Overview
Madrid, the urban agglomeration, boasts the second-largest GDP in the European Union. Its significant influence in various sectors such as politics, education, entertainment, environment, media, fashion, science, culture, and the arts has solidified its position as one of the world's major global cities. With its strong economic output, high standard of living, and large market size, Madrid is recognized as the major financial center and the leading economic hub of the Iberian Peninsula and Southern Europe.
The metropolitan area is home to major Spanish companies like Telefónica, Iberia, BBVA, and FCC. It also serves as the primary location for banking operations in the country and holds the distinction of being the Spanish-speaking city with the highest number of webpages. In terms of innovation, Madrid ranks 19th globally and 7th in Europe among 500 cities, according to the 2022-2023 annual analysts Innovation Cities Index published by 2ThinkNow.
Moreover, Madrid houses the headquarters of prominent international organizations such as the UN's World Tourism Organization (UNWTO), the Ibero-American General Secretariat (SEGIB), the Organization of Ibero-American States (OEI), and the Public Interest Oversight Board (PIOB). It is also a significant center for Spanish language regulation and promotion, hosting institutions like the Standing Committee of the Association of Spanish Language Academies, the Royal Spanish Academy (RAE), the Instituto Cervantes, and the Foundation of Urgent Spanish (FundéuRAE).
The city is renowned for organizing notable fairs including FITUR, ARCO, SIMO TCI, and the Madrid Fashion Week. Additionally, Madrid takes pride in being the home of two world-famous football clubs, Real Madrid and Atlético Madrid.
While Madrid boasts modern infrastructure, it has successfully preserved the charm and character of its historic neighborhoods and streets. The city's iconic landmarks include the Plaza Mayor, the Royal Palace of Madrid, the Royal Theatre with its restored 1850 Opera House, the Buen Retiro Park founded in 1631, the 19th-century National Library building housing Spain's historical archives, numerous national museums, and the Golden Triangle of Art, etc.
Cheap Hotels in Madrid, Spain