Madrid, a competitive and constantly progressing city

From an economic perspective, Madrid plays a vital role in the Spanish economy and the European Union, partly because the main economic decision-making bodies are concentrated in the Spanish capital, and because it is the country's leading financial and services center and second largest industrial hub. As a result, Madrid is increasingly attractive to European business leaders as a location for establishing their businesses.

The globalization of the economy and the process of monetary unity in Europe mean that cities have to compete more and more with each other to attract companies that create jobs and wealth; hence our commitment and effort in recent years to make Madrid one of the most attractive cities in Spain and Europe for entrepreneurs.

José María Álvarez del Manzano, Mayor of Madrid

The capital of Spain is facing the changes that cities will experience in this century, preparing to address the challenges of the European Union and the globalized economy. In this immediate future, the General Urban Development Plan plays a decisive role. Four years after its approval, we can affirm that we were right to plan the urban future of 21st-century Madrid. We have a sound General Plan that prioritizes urban quality and the environment and guarantees the orderly development and growth of Madrid within a stable and secure legal framework for all social and economic stakeholders operating in the city.

In addition to residential development through the PAUs (Urban Development Plans), the largest housing project currently underway in Europe, along with a number of major projects such as the Southeast Infrastructure Plan, the Vallecas Expansion, Valdebebas, Recoletos, and the Manzanares Linear Park, among others, Madrid is preparing to play a leading role as a service city and financial center of the European Union. Madrid has the necessary land to accommodate high-quality developments, complemented by an excellent transport network that provides essential added value.

Its strategic position, as a bridgehead between Europe and Africa and the Americas, makes Spain's capital a major international transport hub for both passengers and goods. The expansion of Barajas Airport, Spain's busiest and Europe's fifth busiest, will allow it to handle around 70 million passengers annually. Its connection to the High-Speed Rail Network makes Madrid a region with exceptionally strong infrastructure, which should be leveraged to establish our capital as a leading international financial and services center.

I cannot conclude without mentioning one of the most ambitious and exciting projects for Madrid's future: our bid for the 2012 Olympic Games. We have a solid project, which enjoys the unanimous support of the City Council, the Community of Madrid, and all of Madrid's political, social, economic, and sporting forces. Much remains to be done, but I am convinced that, with hard work and the effort and enthusiasm of everyone, we will secure the bid for Madrid.