The Region of Madrid Information Kit

The Region of Madrid: a World of Opportunities

© PromoMadrid, January 2010


2

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.


3

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

CONTENTS


4

1. SYNONYMOUS WITH ECONOMIC PROSPERITY

Over the last decade, the Region of Madrid’s economic development 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 market economy.

Business Friendly Environment

The Regional Government fosters the entrepreneurial spirit through its business-friendly legal framework and tax regime, the simplification of establishment processes as well as institutional support.

Dynamic Economy

Madrid accounts for only 1.6% of the national territory, but its economy represents 18.8% of Spanish GDP. Furthermore, in 2008, the region’s per capita GDP surpassed €33,000 the highest in the country and well above (21%) the EU-27 average.

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.

Basic Facts about the Region of Madrid Area 8,030 km2 (1.6% of the national territory) Population 6.2 million (13.59% of the population of

Spain) 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 the world)

2008 GDP per capita €33,020 (21% above the EU-27 average, and 37% higher than the average for Spain)

Sources: National Statistics Institute, Madrid Statistics Institute, Eurostat (2008)

At present, the Regional Government supports entrepreneurs and foreign investors by:

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).

2. Developing non interventionist policies aimed to favor free enterprise.

3. Providing free advice during the set up stage for a business venture through PromoMadrid, as well as the development of incentives and aid programs.


5

According to the OECD, income tax (IRPF) is lower in Spain than it is in many other European countries such as France, Germany, the Netherlands, Italy, the Czech Republic and Poland. Also; Madrid has 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 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).

Finally, labor costs are significantly lower than those of other European countries and those of the U.S. (according to Eurostat data, Madrid is the city with the fifth lowest labor costs in the EU-15).

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%).


6

2. WHERE THE BIG DECISIONS ARE MADE In Spain, the big decisions are made in the Region of Madrid, where the principal legal, political and cultural institutions have their headquarters.

An International Political and Business Center

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 in Spain (the embassies and consulates of 95 countries are in Madrid).

The Region of Madrid is also the home for the headquarters of several global entities such as the World Tourism Organization, the International Olive Council, the U.N. High Commission for Refugees and the Office of the League of Arab States.

Madrid also hosts the Spanish representation of European organizations such as the European Commission, the European Parliament, the European Investment Bank, the European Space Agency or the EU Satellite Centre.

Business Activity

With the headquarters for 511,804 businesses in operation, the Region of Madrid is home to the largest and most dynamic concentration of enterprises in Spain. Madrid is also the driver and leader of the 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.

According to Fortune Global 500 (2009) report, Spain ranks fourth in the EU and tenth in the world in terms of operational headquarters of leading global companies. More impressively, Madrid ranks third in Europe and seventh in the world.

Lastly, the Region of Madrid is also home to the nerve centers of two of the leading banks in the world -- BSCH (º3rd) and BBVA (5th). Also, various multinationals, among them American Express, Daimler Chrysler, Ericsson, IBM, Roche, Kraft Foods, Toys-R-Us and Electronic Arts have chosen Madrid as the preferred location for their shared service centers.

Foreign Investment

Spain is the sixth inward investment destination in the world and from 2000 to 2008 the Region of Madrid received 63% of the foreign direct investment into Spain.

Headquarters for the leading companies

Madrid is the headquarters of 60% of the businesses in Spain with over 5,000 employees and 40% of the businesses with more than 1,000 employees.

Of the 55 Fortune 100 businesses present in Spain, 43 (78%) are in the Region of Madrid

Of the 35 IBEX companies, 27 (77%) have headquarters in Madrid.


7

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

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.


8

3. EXCEPTIONAL HUMAN CAPITAL To succeed in the globalised world we live in, it is essential to understand our business partners, the needs of a demanding and multicultural market and to adapt swiftly to change. Having at our disposal a qualified, adaptable and diverse human capital is one of the key reasons behind our region’s success.

A region that supports diversity benefits from it in many ways. Integration is vital for social harmony and economic development. Of all the foreigners living in Spain, 19% have chosen Madrid. Accepting cultural differences favors innovation and the generation of new ideas and, in the end, success. In Madrid, we understand that diversity in the work environment improves client services.

Qualified Active Population

Madrid has the highest active population rate in Spain, 65% or a work 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 such as Île de France, Inner London, Upper Baviera, Berlin or Vienna.

This makes for a very unique environment, with an excellent human capital in which over 40% of the work force has a university degree, a percentage well above the average for Spain (32%) and the EU (26%).

