The Region of Madrid Information Kit

The Region of Madrid:
a World of Opportunities

© PromoMadrid, January 2010

The Region of Madrid: a World of Opportunities

INTRODUCTION

Spain is known all over the world for its rich history and its modern
spirit, for its zest for life and its wealth of culture, art and gastronomy.
The Region of Madrid lies at the very core of Spanish culture; it is a
region with a vibrant and positive outlook. But Madrid is also a leading
financial center, one of the preferred regions for international business
development and a very safe and attractive destination for investors.

This document is intended for journalists and anyone seeking basic
information about the Region of Madrid and in particular its economy.
Investors and professionals considering doing business or furthering
their career in the region will also find it useful. In these pages, we
provide information about Madrid as a leading global business center,
detailing the main developments in the region, its competitive
advantages and investment potential. Madrid is one of the fastest
growing economies and one of the most competitive areas in Europe
in which to invest, work and live.

Several economic and social factors have been catalysts for turning the
Region of Madrid into a leading global business center, and
consolidating its position among other leading cities and regions in the
world.

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CONTENTS

I. THE SEVEN MAIN COMPETITIVE ADVANTAGES OF THE
REGION OF MADRID: A BUSINESS FRIENDLY ECONOMY 3

1. SYNONYMOUS WITH ECONOMIC PROSPERITY 4

2. WHERE THE BIG DECISIONS ARE MADE 6

3. EXCEPTIONAL HUMAN CAPITAL 8

4. THE PLACE TO BE 10

5. LEADERS IN INNOVATION 13

6. EXCELLENCE IN SERVICES 15

7. UNIQUE QUALITY OF LIFE 17

II. CONCLUSIONS 19

III. USEFUL WEBSITES 21

IV. ABOUT PROMOMADRID 22

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1. SYNONYMOUS WITH ECONOMIC PROSPERITY Business Friendly Environment

The Regional Government fosters the entrepreneurial spirit through its
business-friendly legal framework and tax regime, the simplification of
Over the last decade, the Region of Madrid’s economic development
establishment processes as well as institutional support.
has enjoyed sustained growth, driven by Regional Government
policies that favor entrepreneurs’ and investors’ initiatives and
maximize their profits. Madrid is today a dynamic, prosperous free At present, the Regional Government supports entrepreneurs and foreign investors
by:
market economy.
1. Simplifying and speeding up the set up procedures, eliminating unncessary steps
and reducing the waiting time. (In Madrid, it takes an average of 6.83 days to
establish a venture online in comparison with the national average of 8.77 days).
Basic Facts about the Region of Madrid
2. Developing non interventionist policies aimed to favor free enterprise.
Area 8,030 km2 (1.6% of the national territory)
Population 6.2 million (13.59% of the population of 3. Providing free advice during the set up stage for a business venture through
Spain) PromoMadrid, as well as the development of incentives and aid programs.
Foreigners 1,043,133 (16.4% of the population of
Madrid)
Number of municipalities 179
Language Spanish (approx. 400 million speakers
worldwide, 3rd most spoken language in Dynamic Economy
the world)
2008 GDP per capita €33,020 (21% above the EU-27 average, Madrid accounts for only 1.6% of the national territory, but its
and 37% higher than the average for economy represents 18.8% of Spanish GDP. Furthermore, in 2008, the
Spain) region’s per capita GDP surpassed €33,000 the highest in the country
Sources: National Statistics Institute, Madrid Statistics Institute, Eurostat and well above (21%) the EU-27 average.
(2008)
Madrid is one of the most competitive regions in Europe, in part
because of its tax regime, the availability of office and industrial space
for sale and rental and low operational costs.

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According to the OECD, income tax (IRPF) is lower in Spain than it is in Finally, labor costs are significantly lower than those of other European
many other European countries such as France, Germany, the countries and those of the U.S. (according to Eurostat data, Madrid is
Netherlands, Italy, the Czech Republic and Poland. Also; Madrid has the city with the fifth lowest labor costs in the EU-15).
one of the most favorable tax regimes in Spain and is the region that
offers the most favorable income tax deduction to its citizens (1% of
the tax rate).

The average growth for the decade 1999-2008 was 3.9%, above the Spanish
average (3.5%), the Euro Zone (2%), the EU (2.4%) and the U.S. (2.5%).

