Even though the city is a famous travel destination offering an amazing cultural experience with some of the most impressive art collection displayed in Madrid museums, it is important not to neglect the fact that Madrid is an urban, fast-growing city, which represents a significant part of the business world in this part of Europe.
Being an influential accommodation provider and offering apartments in the center of Madrid, we have direct experience with travelers, and we get their feedback on how and why they travel to Madrid.
Being such an important business hub of the Iberian Peninsula, Madrid is an excellent choice to grow, present, develop and promote your business. You will get the opportunity to develop professionally, to learn from the business leaders and to nurture skills that are necessary in the modern business world.
Why is Madrid considered a business hub?
Ever since it became the capital of Spain in the 16th century, Madrid has been growing. The population has continuously been on the rise, and so has the infrastructure needed for such a growing population. Being the country capital, certainly made the city an essential center for numerous events, festivities, and in general, it became a desirable place to live in.
The industrial sector started to develop more prominently in the 20th century, which made the city economy and influence even stronger. Modern times have brought a shift in the city economy, so the sector that dominates currently is service sector. This means that business services such as research and development, information technology and accountancy are some of the services that contribute the most to the gross value of Madrid’s economy.
The contribution of the four most important business sectors to the city economy:
- Services to business (14.5%)
- Transport & communication (14.3%)
- Property and rental (11.5%)
- Financial services (11.5%)*
What is also obvious from the figures above is a significantly large stake transport and communication sector has on the city economy. Construction of road, regional highways, high-speed rail, and high-standard public transport in the city are all the elements of national transport infrastructure. Of course, another important factor, especially when it comes to international businesses is Madrid Airport. It is the fourth largest airport in Europe, it represents a major transport hub in this part of Europe, and it has a significant contribution to the city’s economy.
Trade fairs are imporant part of city life in Madrid. There are events organized every single week throughout the year, with fairs, business exhibitions, workshops and conferences on different topics and for businesses of different sizes.
Trade Fair Institution of Madrid
Trade Fair Institution of Madrid (IFEMA) is the institution that organizes a large percentage of business events. It represents the core of the business scene and hosts events for different sectors while promoting Madrid as the business hub. The institution drives the city’s growth and influence in the business sector and contributes in various ways to the city’s economy. The institution operates in other continents, especially in Asia and America, which gives a great credibility and international aspect to this organization and its role in the business life of Madrid.
A large portion the events are hosted at the Feria de Madrid venue, one of the most important business venues in the city with a capacity to host various types of events, with numerous halls, and auditoriums, etc.
Some of the most important business events organized by IFEMA for the next year include:
- FITUR International Tourism Trade Fair (Dates: 23rd – 27th of January, 2019)
- Mercedes-Benz Fashion Week Madrid (Dates: 25th – 30th of January, 2019)
- GENERA Eneergy and Environment International Trade Fair (Dates: 26th of February – 1st of March, 2019)
- HydroSensoft International Symposium and Exhibtion of Hydro-Envrironment Sensors and Software (Dates: 26th of February – 1st of March, 2019)
- WATM Congress The largest Air Traffic Management exhibition and industry forum in the world (Dates: 12th – 14th of March, 2019)
- MOTORTEC AUTOMECHANIKA MADRID Spain’s leading international trade fair for the automotive industry targeting trade visitors from the Iberian Peninsula, Latin America and North Africa (Dates: 13th – 16th of March, 2019)
- FARMAFORUM + Biotechforum + Cosmeticaforum + Labforum
- Forum Pharmaceutical, Biopharmaceutical, Cosmetics and Technology Laboratory (Dates: 28th – 29th of March, 2019)
- SIMA Madrid International Real Estate Exhibition (Dates: 30th May – 2nd of June, 2019)
- GamerGy E-sports & Gaming Festival (Dates: 21st – 23rd of June, 2019)
- MADRIDJOYA International Urban and Trendy Jewellery and Watch Trade Fair (Dates: 11th – 15th of September, 2019)
- EXPOTURAL The Nature, Climate and Sustainable Tourism Fair (Dates: 31st October – 3rd of November, 2019)
- BIOCULTURA Organic Products and Responsible Consumption Fair (Dates: 7th – 11th of November, 2019)
Digital Business World Congress (DES2019)
This is one of the largest business events organized in Madrid. Next year, the Digital Business World Congress will host 450 international speakers. Having in mind the role of digital in today’s business, this kind of event gives you an opportunity to learn from the business leaders in the digital world. You will meet influencers, listen to the executives from international companies and you will get to understand the digital economy and how this business model affects the way companies do business nowadays. You will get to learn about new practices and strategies that work, along with gaining an understanding of tech concepts such as artificial intelligence, cloud computing, machine learning, cybersecurity, etc.
Different sectors, from health to banking from retail to agriculture, all gather for such an event as the goal is to learn how technology has affected each of those sectors. The business models and strategies are continually evolving, and technological solutions that appear on the market only speed up these changes.
The goal of such an event is to offer solutions and techniques that can help to use technology in different sectors, to promote growth, increase competitiveness on the market and transform the traditional business models into businesses that keep up with modern technology and use it to their advantage.
Renowned international technology experts participate in the event allowing attendees to learn and meet the influential of the modern business world, to compare their experiences and discover the new advanced solution that they can use in their own businesses. The idea is to unite knowledge and expertise, to unite business leaders and to create a unique mindset where business professionals are no longer isolated, but they can learn from each other, they can support each other and develop technologies and strategies together.
Dates: 21st – 23rd of May, 2019
Previous year: Digital World Congress in 2018 gathered almost 21,000 visitors from 50 countries and gained a lot of influence and credibility for Madrid as the business event of the year. This kind of an event only further promotes Madrid as the business hub of the Iberian Peninsula.
Business travel to Madrid
Business travel is in many ways different from a regular journey. Even though it involves traveling to a different location, often times internationally, it still is a unique experience from traveling for leisure. Here are the most important elements that make business travel to Madrid unique.
Practical thinking when looking for accommodation in Madrid
When you plan a business travel to Madrid, you need to be practical. In terms of accommodation, you need to stay at a place which is convenient. Usually, such a place is an apartment in the center of the city of Madrid, if your business venue is in this part of the city. Some business travelers also love choosing accommodation which offers a good connection to the airport. This is especially important when flight arrival or departure is at the inconvenient time of the day (for example past ten in the evening).
Planning in advance
Business travels are not spontaneous, but instead, you usually have the exact dates planned in advance. A great benefit is that you get to organize everything in advance. There is no need for any rush decisions. It is also a great way to prepare for the journey when you know the schedule in advance.
Focusing on the business side of travel
This includes focusing on what business travel provides. While sightseeing and exploring the city of Madrid might be exciting activities, for those focused on the business side of travel, professional conferences, workshops, meetups, and networking events are much more appealing activities in Madrid. After all, the goal of business travel is to promote and develop your business skills, so any other cultural activities and sightseeing may or may not be a part of the itinerary, depending on how much free time a business trip involves.