Excellence in Education and Training

The Region of Madrid’s educational system, at both compulsory and higher level, stands out for its strong practical and international character preparing the young for the demands of the competitive and global world we live in.

Each year, close to 33,000 university graduates and about 1,400 PhDs enter the work force. In total, there are over 270,000 students enrolled in Madrid universities, 16% of the total for Spain.

It is important to point out that Madrid offers programs of excellence and reknowned prestige in certain areas such as engineering. Due to this prestigious position, 20% of the graduates of the region choose to study engineering, and 17% of the engineering degrees in Spain are obtained at Madrid universities.

An Open and Diverse Environment, Ideal for Global Businesses

An open and welcoming region: approximately 50% of the population of Madrid was born outside the region and 17% are foreign.

Nationalities and languages: There are more than 180 nationalities in Madrid. 50% of the population speaks a second language, and English is the most spoken after Spanish.

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.


9

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 school in Spain, the 3rd 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 world: IE 6th º place, IESE 12th place and ESADE 18th 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.

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.”


10

4. THE PLACE TO BE Madrid’s geographical situation at the heart of Spain and as the center of the Iberian Peninsula (56 million inhabitants), its proximity to Northern Africa and its important links to Latin America gives the region direct access to a potential market of 1.3 billion people. Its excellent travel connections provide easy access to the most important cities in Spain, Europe and the whole world. The world, from Madrid, is a truly small world.

Madrid is the 6th city in Europe for its international connections and the fourth in terms of internal connections. In both rankings it comes first among Spanish cities.

International Air Transport

Madrid-Barajas airport is at present the fourth largest in Europe and 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 capacity and could handle a flow of 70 million passengers a year, which would make it Europe’s second largest airport by capacity.

Madrid will soon have two new airports: one for cargo and low cost airlines in Campo Real, and the other for private use in El Álamo.

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.

The rollout of the high speed train network, with almost 1,500 kilometers, provides Madrid quick and efficient access to the principal cities and travelers can reach Barcelona, Valladolid, Seville and Malaga in a matter of 2 or 3 hours. By the year 2012 the high-speed rail track will expand to 2,200 km and by 2020 to almost 10,000 km.

Furthermore, the subway system in Madrid, which has 16 lines and 283 km, is admired all over the world and provides its 600 million passengers a year a safe, clean and fast form of transport throughout the region.

Logistics Centers

Madrid’s excellent communications infrastructure includes 19 logistics 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 south in the metropolitan area.

The most important is the Barajas-Coslada logistics platform, which comprises the cargo Terminal for Barajas Airport and the Dry Port at 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 in the Iberian Peninsula: Valencia, Barcelona, Bilbao, Algeciras and Lisbon.


11

Main logistic centers

1 2

M-40

M-30

M-45

M-50

4

56

7

8

9

10

Madrid

Coslada

Pozuelo de Alarcón

Alcorcón

MóstolesLeganés

Pinto

Arganda del Rey

Torrejónde Ardoz

Alcalá de Henares

Boadilladel Monte

A-3

R-3

R-2

A-2

A-1A-6

A-4

A-42 R-4

R-5

A-5

1112

Getafe

Majadahonda

1Coslada Logistic Platform and Dry Port2

Coslada Transport Center

3 Barajas Air Cargo Center

4

Mercamadrid5

Abroñigal Renfe Terminal

6

Villaverde Renfe Terminal

7

CADSI

8

Madrid Transport Center

9

Carpetania Logistic Center

10

Vicálvaro Renfe Terminal

11

Logistic Center Madrid Este

12 Logistic Center Madrid Sur

13

Prologis Alcalá

14

Neisa Sur

15

Automotive City

16 San Agustín de Guadalix

16

15

14

13

Alcobendas

March 2008

17 Meco Logistic Center

Fuenlabrada

Las Rozas

Tres Cantos

Barajas airport

M-607San Sebastiánde los Reyes

18

18 Las Canteras Industrial Park

19 19 La Sendilla Logistic Center

3

Parla

17

San Fernando de Henares

Business Center with Latin America

For over five centuries Spain has nurtured a close-knit relationshipwith Latin America, with a shared language and culture as well as international trade relations. Spain’s accumulated experience in trade and investment with Latin America has made it a natural springboardfor European and Latin American companies to consolidate businesses in both directions. Also, with over 400 million speakers, Spanish is the 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.