The Region of Madrid as of 2009 eliminated the wealth tax and has
virtually done away with inheritance and succession taxes.
Furthermore, non-resident executives of multinational companies can
benefit from a very advantageous tax regime in Spain, whereby
income generated in Spain is taxed at the reduced rate of 24% for the
first six years after Spain is declared as the country of residence for tax
purposes.

According to the European Cities Monitor 2009 (Cushman &
Wakefield) Madrid is the first city in Spain and the third in Europe in
terms of office availability. This report shows that the average rental
cost, €651 /m2/year in the financial center of Madrid is lower than in
cities such as Zurich, Milan, Moscow, Paris or London.

As a result of deregulation and privatization policies over the years, the
Region of Madrid also offers very competitive rates for basic utilities
(water, electricity, gas and telecommunications).

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2. WHERE THE BIG DECISIONS ARE MADE Headquarters for the leading companies
In Spain, the big decisions are made in the Region of Madrid, where
Madrid is the headquarters of 60% of the businesses in Spain with over 5,000
the principal legal, political and cultural institutions have their employees and 40% of the businesses with more than 1,000 employees.
headquarters.
Of the 55 Fortune 100 businesses present in Spain, 43 (78%) are in the Region of
An International Political and Business Center Madrid

Of the 35 IBEX companies, 27 (77%) have headquarters in Madrid.
Spain is the ninth economy in the world, and the seventh largest of the
OECD states. Madrid is the headquarters for most of the international
organizations, chambers of commerce and diplomatic representations According to Fortune Global 500 (2009) report, Spain ranks fourth in
in Spain (the embassies and consulates of 95 countries are in Madrid). the EU and tenth in the world in terms of operational headquarters of
leading global companies. More impressively, Madrid ranks third in
The Region of Madrid is also the home for the headquarters of several
Europe and seventh in the world.
global entities such as the World Tourism Organization, the
International Olive Council, the U.N. High Commission for Refugees Lastly, the Region of Madrid is also home to the nerve centers of two
and the Office of the League of Arab States. of the leading banks in the world -- BSCH (º3rd) and BBVA (5th). Also,
various multinationals, among them American Express, Daimler
Madrid also hosts the Spanish representation of European
Chrysler, Ericsson, IBM, Roche, Kraft Foods, Toys-R-Us and Electronic
organizations such as the European Commission, the European
Arts have chosen Madrid as the preferred location for their shared
Parliament, the European Investment Bank, the European Space
service centers.
Agency or the EU Satellite Centre.

Business Activity
Foreign Investment
With the headquarters for 511,804 businesses in operation, the Region
Spain is the sixth inward investment destination in the world and from
of Madrid is home to the largest and most dynamic concentration of
2000 to 2008 the Region of Madrid received 63% of the foreign direct
enterprises in Spain. Madrid is also the driver and leader of the
investment into Spain.
national economy. It is the leading Spanish region in business
generation: 20,254 new businesses were established in 2008,
representing 20% of the national total.

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In 2008, Madrid received 83% of the total inward direct investment
into Spain, increasing and strengthening its leadership position as an
investment destination.

Foreign Investment

Over the last ten years, Madrid has consolidated its position in Spain as the
preferred destination for foreign investors.

In 2008, Madrid received 83% of the total direct inward investment for Spain (29
billion euros).

Madrid attracts more foreign companies than any other region in Spain.

Over 4,500 foreign companies operate in the Region of Madrid and
account for the direct employment of 360,000 people. These numbers
position Madrid as the premier region in terms of employment
generated by foreign companies (28% of the national total) and as the
preferred destination for new investment projects.

The Region of Madrid accounts for 17.6% of Spanish foreign trade,
which coupled with its leadership position in inward foreign direct
investment, makes Madrid Spain’s international business center.

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3. EXCEPTIONAL HUMAN CAPITAL Excellence in Education and Training

To succeed in the globalised world we live in, it is essential to The Region of Madrid’s educational system, at both compulsory and
understand our business partners, the needs of a demanding and higher level, stands out for its strong practical and international
multicultural market and to adapt swiftly to change. Having at our character preparing the young for the demands of the competitive and
disposal a qualified, adaptable and diverse human capital is one of the global world we live in.
key reasons behind our region’s success.
Each year, close to 33,000 university graduates and about 1,400 PhDs
A region that supports diversity benefits from it in many ways. enter the work force. In total, there are over 270,000 students
Integration is vital for social harmony and economic development. Of enrolled in Madrid universities, 16% of the total for Spain.
all the foreigners living in Spain, 19% have chosen Madrid. Accepting
cultural differences favors innovation and the generation of new ideas It is important to point out that Madrid offers programs of excellence
and, in the end, success. In Madrid, we understand that diversity in the and reknowned prestige in certain areas such as engineering. Due to
work environment improves client services. this prestigious position, 20% of the graduates of the region choose to
study engineering, and 17% of the engineering degrees in Spain are
Qualified Active Population obtained at Madrid universities.

