years, with more than 100,000 new jobs in 2006. The Madrid Region accounts for 17% of Spanish foreign trade and it is the country’s leading recipient of foreign direct investment. In 2006 the region received 43% of total foreign direct investment into Spain, and in 2007 that figure rose to 77%.
HOME TO AN OPEN, DIVERSE AND TALENTED POPULATION
| To succeed in an ever-globalised world, we need to understand how our business partners work in their part of the world and to understand the varied markets with diverse requirements and needs. Diversity is essential for the development of any location. In today’s expanding Europe, the ‘shrinking’ world, and the ensuing competitive job markets, integration and inclusion are increasingly important in the workplace and society. |
A region which harnesses diversity enjoys many benefits. It is vital for both social harmony and economic development. Embracing differences encourages innovation and new ideas and sustains success. In Madrid we understand that employee diversity improves customer services. The regional government is dedicated to the integration of its foreign population and the creation of employment and training opportunities for them, knowing that this benefits the region as a whole, socially and economically. Diversity is one of Madrid’s assets, and it recognises this fact. Excellence in Education and Training Diversity allows Madrid’s businesses to provide for diverse markets and customers in terms of products and services as well as communication. Unlike other regions of the world, diversity does not cause social clashes or disturbances, rather a diverse and colourful community capable of living harmoniously and with acceptance, where individual distinctions and beliefs have come to construct Madrid’s own individuality as a welcoming and tolerant society. | |
Knowing that inclusion benefits us all, the Madrid Regional Ministry for Immigration developed the Madrid Integration Plan 2006-2008 (Plan de Integración de la Comunidad de Madrid 2006-2008). The Plan includes key points of action which include education, health, employment, housing, social sensitization and family and youth, among many other areas, to ensure that equal opportunities are provided across all social and economic sectors. |  |
A UNIQUE QUALITY OF LIFE
Madrid not only offers excellent opportunities for investment, higher education and professional development, but outside of the office and the business world, Madrid offers a world to discover. The quality of life offered in the Madrid Region is one in a million, offering an international education system right from primary schooling, a health care system to provide for all and safety rates that are one of the best in Europe. The region also offers a wealth of leisure, cultural and sporting activities for all ages, several world heritage sites, some of the world’s best collections of art and not-to-forget Spanish tapas and wines in a multitude of elegant and traditional bars and restaurants. Madrid is a region and a home you’ll never be able to forget.
Housing
The Madrid Region has a wide range of residential accommodation, suitable for different needs and financial means. Extensive transport options shorten travel time in the region. High-capacity motorways and commuter trains connect Madrid with surrounding towns. Within the capital, the underground, bus system, local trains and taxis enable quick and efficient transportation between most parts of the city.
Such easy transportation has driven the development of many luxury housing developments away from the city centre, which cater for the needs of executives and businesspeople.
Since 2000, Spanish real estate services have expanded their activities and grown more sophisticated, thereby benefiting buyers. This has made it easier for buyers to find a home with the help of estate agencies which assist with finding a house, brokering a deal as well as selecting a mortgage. Despite several years of rising house prices, the cost of renting or buying a property is still lower than in most other European capitals. Moreover, the rate of growth began to slow down at the beginning of 2007 and continues to do so, both in new and older buildings, and this is expected to be a medium term trend. Thanks to the intense construction activity over recent years, there is a large and diverse range of homes available for sale as well as rent.
Education
Through the Bilingual Schools Plan which began in 2004, bilingual education has gradually been incorporated into many schools within the region. At present 180 primary and secondary schools offer English-Spanish bilingual education, all of which are government-run schools. There are almost 2,700 non-university establishments in the Madrid Region, half of which are public. 46 of these colleges offer official foreign studies, principally for other EU countries, as well as offering American, Chinese and Japanese qualifications.
Health and Safety
There has been a significant reduction of the crime rate in Spain over the last 20 years. According to the Gallup Report (2005), Spain reduced its crime rate to just 9% between 1989 and 2005. This has given Spain the highest safety ranking in the EU. Madrid city is ranked the 5th safest city in Europe. Health Service: Madrid has a well-developed universal health care system, offering health and hospital care to the general public contributing to social security. The region has 80 hospitals and 8 new state hospitals have recently been opened in 2007-08, providing 2,000 more beds to the region.
Culture and Leisure
The Madrid Region offers leisure ideas to suit all tastes, with a wide range of options for tourists and local residents alike. Tradition and modernity are the two key elements of Madrid’s leisure options available. Catch the latest musical on the Gran Via – our very own Broadway, or get balcony tickets for the latest Spanish golden age theatre production or experience the alternative theatre scene of improvisation and foreign language productions. On the arrival of summer check out the year’s most fashionable terrace bar, and try chocolate and churros in the early morning after a night out on Madrid’s club scene. Beyond the capital, Madrid has even more to discover - each and every one of the towns that make up the Madrid Region offers a varied agenda of musical, theatrical and film events, not forgetting the broad array of bars, cafés and restaurants.
