Madrid has experienced remarkable economic growth in 2023, with a GDP of 181.28 billion euros, representing 12.4% of Spain’s GDP.
Madrid reinforces its position as a pole of social and economic well-being, with a GDP per capita in the city of 50,216 euros and generating 65.7% of the region’s wealth.
In June 2024 there were 2,338,015 workers affiliated to Social Security in Madrid, 4.9% more than in the same period in 2023, which represents an all-time high in the series.
11,119 foreign companies from 105 countries operate in Madrid, employing 1,125,637 workers. Up to July 2024, 80 greenfield projects have been announced in Madrid with an investment of 1,586 million euros and a forecast of 7,050 new jobs.
In the last year, and up to May 2024, 16,882 companies have been created, which is 4.9% more than the previous year, and more than 15% of the total number of companies created in the country as a whole.
Tourism recorded a 3.0% year-on-year increase in hotel overnight stays in June, with a cumulative twelve-month increase in 2024 of 6.3% more than in the previous year.
Madrid City Council closed 2023 with a surplus of 154 million euros, 517 million euros of cash surplus and a budget execution of 92.3%.
