Madrid is a real cultural gem, drawing visitors to experience its renowned museums, vibrant culinary scene, and lively nightlife, earning its rank as the third most visited city in Europe. Situated centrally in Spain, the country’s capital serves as a gateway to the Iberian Peninsula and Southern Europe, attracting a multicultural crowd and fostering innovation and entrepreneurship.
But how does Madrid fare in global rankings on economic competitiveness and sustainability performance, livability, city brand strength, and reputation?
Let’s take a closer look at:
- Economic competitiveness and financial performance
- How appealing it is for talent, visitors, and locals
- City brand strength and reputation
Economic Competitiveness
The Global Financial Centres Index 35 ranks Madrid 48th, between Lugano (47th) and Hamburg (49th). It ranks 19th in 2thinknow’s Innovation Cities Index 2022-2023, climbing a considerable 21 positions to now sit between Sydney (18th) and Amsterdam (20th).
City Brand Strength and Reputation
Brand Finance’s City Index 2023 positions Madrid 23rd, between Geneva (22nd) and Vienna (24th), reinforcing its overwhelmingly positive reputation and brand.
Resonance‘s 2024 World’s Best Cities Report places Madrid 13th, between Prague (12th) and Berlin (14th). The report highlights that, as Spain’s capital, Madrid strives to renew its infrastructure and public assets—most notably with the largest current urban regeneration project in Europe, the Madrid Nuevo Norte.
Kearney’s 2023 Global Cities Report ranks Madrid 12th, between Chicago (11th) and Shanghai (13th). Similar to other Southern European cities, its ranking has improved significantly and may potentially enter Kearney’s top ten in future reports.
The Global Power City Index ranks Madrid 14th, between Vienna (13th) and Shanghai (15th). In function-specific rankings, Madrid performs particularly well in Livability (2nd), Cultural Interaction (7th), Accessibility (14th), and Environment (15th).
How Appealing Is It for Talent, Visitors, and Locals?
The Mercer Quality of Living City Ranking places Madrid 46th, between Yokohama (47th) and London (45th). The same company’s Cost of Living Ranking places the city at 83rd, between Brazzaville (84th) and Brisbane (82nd). Compared to other European cities, the study finds that Madrid offers affordable, high quality of living.
In the Best Urban Cities for Digital Nomads ranking by Spotahome, Madrid ranks 7th, between San Francisco (8th) and Adelaide (6th). The city ranks highly in Migrant Acceptance, Quality of Coworking Spaces, and Average Rental Cost for a 1-Bedroom Apartment.
In 2024, the Times Higher Education Ranking placed the Autonomous University of Madrid in the 251-400 bracket, Complutense University in the 501-600 bracket, and Carlos III University in the 801-1000 bracket. The QS World University Ranking positions Complutense University 171st, the Autonomous University of Madrid 199th, and Carlos III University 319th.
Urban Sustainability
The Arcadis Sustainability City Index 2022 ranks Madrid 28th, between Philadelphia (29th) and Antwerp (27th). Its sustainability pillar rankings are the following: Planet 38th, People 9th, Profit 48th. The report indicates that the city provides an excellent quality of life and urban living.
Last updated in April 2024. Explore more city profiles here.
Enjoyed our summary of global rankings and indices on Madrid’s economic performance, its sustainability, attractiveness for talent, visitors, and locals, its city brand strength, and reputation? Thanks for sharing!
Disclaimer: The information in this article is intended to provide a general overview of Madrid’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided ‘as is’ without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.