Madrid has become the region of choice in Spain for the Latin American population, and 46% of the foreign residents in the region (464,662) are Latin American.

Of the foreign student body currently in Spain, 24% of university students, 43% of those in Masters programs and 45% of PhDcandidates are Latin American. In the Region of Madrid, 21% of the university students and 30% of PhD candidates in Spain are Latin American.

Many European and multinational firms have seen the benefit of using this well grounded platform of Spanish trade relations to access Latin American markets.

Political Relations

There are numerous bilateral agreements and treaties in force between Spain and Latin America that promote and regulate trade relations between the signatory countries:

- Spain has 68 double taxation treaties in force, 11 of which are with Latin American countries.

- Spain has 69 Agreements for the Reciprocal Promotion and Protection of Investments in force (APPRIs in Spanish), 18 of which are with Latin America.


12

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.

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.

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.

- 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…


13

5. LEADERS IN INNOVATION The infrastructure in place, investment made and human capital available in science and technology position Madrid as a center of excellence for research in various areas. Several multinationals have established their R&D centers in Madrid, which along with the network of science and technology parks has turned Madrid into an international point of reference as a center of excellence for science.

Infrastructure for Science

The Region of Madrid is the headquarters for 48 of the 136 research centers and institutions of the Consejo Superior de Investigaciones Científicas (CSIC- Main Council for Scientific Research), the main public research organization in Spain.

Madrid is also the headquarters for a broad network of private and public R&D centers such as the Health Institute at Carlos III University, the Energy and Environment Technology Research Center, the National Aerospace Institute and the European Space Astronomy Centre.

The Region of Madrid actively supports the development of a network of technology and science parks that total 4,423,000 m2 (five technology parks already in operation and six under construction).

Furthermore, the Region of Madrid is the headquarters for the eight Spanish Royal Academies: the Royal Academy of Language, the Royal Academy of Fine Arts of San Fernando, the Royal Academy of History, the Royal Academy of Sciences, the Royal Academy of Moral and Political Sciences, the Royal Academy of Medicine, the Royal Academy of Jurisprudence and Legislation and the National Royal Academy of Pharmacy.

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

Ae Aerospatial

Biotechnology and life sciencesBS

ICT Information and Communication Technologies

Ev Environment

En Energy

Science and technology park

Tecnoalcalá

Tecnomóstoles

Montegancedo

Tres Cantos

Getafe

Madrid

Parque Científico de Madrid

Park under construction

Colmenar Viejo

Leganés

Parque Tecnológico Ciudad de Madrid

Campus Sur Vallecas

Ch Chemicals

In Industry and engineering

Au Automobile

Nt Nanotechnology and materials

Ciudad del Conocimiento

Madrid - Cantoblanco

Alcalá de Henares

Madrid - Villaverde

Madrid - Vallecas

Tecnogetafe

Boadilla del Monte

Parque Tecnológico de Madrid

Tecnoleganés

Móstoles

O Other

Ae BS ICT In Ae ICTBS En O

Ch ICT BS

Au In O

Ae BS ICT

ICT En O

ICT In Nt Ae ICT En In Ae En Au Nt O

EvBS ICT En Nt

Parks associated to a university

April 2009

Science and technology parks

TecnotrescantosBioparque

Tres CantosBS


14

The Region of Madrid’s expenditure in R&D is the highest in the 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 likewise the region that invests the most in R&D, accounting for 28.9% of the total national expenditure in this area.

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.

Human Resources

Madrid is the third largest employer in Europe of professionals in high technology sectors.

Notably, Madrid has more than 43,000 researchers making it the leading region in Europe, well above any other region and even of member states such as Norway, Ireland, Hungary or the Czech Republic (Eurostat).

Madrid is also the region in Spain with the greatest number of employees and trained staff in the following sectors: pharmaceutical, 33%; IT, 36%; biotechnology, 46% and aerospace, 57%.

Support of the Regional Government

“Madrid Network” comprises more than 300 companies and institutions in an interconnected web of parks which are structured around 11 clusters: aerospace, graphic arts, audiovisual, automotive, biotechnology, financial, logistics, health and well-being, clean energy, safety and finally tourism.

The network o f M adrid Institutes f or A dvanced S tudies is t he new i nstitutional 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.


15

6. EXCELLENCE IN SERVICES The Region of Madrid has always been extremely active in the services sector. Ever since the reign of Philip II in the 16th century, Madrid has provided services to other regions in Spain and even to other countries. Today, Madrid’s traditional functions have expanded and the region has now become a significant center for service providers on an international scale.