Madrid has the highest active population rate in Spain, 65% or a work
An Open and Diverse Environment, Ideal for Global Businesses
force of 3.4 million, from a total population of 6.2 million inhabitants.
The percentage of people in the workforce is higher than in regions An open and welcoming region: approximately 50% of the population of Madrid
such as Île de France, Inner London, Upper Baviera, Berlin or Vienna. was born outside the region and 17% are foreign.

Nationalities and languages: There are more than 180 nationalities in Madrid.
This makes for a very unique environment, with an excellent human
50% of the population speaks a second language, and English is the most spoken
capital in which over 40% of the work force has a university degree, a after Spanish.
percentage well above the average for Spain (32%) and the EU (26%).
International students: Madrid is the Spanish region with the greatest number of
foreign university students. 23% of the foreign university students that come to
Spain choose Madrid.

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Diverse Human Capital

Madrid is the Spanish region with the greatest number of non-university foreign
students (an average of 6,500 a year). These students enrich Madrid’s multicultural
character, and, along with the resident foreign population, they also provide a solid
base of human resources capable of working in several languages and of adapting to
the demands of the various cultures in the current business market.

The Region of Madrid is undoubtedly appealing to foreign talent: it receives almost
5,000 Erasmus students a year, 18.1% of Erasmus students who come to Spain.”

Excelling in Financial and Business Studies

Some of the most prestigious business schools are based in Madrid.
Three of these schools (IE, IESE y ESADE) are among the ten most
prestigious business schools in the world. Others such as ESIC, CEF, IEB,
ICADE or the EOI, are so well recognized internationally that in some of
their programs 70% of the students are foreign.

Financial Times (2009) ranked the Instituto de Empresa as the leading business
rd
school in Spain, the 3 in Europe and the 6th in the world for its MBA program.
Also three business schools with campuses in Madrid (IE, IESE y ESADE) were
included in the ranking with their full time MBA programs among the top 20 in the
th th th
world: IE 6 º place, IESE 12 place and ESADE 18 place.

ESADE is the best international business school according to The Wall Street Journal
(2008).

Beginning in 2011, the London School of Economics will open its first campus
outside the UK in Majadahonda.

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4. THE PLACE TO BE The rollout of the high speed train network, with almost 1,500
kilometers, provides Madrid quick and efficient access to the principal
Madrid’s geographical situation at the heart of Spain and as the
cities and travelers can reach Barcelona, Valladolid, Seville and Malaga
center of the Iberian Peninsula (56 million inhabitants), its proximity
in a matter of 2 or 3 hours. By the year 2012 the high-speed rail track
to Northern Africa and its important links to Latin America gives the
will expand to 2,200 km and by 2020 to almost 10,000 km.
region direct access to a potential market of 1.3 billion people. Its
excellent travel connections provide easy access to the most Furthermore, the subway system in Madrid, which has 16 lines and
important cities in Spain, Europe and the whole world. The world, 283 km, is admired all over the world and provides its 600 million
from Madrid, is a truly small world. passengers a year a safe, clean and fast form of transport throughout
the region.
Madrid is the 6th city in Europe for its international connections and
the fourth in terms of internal connections. In both rankings it comes Logistics Centers
first among Spanish cities.
Madrid’s excellent communications infrastructure includes 19 logistics
International Air Transport centers, most of which are located in the north east in the Barajas
Coslada logistics platform and in the Corredor de Henares, and to the
Madrid-Barajas airport is at present the fourth largest in Europe and
south in the metropolitan area.
11th in the world in terms of passengers (over 50 million a year). The
construction of the impressive Terminal 4 has doubled the airport’s The most important is the Barajas-Coslada logistics platform, which
capacity and could handle a flow of 70 million passengers a year, which comprises the cargo Terminal for Barajas Airport and the Dry Port at
would make it Europe’s second largest airport by capacity. Coslada. With its 120,000 m2 of installations, the Dry Port is the only
distribution center that receives cargo trains from the five main ports
Madrid will soon have two new airports: one for cargo and low cost
in the Iberian Peninsula: Valencia, Barcelona, Bilbao, Algeciras and
airlines in Campo Real, and the other for private use in El Álamo.
Lisbon.
Domestic Transport

Madrid is at the center of a radial highway system and railroad
network that makes it easily accessible to other important cities in the
Iberian Peninsula and in Europe.

