BusinessTravel Guide
MADRID
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The heart of Spain
M A D R I D
A city steeped in history and prestige, Madrid sits in the geographic and cultural heart of Spain, offering an unrivalled arts, culinary and nightlife scene Writer: Tom Wadlow
adrid – Spain’s city of water. A bustling modern-day economic and cultural epicentre, the origins of the Spanish capital can be traced back almost 1,200 years. The first historical record of Madrid dates back to the year 865 and the construction of a fortress by Emir Muhammad I at the village of Mayrit,
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which carries the literal meaning ‘plenty of waterways’. Fast forward to the present day, and the Manzanares River still flows through the heart of the city, providing a vital source of fresh water and a draw for visitors. Last year, around 6.7 million international tourists explored Madrid, taking in an enormous variety of sights, from the famed Museo Del Prado to
the Plaza de Toros Monumental de Las Ventas, the most prestigious bullring in the world. While no equivalent to enormous landmarks such as the Eiffel Tower and Colosseum are to be found here, the city is awash with architecture that traces back through the ages, from the medieval to the modern. Foodies also flock in huge numbers, embracing a wealth of
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MADRID
culinary experiences that combine the formidable traditions of Spanish cooking with modern gastronomic innovation which has transformed Madrid into one of the most vibrant culinary hubs in Europe. Add in the fact that there are more bars here than any city on earth, and there may be no better place to enjoy an evening on the continent.
FACTS & FIGURES Population (2017): GDP per capita (2017): Currency: Time zone: Dialling code: Internet TLD: Highest recorded temp’:
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3.3 million $37,940 Euro UTC+1 +34 91 .es 40.6 °C
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M A D R I D
The Business End LYING IN almost the exact geographic centre of Spain, Madrid is also the country’s major administrative and transportation centre.
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OVER THE course of the last century, it has also become an important industrial hub, only rivalled by Barcelona in terms of output. Key products produced include aircraft, vehicles, chemicals, processed foods and pharmaceuticals, alongside many other manufacturing industries. Beyond industry, Madrid is a vital provider of government, banking, publishing and tourism services, and is helping to stabilise Spain’s economy after years of well-documented hardship. According to the OECD, Spanish economic growth is set to remain moderate but robust over the
course of 2018 and 2019. Promisingly, corporate and household debt has been reduced by almost 55 percent of GDP since 2010. Although tourism only accounts for approximately seven percent of Madrid’s GDP (compared to 11 percent nationwide), it is a sector that is growing strongly. During the first eight months of 2017, international visitors to the city grew by 20 percent. Average stay is around seven to eight days, around twice as long as Spanish visitors, with Madrid often acting as a base from which to travel out to other cities.
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Out & About
100 Montaditos is a place where you can find cheap beer
IN THE field of hospitality, Madrid covers all bases. TripAdvisor alone houses more than 384,000 reviews for 445 hotels and covers a further 1,800 holiday rentals. From those looking to travel on a budget to visitors wanting to indulge in luxury, there are hotels to match every requirement – the Villa Magna, for instance, will set you back at least €390 a night. The restaurant and dining scene offers even greater choice. More than a million reviews have been
submitted for 10,000 places to eat on TripAdvisor, more than a third catering to local Spanish cuisine. Those looking to experience a taste of Spain should consider Los Montes de Galicia, the highest-ranked of all the city’s restaurants according to nearly 5,000 visitor reviews. Museums are also something of a Madrid staple. Art enthusiasts will want to visit the Museo ThyssenBornemisza, home to some of the most striking European artwork in the
world, including works by Van Gogh, Monet and Renoir. Other museum highlights include the National Archaeological Museum and the Naval Museum, detailing the formidable history of Spain’s maritime forces through the centuries. Madrid’s two footballing giants, Real and Atletico, also draw in thousands of visitors from around the world, with live football featuring some of the world’s finest players on most weekends during the Spanish La Liga season.
MADRID’S METRO provides quick and easy access to most parts of the city, including to other transport hubs such as the airport, bus stations and major rail stations. It runs every day of the week from 6am through to 1.30am and offers a range of choices regarding fares, from single trips to a combined ticket. The Metrobus card, much like a London Oyster card, is a prepaid system covering both metro and bus services. Alternatively, tourists can purchase special tickets allowing
unlimited use of metro, bus and local rail covering one, two, three, five and seven days with prices varying from around €8 to €70. For visitors enjoying the Madrid nightlife, night buses known as búhos, or owls, run from 11pm through to 7am at their peak coverage on Saturdays. Red-striped taxis are another popular option for tourists when travelling at night. Madrid Airport is also extremely well connected to other Spanish cities and international destinations.
PHOTO BY CCCHAN19 - FLICKR, CC BY 2.0
Transport Links
Serving a total of 221 destinations, recent additions include flights to Los Angeles, Palermo, Pula and New York, routes which will help the airport increase its passenger numbers beyond the 53 million it saw in 2017.
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M A D R I D
Outlook Recommends “No city on earth is more alive than Madrid” - Lonely Planet
HOTELS
RESTAURANTS
Juana Loco Only YOU Boutique Hotel Madrid ICON Casona 1900 The Principal Madrid
MUSEUMS
ACTIVITIES Parque Warner Five Mon-Keys escape rooms Santiago Bernabéu Tour
Sobrino de Botin
Hard Rock Café Museo ThyssenBornemisza Centro de Arte Reina Sofía Museo de la Catedral de la Almudena 6
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RETAIL Mercado de San Miguel Madrid Xanadu El Corte Ingles
Corral De La Moreria
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Landmark Attractions Museo Del Prado
“The Prado Museum is the crown jewel of one of the capital’s most visited tourist itineraries: the Paseo del Arte (Art Walk). Its walls are lined with masterpieces from the Spanish, Italian and Flemish schools, including Velázquez’ Las Meninas and Goya’s Third of May, 1808. Its collection comprises 8,600 paintings and over 700 sculptures.” – esmadrid.com
Palacio Real
“When the alcázar (muslim fortress) burned down on Christmas Day 1734, Felipe V, the first of the Bourbon kings, decided to build a palace that would dwarf all its European counterparts. Felipe died before the palace was finished, which is perhaps why the Italianate baroque colossus has a mere 2,800 rooms, just onequarter of the original plan.” – Lonely Planet
Gran Vía
“It’s difficult to imagine Madrid without Gran Vía, the grand boulevard lined with towering belle-époque facades that climbs up through the centre of Madrid from Plaza de España then down to Calle de Alcalá. But it has only existed since 1910, when it was bulldozed through a labyrinth of old streets.” – Lonely Planet
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BusinessTravel Guide joe.palliser@outlookpublishing.com
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