Madrid’s principal economic sector is the services sector, generating 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 translates into greater accessibility to professional services in terms of availability and costs.

Madrid has been recognized for its excellence in services related to renewable energies, as well as retail and distribution, aerospace and aeronautics, tourism services, and particularly related to professional services. Among the professional services that are particularly outstanding are those rendered to the financial and banking world, as well as legal, advertising and marketing services, management consultancy, education, professional cleaning and security.

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 high technological content industries.

In 2008, Spain welcomed close to 60 million foreign tourists, making it the third country in the world chosen as a tourism destination. That same year, the Region of Madrid received 9.2 million tourists.

The region excels in business tourism. On an annual basis some 4,000 conventions and meetings that bring almost 700,000 visitors are held, as well as more than 100 trade fairs. In total, Madrid accounts for 32% of the business tourism in Spain.

Services Sector

The 2008 Deloitte Report presents some very favorable results for Madrid as a global financial center. The report makes a thorough analysis of services in the sector in Madrid, comparing the region to other global financial centers such as Amsterdam, Brussels, Frankfurt, Geneva, Hong Kong, London, Miami, Milan, New York, Paris, Shanghai, Tokyo o Zurich.

Madrid stands out equally in the field of education and training; according to the Financial Times, it ranks second only after New York for executive and professional training in the financial sector. It is hardly a surprise that 16 of the 20 leading world banks have operations in the Region of Madrid.

Another of the region’s sectors of excellence is engineering. This sector accounts for 6.3% of regional GDP and the Region of Madrid is headquarters to 25% of the engineering companies in Spain (4,503). Also, Madrid generates 44% of national turnover (12,275 Billion Euros) and 42% of national employment (86,153 employees). Madrid

2008 Deloitte Report. Analisys of Madrid as a Global Financial Center. “Madrid has 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 efficiency of its financial center”.


16

engineering companies specialize in Civil Engineering, Environment, Engineering, Building and Urban development.

Another leading sector is management consultancy, which accounts for 1% of regional GDP and employs about 90,000 people. Good knowledge of clients and markets; financial capacity; and a good price-quality ratio (20%-30% cheaper than its European competitors) are its stamps of excellence. The strong growth of management consultancy in Madrid has come about through development of integral solutions for the many foreign multinationals in the region, and the presence of a high concentration 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.

Industrial production in the region centers on high technology content goods: chemical industry; electric, electronic and optical equipment; and transport materials. These sectors account for more than a third of Madrid’s industry (13%, 12% y 12%, respectively).

The Region of Madrid holds a position of industrial leadership and, for example, in the paper, publishing and graphic arts sector Madrid is the top region in Spain by number of companies and second for employment. In the materials and electric, electronic and optical sectors the region ranks second in terms of number of companies and employment, and in the transport materials and chemical industry it is the second region by employment.


17

7. UNIQUE QUALITY OF LIFE Madrid not only offers great opportunities for investment as well as professional training and development but also a whole world to discover. The quality of life in Madrid is unique: it offers full international education from grade one and a first rate universal 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 activities for all ages. Three enclaves have been included in UNESCO’s World Heritage List for their importance to humanity and Madrid is home to some of the most important art collections in the world. We cannot forget the excellent choice of tapas, food & wine that abound in traditional as well as fashionable bars and restaurants. Madrid is a region and a home you will never forget.

Housing

The Region of Madrid has a broad residential offer that can meet all housing requirements and budgets. Its extensive transport network reduces travel time through the region, and its highways and short distance rail service connect the capital swiftly to the surrounding villages. Within the city, the subway, buses, local trains and taxis provide swift and efficient access to all parts of town. This excellent transport infrastructure has facilitated the expansion of many luxury housing developments that are far, but within easy reach, from the center and meet the high expectations of business professionals.

From 2000, the growth of real estate services has been enormous and these services have become more sophisticated, benefiting buyers and leasers. More than ever, home seekers approach real estate agencies and companies to help them to solve their housing needs as well as their mortgage search.

Education

In 2004, the Region of Madrid introduced the Bilingual Schooling Program, and gradually public and subsidized schools throughout the region offer Spanish and English curriculum. Currently 250 schools offer this opportunity and the number is growing.

There are almost 2,700 non-university centers in the region, half of which are public. Of these, 48 centers offer official foreign programs, mainly from other European countries, but also American, Chinese and Japanese.

