Market Intelligence Report Madrid 2011 | HVS
Madrid's GDP was more than 12% of that of the whole country and nearly 68% of that of the Comunidad Autónoma de Madrid (Greater Madrid). The unemployment rate in the first quarter of 2011 was 21,29%, taking the country close to the quite terrifying barrier of five million people out of work. In Madrid, the unemployment rate is approximately 4,5% lower than the average rate in the country.
The article guides the reader through the Urban Hotel Market of Madrid, dealing with the development of the market during 2010 and the beginning of 2011 with a view to the immediate future for the city. Spain has suffered badly from its own and the world's economic crisis and is still not out of the danger zone. This year GDP is expected to grow only 0,8% and to recover slowly over the next four years to reach a forecast growth rate of 2,20% in 2015. In 2009 (latest available data)
Madrid's GDP was more than 12% of that of the whole country and nearly 68% of that of the Comunidad Autónoma de Madrid (Greater Madrid). The unemployment rate in the first quarter of 2011 was 21,29%, taking the country close to the quite terrifying barrier of five million people out of work. In Madrid, the unemployment rate is approximately 4,5% lower than the average rate in the country.
About HVS
HVS, the world's leading consulting and services organization focused on the hotel, mixed-use, shared ownership, gaming, and leisure industries, was established in 1980. The company performs 4,500+ assignments each year for hotel and real estate owners, operators, investors, banks and developers worldwide. HVS principals are regarded as the leading experts in their respective regions of the globe. Through a network of some 60 offices and more than 300 professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. hvs.com.