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Main logistic centers Madrid has become the region of choice in Spain for the Latin
Tres Cantos 16
American population, and 46% of the foreign residents in the region
1 Coslada Transport Center

A-6
M-607
San Sebastián
de los Reyes A-1 Coslada Logistic Platform and (464,662) are Latin American.
2 Dry Port
Alcobendas 17
14 3 Barajas Air Cargo Center

Las Rozas R-2 4 Abroñigal Renfe Terminal Political Relations
Majadahonda
Barajas airport
15 5 Mercamadrid
Alcalá de
3
Pozuelo de
Madrid
A-2
Henares 6 Madrid Transport Center
There are numerous bilateral agreements and treaties in force between Spain and
7 Vicálvaro Renfe Terminal

Boadilla
Alarcón
1 2
Torrejón
de Ardoz
8 Villaverde Renfe Terminal
Latin America that promote and regulate trade relations between the signatory
del Monte
M-30
Coslada San Fernando
de Henares 9 Neisa Sur countries:
4 7 10 CADSI
A-5 M-40
6 11 Carpetania Logistic Center - Spain has 68 double taxation treaties in force, 11 of which are with Latin
Alcorcón 5
12
Móstoles M-45
8 R-3
Logistic Center Madrid Sur
American countries.
Leganés 13 Automotive City
9
Getafe 14 Logistic Center Madrid Este
13
Fuenlabrada 12
11 A-3
Arganda 15 Prologis Alcalá
- Spain has 69 Agreements for the Reciprocal Promotion and Protection of
M-50 10 del Rey
R-5 16 San Agustín de Guadalix Investments in force (APPRIs in Spanish), 18 of which are with Latin America.
A-4 17 Meco Logistic Center
Pinto
Parla
18 Las Canteras Industrial Park

A-42 18 19
March 2008 19 La Sendilla Logistic Center
R-4

Of the foreign student body currently in Spain, 24% of university
Business Center with Latin America students, 43% of those in Masters programs and 45% of PhD
candidates are Latin American. In the Region of Madrid, 21% of the
For over five centuries Spain has nurtured a close-knit relationship university students and 30% of PhD candidates in Spain are Latin
with Latin America, with a shared language and culture as well as American.
international trade relations. Spain’s accumulated experience in trade
and investment with Latin America has made it a natural springboard Many European and multinational firms have seen the benefit of using
for European and Latin American companies to consolidate businesses this well grounded platform of Spanish trade relations to access Latin
in both directions. Also, with over 400 million speakers, Spanish is the American markets.
official language in 21 countries and the third most widely spoken
language in the world. In the US alone, where it is the second most
studied language, the population of Spanish-speakers surpasses the 40
million mark.

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- European and US companies with headquarters for Latin American
operations: Alcatel, British Telecom, Micro Focus, Best Doctors, Atlantic
Copper, Qualcomm, Software AG, Wincor Nixdorf, Jones Day, Transcom…

- Latin American company headquarters for Europe: Cemex, Pemex, Petróleos
de Venezuela, Alpargatas, Reynolds Ventures…

Companies are increasingly aware of the benefits the Region of
Madrid’s experience and know-how as an investor in Latin America
offers and European firms continue to establish their centers for Latin
American operations here. Latin American multinationals see Madrid
as the perfect location to penetrate the European market and many
have set up offices to target this market from Madrid.

Investment Position

Spain is the second greatest investing country in Latin America.

67% of Spanish investment in Latin America comes from the Region of Madrid.

Many economic, logistical (Barajas operates 30% of the flights
between Europe and Latin America), tax and human resource factors
provide competitive advantages for companies establishing a decision-
making center in Madrid.

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5. LEADERS IN INNOVATION
The infrastructure in place, investment made and human capital Furthermore, the Region of Madrid is the headquarters for the eight
available in science and technology position Madrid as a center Spanish Royal Academies: the Royal Academy of Language, the Royal
of excellence for research in various areas. Several Academy of Fine Arts of San Fernando, the Royal Academy of History,
multinationals have established their R&D centers in Madrid, the Royal Academy of Sciences, the Royal Academy of Moral and
which along with the network of science and technology parks Political Sciences, the Royal Academy of Medicine, the Royal Academy
has turned Madrid into an international point of reference as a of Jurisprudence and Legislation and the National Royal Academy of
center of excellence for science. Pharmacy.

