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The Region of Madrid Information Kit


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The Region of Madrid Information Kit

  1. 1. The Region of Madrid: a World of Opportunities © PromoMadrid, January 2010
  2. 2. 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. 2
  4. 4. The Region of Madrid: a World of Opportunities 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. 4
  5. 5. The Region of Madrid: a World of Opportunities 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). 5
  6. 6. The Region of Madrid: a World of Opportunities 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. 6
  7. 7. The Region of Madrid: a World of Opportunities 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. 7
  8. 8. The Region of Madrid: a World of Opportunities 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. 8
  9. 9. The Region of Madrid: a World of Opportunities 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. 9
  10. 10. The Region of Madrid: a World of Opportunities 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. 10
  11. 11. The Region of Madrid: a World of Opportunities 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. 11
  12. 12. The Region of Madrid: a World of Opportunities - 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. 12
  13. 13. The Region of Madrid: a World of Opportunities 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 13
  14. 14. The Region of Madrid: a World of Opportunities 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. 14
  15. 15. The Region of Madrid: a World of Opportunities 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. 15
  16. 16. The Region of Madrid: a World of Opportunities 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. 16
  17. 17. The Region of Madrid: a World of Opportunities 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
  18. 18. The Region of Madrid: a World of Opportunities 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 ( 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
  19. 19. The Region of Madrid: a World of Opportunities The 18 holes of the National Golf Center ( 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 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” ( 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
  20. 20. The Region of Madrid: a World of Opportunities 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
  21. 21. III. USEFUL WEB SITES PromoMadrid Region of Madrid Official Site City of Madrid Madrid Chamber of Commerce Madrid Institute for Development IMADE Invest in Spain National Statistics Institute INE Ministry of Industry, Tourism and Trade Spanish Federation of Innovation and Technology Institutions FEDIT Ministry of the Treasury Social Security Authority Tax Authority Ministry of Labor and Immigration Secretary of State for Immigration and Emigration Ministry of Science and Innovation Central Bank of Spain RENFE - National railway operator National airport operator AENA Madrid Subway Madrid Tourist Board
  22. 22. The Region of Madrid: a World of Opportunities 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 ( 22
  23. 23. The Region of Madrid: a World of Opportunities PromoMadrid Desarrollo Internacional de Madrid S.A. C/ Suero de Quiñones 34, 28002 Madrid Phone 34 917 450 127 Fax 34 914 110 913 23