Safety and Crime

Crime rates have dropped significantly over the last 20 years. According to a Gallup report (2005), the crime rate in Spain fell 9% between 1989 and 2005 and in the safety ranking of the European Union the city of Madrid is the fifth safest in Europe. Mercer Consulting Personal Safety Survey in 2008 concludes that Madrid is ahead of cities such as New York, Rome, Athens or Peking when it comes to civilian safety.


18

Health

Madrid has a highly developed universal health system that offers medical care to all the people who are enlisted with the Social Security authority. With its 87 hospitals and 35,768 doctors, Madrid is the region in Spain with the most comprehensive service.

Culture and Leisure

The Region of Madrid offers leisure opportunities to suit all tastes, with a broad range of options for tourists as well as residents. Tradition and modernity are the two pillars in which we frame each of the options: enjoy the latest musical on the Gran Via, our particular version of Broadway, or get tickets for a production of Spanish classical theatre or take in an experimental play or a performance in a foreign language. In the summer months you can enjoy the pleasures of the outdoor bars and restaurants or taste the traditional chocolate and churros at dawn after a long night of revelry in the center of the city. 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 tempting selection of bars, coffee shops and restaurants.

The region’s cultural opportunities range from prehistoric cave paintings to the latest contemporary art, as well as the ever popular museums of 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 Center. The collections offer the public the chance to enjoy masterpieces by Velazquez, Goya, el Greco, Picasso, Dalí, Miró, among several other Spanish and foreign artists.

Outdoor Activities

For those who enjoy the outdoors, there are plenty of opportunities for being in contact with nature in the Region of Madrid, including horseback riding, kayaking, mountain biking and hiking.

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.

Golf

The golf sector thrives at full throttle in this region which holds over 95,000 golfing permits, according to the Madrid Golf Federation (www.fedgolfmadrid.com). There are 29 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.


19

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

http://www.inm.es/�


20

II. CONCLUSIONS 1. Why Madrid for your global business? Madrid is a dynamic,

competitive and prosperous free market economy with a business-friendly environment that enables your investment to reach its maximum potential. Furthermore, Madrid offers businesses diverse, talented and highly qualified human resources.

2. Why is Madrid the right environment for you? Madrid brings you the opportunity of developing your career in an active and international labor market. Madrid offers the opportunity of being where the decisions are made in Spain, right in the midst of the headquarters of the leading companies and legal, political and cultural institutions.

3. Why Madrid to exploit your talent? In Madrid we appreciate diversity, and consider it to be essential to better ourselves each day. Madrid is an open and diverse region, and those who work here benefit from it in many ways. Madrid offers one of the best educational networks in which nobody is a foreigner and which, every year, is enriched by people coming here from all corners of the globe.

4. How does Madrid allow you to be well communicated with the world? Madrid offers excellent regional, national and international transportation facilities. Its logistic centers make it possible to deliver goods and services efficiently and at

competitive costs. From Madrid, you can make the most of excellent political and institutional relations with Latin America, and in particular you will be able to exploit the know-how and accumulated experience in trade and investment with Latin America.

5. Why Madrid for science and technology? Madrid is recognized as a leading center of excellence in Europe in various fields of science and technology. This is largely due to an excellent network of facilities dedicated to study and research in the region (public and private R&D centers, universities and a network of technology and science parks), to the work of researchers who live in Madrid, and to the support of the Madrid institutions.

6. What services expertise can Madrid offer? Madrid has traditionally been a services center. It has provided services for centuries. Today, Madrid is a recognized hub of excellence that you can benefit from.

7. What does 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.

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

http://www.promomadrid.com/�

http://www.madrid.org/�

http://www.munimadrid.es/�

http://www.camaramadrid.es/�

http://www.imade.es/�

http://www.investinspain.org/�

http://www.ine.es/�

http://www.mityc.es/�

http://www.fedit.es/�

http://www.meh.es/�

http://www.seg-social.es/�

http://www.agenciatributaria.es/�

http://www.mtas.es/�

http://extranjeros.mtas.es/�

http://www.micinn.es/�

http://www.bde.es/�

http://www.renfe.es/�

http://www.aena.es/�

http://www.metromadrid.es/�


22

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).

http://www.promomadrid.com/�


23

PromoMadrid Desarrollo Internacional de Madrid S.A.

C/ Suero de Quiñones 34, 28002 Madrid

Phone 34 917 450 127 Fax 34 914 110 913

[email protected] www.promomadrid.com

Documents

The Region of Madrid Information Kit