Infrastructure for Science Map of the Science and Technology Parks of the Region of Madrid

The Region of Madrid is the headquarters for 48 of the 136 research Science and
technology parks
centers and institutions of the Consejo Superior de Investigaciones
Parque Tecnológico
Científicas (CSIC- Main Council for Scientific Research), the main public de Madrid
Ciudad del Conocimiento
Ae BS ICT In
Ae BS ICT En O
research organization in Spain. Tres Cantos Colmenar Viejo Science and technology park

Park under construction

Tecnotrescantos
Parque Científico
Madrid is also the headquarters for a broad network of private and Bioparque
BS de Madrid
Parks associated to a
university
BS ICT En Ev Nt
Tres Cantos
public R&D centers such as the Health Institute at Carlos III University, Madrid - Cantoblanco Ch
Tecnoalcalá
ICT BS
Alcalá de Henares Ae
the Energy and Environment Technology Research Center, the National
Aerospatial
Montegancedo
Ae BS ICT BS Biotechnology and life sciences

Aerospace Institute and the European Space Astronomy Centre. Boadilla del Monte
ICT
Information and Communication
Technologies
Madrid
Ev Environment
Tecnomóstoles Campus Sur Vallecas
The Region of Madrid actively supports the development of a network ICT En
Móstoles
O Au In O
Madrid - Vallecas
En Energy

Ch Chemicals

of technology and science parks that total 4,423,000 m2 (five In Industry and engineering

technology parks already in operation and six under construction). Parque Tecnológico
Ciudad de Madrid
Au Automobile

Tecnoleganés Tecnogetafe Nt Nanotechnology and materials
Ae En Au Nt O
ICT In Nt Ae ICT En In
Madrid - Villaverde O Other
Leganés Getafe

April 2009

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The Region of Madrid’s expenditure in R&D is the highest in the Human Resources
country: it represents 1.93% of the regional GDP, compared to the
national average of 1.27% and the EU average of 1.83%. As such Madrid is the third largest employer in Europe of professionals in high
Madrid is likewise the region that invests the most in R&D, accounting technology sectors.
for 28.9% of the total national expenditure in this area. Notably, Madrid has more than 43,000 researchers making it the
leading region in Europe, well above any other region and even of
Support of the Regional Government
member states such as Norway, Ireland, Hungary or the Czech
“Madrid Network” comprises more than 300 companies and institutions in an Republic (Eurostat).
interconnected web of parks which are structured around 11 clusters: aerospace,
graphic arts, audiovisual, automotive, biotechnology, financial, logistics, health Madrid is also the region in Spain with the greatest number of
and well-being, clean energy, safety and finally tourism. employees and trained staff in the following sectors: pharmaceutical,
The network o f M adrid Institutes f or A dvanced S tudies is t he new i nstitutional
33%; IT, 36%; biotechnology, 46% and aerospace, 57%.
body r esponsible f or t he collaboration b etween t he p ublic a nd p rivate s ectors i n
research and science in the following 8 areas of investigation: water, food, social
sciences, energy, materials, networks, nanoscience and software.

As a result of Madrid’s excellent infrastructure in R&D, 63.3% of the
leading ICT companies in Spain, 50% of medical technology companies
and 26% of biotechnology companies have their headquarters in the
region.

Several multinational corporations have chosen the Region of Madrid
to set up their R&D centers: Lilly, Pfizer, Sanofi-Aventis,
GlaxoSmithKline, Merck Sharp & Dohme, Janssen-Cilag, Hewlett
Packard, Atos Origin, Siemens, Motorola, IBM, Telefónica, Vodafone,
EADS and Boeing, among others.

