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Madrid (Spain) 2004

Ideal for U.S. tourists, perfect for investors

Model of new terminal at Madrid's Barajas International Airport
Courtesy Patronato de Turismo

Every city has its moment: Paris in the Belle Epoque, London in the Swinging 'Sixties. For Madrid it is today. "Madrid is living in exciting times," observes Pilar Martinez, city councillor in charge of economics."It's strategic, competitive, enterprising, imaginative, and is steadily establishing itself as the capital of Southern Europe."

The city has an unmistakable air of self assurance, and no wonder. It has a growth rate higher than the European Union average. Because it offers investors a dynamic business environment and a highly trained labor force, more than half the multi-national corporations based in Spain are located around Madrid. Tourists are attracted by its rich cultural texture, its lively night life and its fine restaurants. And its soccer team -- Real Madrid -- is widely regarded as the best in the world.

What adds to its charm is Madrid's respect for its past in a changing world. In fact, past and present will come together in May when Prince Felipe, the Spanish crown prince, is married in Madrid. The royal wedding will be a rich panoply of high dignitaries in grand uniforms, halberd carrying royal guards, and an escort of mounted cavalry for the procession by coach to and from the church. But in another sense the occasion couldn't be more contemporary. Prince Felipe, A Georgetown university graduate, is marrying Dona Letizia Ortiz, a thoroughly modern-minded former television news anchor.

In lighter vein, there are such charming traditions as the annual parade through the streets of Madrid on a designated Sunday in October of hundreds of sheep.The "parade" blocks city traffic for hours, but Madrilenos understand its significance. The custom commemorates the time in the distant past when wool was a major factor in Madrid's thriving economy.

Madridlenos pride themselves of being able to think outside the box. The Prado Museum's young new director, Miguel Zugaza, shocked purists recently by mounting an exhibition of works by a contemporary artist in the hitherto exclusive showcase of Spain's Old Masters. Young chefs are turning traditional recipes upside down to create an imaginative cocina de fusion. Spanish wines have reached levels of quality that has French vintners looking nervously southwards.

In a sense, Madrid is reliving a modern version of its past. In the 17th century Spain was a world power and Madrid the center of a colonial empire. That empire, of course, is long since gone, but Madrid has acquired a new international importance and with it a renewed confidence thanks to Spain's deft positioning in the world community.

Spain has found its voice in the European Union. It has emerged with a special relationship with the United States that seems to challenge the Anglo-American version. Above all it is trying to reclaim old ground as the cultural and historical source of the Hispanic world, not just in Latin America, but among Hispanics in the United States.

"Madrid is already active in Latin America, and Spain has a strong desire to create a strong relationship with the Spanish communities in the United States," points out one Spanish official. "Forty million Hispanics in the United States represent an enormous potential. This is a human group that's very, very interesting for Spain."

Madrid's bid for the summer Olympic Games of 2012 is seen as another way of enhancing its international importance. Financial gain doesn't always follow from hosting the games, but a degreee of fame is assured. "The Olympics give you a chance to do many things, such as build infrastructure, attract investments," observes the official. "Barcelona was transformed by the 1992 Olympics. The whole city was really an actor."

Significantly, Madrid's main rivals for the games are London, NewYork, and Paris. This, too, is appropriate as far as Pilar Martinez is concerned. "Madrid does not compete with Barcelona," she says. "Madrid competes with London and Paris. That is the real context of our effort."

 



  Patronato Municipal de Turismo
  Madrid,Municipality Department of Economy
  IBERIA Airline
  Feria de Madrid (IFEMA)
  Campo de Las Naciones, Madrid
  Mercamadrid
  Project Director
  Ted Macauley
  Senior Writer
Roland Flamini

 

 

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