IFEMA Madrid's contribution accounted 2 pc of the region’s GDP
IFEMA Madrid, the largest exhibition centre in Spain’s capital Madrid, generated Euro 5.8 billion in economic activity and supported 47,691 jobs across Madrid in 2024.
In a press statement, IFEMA Madrid says that as per a socioeconomic and fiscal impact report, prepared by PwC, a consultancy firm, there was 13.2 pc increase in economic activity and a 21.2 pc rise in employment compared to pre-pandemic levels. Its contribution accounted for 3.2 pc of GDP and 2 pc of the region’s GDP.
It adds that each domestic visitor contributed EUR 809 in economic impact, while international trade visitors contributed EUR 1,582. Domestic exhibitors contributed EUR 50,352 each, with international exhibitors contributing EUR 73,568.
Daniel Martínez Rodríguez
“The report confirms our institution’s essential role in the economy and on employment in Madrid. For every euro of direct turnover attributable to the Institution, EUR 25 are generated in Madrid’s economic activity, and for every job directly linked to IFEMA Madrid, approximately 102 jobs are created and maintained throughout Madrid’s economy,” says Daniel Martínez, Executive Vice President, IFEMA Madrid.
As per statement, the main sectors impacted include hospitality, manufacturing, and transport and storage, accounting for 43 pc of the total indirect and induced impact. This translates to EUR 1.03 billion in hospitality, EUR 784 million in manufacturing, EUR 556 million in transport and storage and EUR 461 million in retail trade.
According to the Spanish-based venue provider, the economic impact of EUR 5.8 billion represents 57.5 pc of the direct output of the food industry and 33 pc of the hospitality sector. Additionally, the jobs supported by the entity are comparable to 96 pc of the Barajas District population, 91 pc of Leganés’ workforce, 86 pc of Alcalá de Henares’ workforce, 77 pc of Aranjuez’s population, and 70 pc of employees in Getafe.
The statement notes a total fiscal contribution of EUR 1.06 billion euro in 2024, equal to 3.9 pc of the Madrid Community’s annual budget.
Further, the Spanish venue provider says that the city remains the leading Spanish region in trade fair activity.
Jordi Esteve
“It hosts one in every five trade fairs held in Spain and accounts for nearly 40 pc of the sector’s turnover and employment. Madrid’s trade fair and events sector has not only recovered from the impact of Covid-19 but is also among the most dynamic at a national level,” says Jordi Esteve, Partner, Economics at Strategy, PwC.
“IFEMA Madrid is a key driver of the region’s economy, which forces us to continue growing and innovating, faithful to our commitment to further boost Madrid’s global projection and influence,” says José Vicente de los Mozos, President, Madrid Executive Committee, IFEMA.
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