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6. EXCELLENCE IN SERVICES The region excels in business tourism. On an annual basis some 4,000
conventions and meetings that bring almost 700,000 visitors are held,
The Region of Madrid has always been extremely active in the services
as well as more than 100 trade fairs. In total, Madrid accounts for 32%
sector. Ever since the reign of Philip II in the 16th century, Madrid has
of the business tourism in Spain.
provided services to other regions in Spain and even to other
countries. Today, Madrid’s traditional functions have expanded and Services Sector
the region has now become a significant center for service providers
2008 Deloitte Report. Analisys of Madrid as a Global Financial Center. “Madrid has
on an international scale.
become one of the leading financial centers in the world, on a par with other
global financial centers such as New York and London for bond trading and for the
Madrid’s principal economic sector is the services sector, generating
efficiency of its financial center”.
almost 80% of the regional GDP. With 2.4 million employees (17% of
the national total), the Region of Madrid has the greatest number of
professionals in the services sector of any region in Spain. This The 2008 Deloitte Report presents some very favorable results for
translates into greater accessibility to professional services in terms of Madrid as a global financial center. The report makes a thorough
availability and costs. analysis of services in the sector in Madrid, comparing the region to
other global financial centers such as Amsterdam, Brussels, Frankfurt,
Madrid has been recognized for its excellence in services related to
Geneva, Hong Kong, London, Miami, Milan, New York, Paris, Shanghai,
renewable energies, as well as retail and distribution, aerospace and
Tokyo o Zurich.
aeronautics, tourism services, and particularly related to professional
services. Among the professional services that are particularly Madrid stands out equally in the field of education and training;
outstanding are those rendered to the financial and banking world, as according to the Financial Times, it ranks second only after New York
well as legal, advertising and marketing services, management for executive and professional training in the financial sector. It is
consultancy, education, professional cleaning and security. hardly a surprise that 16 of the 20 leading world banks have operations
in the Region of Madrid.
The Region of Madrid also has a solid industrial base which accounts
for almost 11% of the regional GDP and in which we find principally Another of the region’s sectors of excellence is engineering. This sector
high technological content industries. accounts for 6.3% of regional GDP and the Region of Madrid is
headquarters to 25% of the engineering companies in Spain (4,503).
In 2008, Spain welcomed close to 60 million foreign tourists, making it
Also, Madrid generates 44% of national turnover (12,275 Billion Euros)
the third country in the world chosen as a tourism destination. That
and 42% of national employment (86,153 employees). Madrid
same year, the Region of Madrid received 9.2 million tourists.

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engineering companies specialize in Civil Engineering, Environment, Industrial production in the region centers on high technology content
Engineering, Building and Urban development. goods: chemical industry; electric, electronic and optical equipment;
and transport materials. These sectors account for more than a third of
Another leading sector is management consultancy, which accounts
Madrid’s industry (13%, 12% y 12%, respectively).
for 1% of regional GDP and employs about 90,000 people. Good
knowledge of clients and markets; financial capacity; and a good price- The Region of Madrid holds a position of industrial leadership and, for
quality ratio (20%-30% cheaper than its European competitors) are its example, in the paper, publishing and graphic arts sector Madrid is the
stamps of excellence. top region in Spain by number of companies and second for
employment. In the materials and electric, electronic and optical
The strong growth of management consultancy in Madrid has come sectors the region ranks second in terms of number of companies and
about through development of integral solutions for the many foreign employment, and in the transport materials and chemical industry it is
multinationals in the region, and the presence of a high concentration the second region by employment.
of Spanish public administration.

As to the ICT sector, the Region of Madrid is headquarters to 63.3% of
the leading companies in Spain, and of 29% of the total companies in
the sector. Furthermore, 62.5% of the telecommunications
employment in Spain is in Madrid (38,724 people).

Finally, it is important to cite the aerospace sector in Madrid, which
accounts for 65% of the total turnover for the sector in Spain and 3.3%
in Europe.

Solid Industrial Base

Industry accounts for 11% of Madrid’s GDP, with almost 27,000
companies operating in the region. Madrid is the second industrial
region in Spain, and the sector amounts to 13% of national industrial
GDP, as well as 10% of the employees in Spain.

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From 2000, the growth of real estate services has been enormous and
7. UNIQUE QUALITY OF LIFE these services have become more sophisticated, benefiting buyers and
Madrid not only offers great opportunities for investment as well as leasers. More than ever, home seekers approach real estate agencies
professional training and development but also a whole world to and companies to help them to solve their housing needs as well as
discover. The quality of life in Madrid is unique: it offers full their mortgage search.
international education from grade one and a first rate universal
Education
public health system and it is among the safest places in Europe to
live. The region offers a wealth of leisure, culture, sports and outdoor In 2004, the Region of Madrid introduced the Bilingual Schooling
activities for all ages. Three enclaves have been included in UNESCO’s Program, and gradually public and subsidized schools throughout the
World Heritage List for their importance to humanity and Madrid is region offer Spanish and English curriculum. Currently 250 schools
home to some of the most important art collections in the world. We offer this opportunity and the number is growing.
cannot forget the excellent choice of tapas, food & wine that abound
in traditional as well as fashionable bars and restaurants. Madrid is a There are almost 2,700 non-university centers in the region, half of
region and a home you will never forget. which are public. Of these, 48 centers offer official foreign programs,
mainly from other European countries, but also American, Chinese and
Housing Japanese.