The broad and varied range of art on offer in the region includes everything from prehistoric rock paintings through to the most avant-garde works of modern art, in addition to the ever more popular museums on science, technology, anthropology and history.
One of the most traditional walks in Madrid is now in fact an “artistic triangle”, which offers visitors the chance to explore the history of art and to enjoy one of the finest parts of Madrid. This route, known as the "Paseo del Arte” or Art Walk, is unique in the world, and takes visitors on a path through paintings and sculptures, architecture and
nature, in one of Madrid’s most emblematic areas: the Paseo del Prado. The route includes three major art galleries in succession: the Prado Museum, the Thyssen Bornemisza Museum and the Reina Sofía Museum and Art Centre. The collections offer the public the chance to enjoy masterpieces by Velazquez, Goya, el Greco, Picasso, Dalí, Miró, among several other masters of Spanish and world art.
Sporting Activities
A broad range of sporting activities is available in the region covering all tastes and ages, from a light hearted game of golf to snowboarding.
Adventure and nature activities
For the more outdoor types, the region offers mountain biking, horse riding, kayaking, hiking as well as agro-tourism activities on farms and multi-activity programmes for all those who prefer to spend their free time in closer contact with nature.
Skiing
Just 60 km from the capital city you will find the peaks of the Sierra de Guadarrama Mountains, which are the location of the most popular ski resorts for Madrid residents, and which have produced some of Spain’s most distinguished skiers. The Sierra has three resorts, two with lifts, signposted pistes and technical/sporting facilities and a cross-country ski track through the Peñalara Nature Reserve. Golfing The golf sector is at an all-time high. Madrid holds over 80,000 golfing permits, more than any other region in Spain, according to the Madrid Golf Federation (www.fedgolfmadrid.com).
There are 27 courses throughout the region, a large number of which are open to the general public. Madrid holds the distinction of having the first course in Europe within the city itself. The 18 holes of the National Golf Centre (www.golfspainfederacion.com) are located very near the Monte de El Pardo. This makes it a prime destination for golf tourism and its growing number of supporters, without forgetting the local residents, who become fans of the game at an early age. More and more of the uninitiated are taking to the greens, and the sport is shaking off its elitist image. Golf is no longer the exclusive
domain of the few, and the extensive infrastructure on offer in the Madrid region means it is now available to everybody.
Weather
Madrid has a continental climate with four clearly defined seasons, but with year-round blue skies. The average annual temperature is 15.2ºC, it rains an average of 59 days/year and the skies are completely clear approximate
CONCLUSIONS:
Why Madrid for your global business? Madrid offers an open, dynamic, competitive and international economy and a business-friendly environment which allows your investment in Madrid to reach its maximum potential. It’s diverse, talented and highly qualified population provide a source of human capital hard to beat.
Why Madrid for your professional development? Madrid offers excellent opportunities for professional development through its network of prestigious universities. Through PPPs, Madrid’s universities offer research opportunities and qualifications directly relevant to the real world of business, finance and the sciences. Furthermore, a number of Madrid’s business schools are among the highest ranked institutions of the world.
Why Madrid for science and technology? Today, Madrid is a recognised centre for excellence in Europe in science and technology fields. This is particularly due to its public and private network of R&D centres and science and technology parks, as well as the region’s efforts and investment projected into these centres, and particularly Madrid’s talented human resources.
What services expertise can Madrid offer? Madrid has traditionally been a services centre. It has provided services abroad for centuries. Today, Madrid is a recognized hub for this sector, particularly in those referred to as professional services which are specifically relevant to business and finance operators.
How does Madrid allow you to be well communicated with the world? Madrid offers excellent regional, national and international transportation infrastructure. Its logistic centers enable the transportation of goods and services easily, efficiently and at competitive costs.
Why are globalised European and Latin American companies using Madrid as a control centre to for regional operations? Due to Spain’s well established political and institutional relations, and in particular Madrid’s know-how and experience in investment and commercial relations with Latin America, as well as excellent international transport links and Madrid’s human capital with expertise in Latin American and European markets, Madrid is the ideal location to improve business across the two continents.
What can Madrid offer you and your family? Madrid is often ranked among the highest for its quality of life. This isn’t surprising considering its international education programmes, excellent health services, crime and safety record, and its wealth of cultural, leisure and sporting activities and gastronomical delights… and of course the year-round blue skies.
Source: Promomadrid
