As the capital of Spain, cosmopolitan Madrid is more than a tourist destination. It is one of the country's most important financial and economic hubs聽and consistently ranks as one of the top Spanish cities for job creation.
According to the Ministry of Labor and Social Economy, an average of 314 jobs were created daily in Madrid in 2024. Meanwhile, the number of聽unemployed persons聽fell by 3.7% (men) and 4.2% (women).
Madrid's economy
Madrid聽is Spain's largest and most densely populated city, with more than 3.4 million inhabitants鈥�81%聽are of Spanish nationality, and 19%聽were born in a foreign country.聽
The main sectors of economic activity in Madrid are services: commerce, transport, social services, business services, hospitality and health. Other important sectors include finance, telecommunications, cultural and publishing industries, freight transport聽and software development.
As one of Europe's leading tourist hubs, tourism is another important economic pillar.聽In 2024, it generated 8.6% of Madrid's GDP (Gross Domestic Product), making tourism one of the main drivers of the city's economy. Note that there will always be a demand for English speakers in the tourist industry.
Madrid is also a top international shopping destination, and there are increasing opportunities in the commercial field, especially for bilingual expats.
The labor market in Madrid
In December 2024, the number of聽unemployed individuals in Madrid stood at 284,029. This is the lowest number for this month since 2007 and the lowest since August 2008.
The situation in Madrid reflects the wider picture in the country, where the number of unemployed persons remains below 2.6 million people.
Good to know:
More than 22% of employees/freelancers work from home in Madrid.
Popular industries in Madrid and availability for expats
Expats who don't speak Spanish needn't fear looking for work in the Spanish-speaking capital. While the labor market can be challenging, multiple industries in Madrid favor English-speaking and multilingual applicants. Additionally, the greater the need for skilled workers (especially if in short supply), the easier it is for expats to find work and get visas in some fields. Information technology is a perfect example of an expat-friendly industry due to extreme worker shortages.
As the country's business center and an important financial hub, many multinational corporations and banks have offices in Madrid. Some international companies in the capital include Accenture, BBVA, Carrefour, Deloitte, IBM, KPMG, Netflix, Santander, Telefonica and Vodafone.
English teachers of all levels of expertise are in high demand in the city. Madrid is home to many language academies that prefer native English speakers over fluent locals. While a TEFL certificate or appropriate degree is needed to teach in a private school or university, academies sometimes include training for contracted teachers.
Important:
Following Brexit, UK citizens no longer have an automatic right to live and work in Spain. The only way to land a full-time job is by finding a role on 厂辫补颈苍'蝉听.
Useful link:
We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.