The Region of Madrid has a broad residential offer that can meet all Safety and Crime
housing requirements and budgets. Its extensive transport network
reduces travel time through the region, and its highways and short Crime rates have dropped significantly over the last 20 years.
distance rail service connect the capital swiftly to the surrounding According to a Gallup report (2005), the crime rate in Spain fell 9%
villages. Within the city, the subway, buses, local trains and taxis between 1989 and 2005 and in the safety ranking of the European
provide swift and efficient access to all parts of town. This excellent Union the city of Madrid is the fifth safest in Europe. Mercer
transport infrastructure has facilitated the expansion of many luxury Consulting Personal Safety Survey in 2008 concludes that Madrid is
housing developments that are far, but within easy reach, from the ahead of cities such as New York, Rome, Athens or Peking when it
center and meet the high expectations of business professionals. comes to civilian safety.

17


Health nature, in one of Madrid’s most emblematic areas: the Paseo del
Prado. The route includes three major art galleries in succession: the
Madrid has a highly developed universal health system that offers Prado Museum, the Thyssen Bornemisza Museum and the Reina Sofía
medical care to all the people who are enlisted with the Social Security Museum and Art Center. The collections offer the public the chance to
authority. With its 87 hospitals and 35,768 doctors, Madrid is the enjoy masterpieces by Velazquez, Goya, el Greco, Picasso, Dalí, Miró,
region in Spain with the most comprehensive service. among several other Spanish and foreign artists.
Culture and Leisure Outdoor Activities
The Region of Madrid offers leisure opportunities to suit all tastes, For those who enjoy the outdoors, there are plenty of opportunities
with a broad range of options for tourists as well as residents. for being in contact with nature in the Region of Madrid, including
Tradition and modernity are the two pillars in which we frame each of horseback riding, kayaking, mountain biking and hiking.
the options: enjoy the latest musical on the Gran Via, our particular
version of Broadway, or get tickets for a production of Spanish classical Skiing
theatre or take in an experimental play or a performance in a foreign
Just 60 km from the capital city you will find the peaks of the Sierra de
language. In the summer months you can enjoy the pleasures of the
outdoor bars and restaurants or taste the traditional chocolate and Guadarrama Mountains, which are the location of the most popular ski
churros at dawn after a long night of revelry in the center of the city. resorts for Madrid residents, and which have produced some of
Spain’s most distinguished skiers. The Sierra has three resorts, two
Beyond the capital, each of the towns and villages in the region has its
own local fiesta, as well as musical events or theater productions and a with lifts, signposted pistes and technical/sporting facilities and a
tempting selection of bars, coffee shops and restaurants. cross-country ski track through the Peñalara Nature Reserve.

The region’s cultural opportunities range from prehistoric cave Golf
paintings to the latest contemporary art, as well as the ever popular The golf sector thrives at full throttle in this region which holds over
museums of science, technology, anthropology and history. 95,000 golfing permits, according to the Madrid Golf Federation
One of the most traditional walks in Madrid is now in fact an “artistic (www.fedgolfmadrid.com). There are 29 courses throughout the
triangle”, which offers visitors the chance to explore the history of art region, a large number of which are open to the general public.
and to enjoy one of the finest parts of Madrid. This route, known as Madrid holds the distinction of having the first course in Europe within
the "Paseo del Arte” or Art Walk, is unique in the world, and takes the city itself.
visitors on a path through paintings and sculptures, architecture and

18


The 18 holes of the National Golf Center
(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 residents, who are showing an interest in this sport
at a very 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 facilities on offer in the Madrid
region mean it is now available to everybody.

Climate

Madrid has a continental climate with four clearly defined seasons.
The average annual temperature is 16.4ºC: it rains an average of 63
days/year and the skies are completely clear approximately 97
days/year. In Madrid, the sun is almost always shining (the annual
average hours of sunshine: 2,769). For weather forecast, consult
http://www.inm.es/.

