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Doing Business in Madrid: Success Stories

Written by Emily Elwes

The international business community consistently looks for major hubs of commerce for expansion with existing infrastructure and workforces in place. Madrid is a major economic and commercial hub not only in Spain but also in Europe. This article will discuss the top five successful businesses in Spain and Madrid and the business climate of the capital city including the need for weekly rentals in Madrid.

Madrid Economy

madridMadrid is located centrally in Spain with the greater metropolitan area covering 10,000 km². With almost 7,000,000 people, Madrid is the largest city in Spain in the third largest city in the European Union. Since 2002, Spain has also adopted the euro as its currency. According to the European Cities Monitor Report, Madrid is the sixth best city in which to do business in the European Union thanks to its existing infrastructure and the availability of a skilled workforce all in a central location. Although Madrid is a telecommunications hub of Spain other sectors such as finance, insurance, media and publications and information technology play a significant role as well. With a well-established business community and dedicated business parks such as the main financial district of AZCA and Cuatro Torres Business  Area with some of the city’s largest businesses including Acciona, EADS Casa, Repsol, Telefonica and Endesa, Madrid is well-positioned for further economic growth.

Workforce and Infrastructure in Madrid

telefonica-madridAs the largest city in Spain, Madrid sports one of the best transport infrastructures in the country, as well as the European Union. With travel infrastructures in the road, train, rail and air, Madrid is well-positioned for major business seeking expansion. The largest and busiest airport of Spain is located only 8 km from downtown Madrid, is an international hub for flights to Europe, Asia, and the Americas as well as a dedicated daily consistent service to Barcelona. With two other airports expected by 2016 to handle larger passenger volumes, Madrid is positioned to become an even more important international hub. With two major rail hubs and 283 km of Metro track and a well-established road network getting to, from and around Madrid is easy. As a major cosmopolitan city with 18% of the population holding foreign passports and a large immigrant population, there is a consistent supply of unskilled labor. With many higher learning institutions including universities, colleges, and polytechnic institutes there is also a large proportion of skilled labor available as well.

Top Five Businesses Based in Madrid

top-five-businesses-madridThe top five successful companies in Spain and Madrid include Acciona, EADS Casa, Repsol, Telefonica, and Endesa. Acciona is best known for their renewable energy, water, infrastructure and services management divisions. EADS Casa a leader in satellite and space technology is on the cutting edge in composite materials. Repsol, a global leader in oil and gas exploration, production and delivery, is just completing a new state-of-the-art global headquarters in Madrid. As the largest telecommunications provider in Spain, second largest company in the country and 78th in the world, Telefonica is a force to be reckoned with. Endesa is another massive energy conglomerate.

Find a monthly rental in Madrid and start your career in one of the busiest commercial hubs in Europe with any of these five successful businesses in Spain and Madrid.

About the author

Emily Elwes

Emily is a freelance content editor & manager living & working in Barcelona. She's passionate about food, drink, language and collaborative consumption.

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