In 2008, the magazine Monocle, nominated Madrid as one of the most attractive
cities to live in.

Spain was nominated for the “Quality of Life Index” (uSwitch.com 2008) as the top
country in Europe for quality of life.

Finally, Spain was selected as the best place to work in the 2007 Financial
Times/Harris survey

19


competitive costs. From Madrid, you can make the most of
II. CONCLUSIONS
excellent political and institutional relations with Latin
1. Why Madrid for your global business? Madrid is a dynamic, America, and in particular you will be able to exploit the know-
competitive and prosperous free market economy with a how and accumulated experience in trade and investment
business-friendly environment that enables your investment to with Latin America.
reach its maximum potential. Furthermore, Madrid offers
businesses diverse, talented and highly qualified human 5. Why Madrid for science and technology? Madrid is
resources. recognized as a leading center of excellence in Europe in
various fields of science and technology. This is largely due to
2. Why is Madrid the right environment for you? Madrid brings an excellent network of facilities dedicated to study and
you the opportunity of developing your career in an active and research in the region (public and private R&D centers,
international labor market. Madrid offers the opportunity of universities and a network of technology and science parks), to
being where the decisions are made in Spain, right in the midst the work of researchers who live in Madrid, and to the support
of the headquarters of the leading companies and legal, of the Madrid institutions.
political and cultural institutions.
6. What services expertise can Madrid offer? Madrid has
3. Why Madrid to exploit your talent? In Madrid we appreciate traditionally been a services center. It has provided services for
diversity, and consider it to be essential to better ourselves centuries. Today, Madrid is a recognized hub of excellence that
each day. Madrid is an open and diverse region, and those you can benefit from.
who work here benefit from it in many ways. Madrid offers
one of the best educational networks in which nobody is a 7. What does Madrid offer you and your family? Madrid is often
foreigner and which, every year, is enriched by people coming ranked among the highest for its quality of life. This isn’t
here from all corners of the globe. surprising considering its international education programmes,
excellent health services, crime and safety record, and its
4. How does Madrid allow you to be well communicated with wealth of cultural, leisure and sporting activities and
the world? Madrid offers excellent regional, national and gastronomical delights… and of course the year-round blue
international transportation facilities. Its logistic centers make skies.
it possible to deliver goods and services efficiently and at

20

III. USEFUL WEB SITES
PromoMadrid www.promomadrid.com
Region of Madrid Official Site www.madrid.org
City of Madrid www.munimadrid.es
Madrid Chamber of Commerce www.camaramadrid.es
Madrid Institute for Development IMADE www.imade.es
Invest in Spain www.investinspain.org
National Statistics Institute INE www.ine.es
Ministry of Industry, Tourism and Trade www.mityc.es
Spanish Federation of Innovation and Technology Institutions FEDIT www.fedit.es
Ministry of the Treasury www.meh.es
Social Security Authority www.seg-social.es
Tax Authority www.agenciatributaria.es
Ministry of Labor and Immigration www.mtin.es
Secretary of State for Immigration and Emigration extranjeros.mtas.es
Ministry of Science and Innovation www.micinn.es
Central Bank of Spain www.bde.es
RENFE - National railway operator www.renfe.es
National airport operator AENA www.aena.es
Madrid Subway www.metromadrid.es
Madrid Tourist Board www.turismomadrid.es


IV. ABOUT PROMOMADRID
PromoMadrid, Desarrollo Internacional de Madrid, S.A., is a company that was established in 2004 by the Madrid Regional Government with the aim
of internationally developing the economy of Madrid, its companies and professionals. Shareholders include the Madrid Chamber of Commerce and
Industry, CEIM the Madrid Business Confederation-CEOE, and Caja Madrid.

To achieve its goal, PromoMadrid engages in activities to develop and promote trade and investment of local companies abroad, to attract and
consolidate foreign investment in the region and to enhance and promote the economic brand image of the Madrid Region internationally.

WARNING: Although we try to provide as much information as possible, the data we provide are not exhaustive. Should you wish to gain more details about any particular area,
please consult the list of useful sources at the end of this publication, which includes our web site (www.promomadrid.com).

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PromoMadrid
Desarrollo Internacional de Madrid S.A.

C/ Suero de Quiñones 34, 28002 Madrid
Phone 34 917 450 127
Fax 34 914 110 913
information@promomadrid.com
23
www.promomadrid.com

The Region of Madrid Information Kit

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