IFEMA MADRID 's activity generates 5.779b.n euros in economy
MADRID – IFEMA MADRID has cemented its position as a major driving force behind economic, social, and cultural development in Madrid, helping to generate 5.779 billion euros of economic activity in the productive sectors as a whole and contributing to maintaining 47,691 jobs. These figures show an increase of over 13.2% in economic activity and 21.2% in employment compared to pre-pandemic levels caused by COVID-19, equating to 3.2% of the city's GDP and 2% of the region's GDP. These conclusions have been drawn from the Report on the Socioeconomic and Fiscal Impact of IFEMA MADRID in the Madrid Region and City drawn up by consultancy firm PwC with data from the institution referring to 2024.
'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', stated José Vicente de los Mozos, President of the IFEMA MADRID Executive Committee.
According to Daniel Martínez, executive vice president of IFEMA MADRID, the report 'confirms our institution's essential role in the economy and on employment in Madrid.' He emphasised that, 'for every euro of direct turnover attributable to the Institution, 25 euros 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'.
The significance of IFEMA MADRID's contribution was also underlined by Jordi Esteve, PwC's partner responsible for the Economics Department, who commented that 'the economic contribution of IFEMA MADRID's activity accounts for 2% of the region's direct output in the retail sector; 18% of the regional telecommunications sector, and 23% of the vehicle manufacturing industry in the region'.
The report prepared by PwC shows this was an excellent year for IFEMA MADRID with real economic data. In 2024, the organisation played host to 740 congresses, conventions, meetings, and musical and cultural events, involving over 34,400 exhibiting companies and attracting in excess of 4.06 million visitors. The revenue figure reached 230.2 million euros, marking its best-ever balance with a growth of 30%. Net profit rose to 18.6 million euros, representing a growth of 166% compared to the previous year, and EBITDA stood at 48 million euros, a 76% increase over 2023.
This significant boost to IFEMA MADRID's activity figures directly reflects its capacity to create wealth for the Region and the city. Moreover, based on the figures in this report, the economic impact per new domestic visitor is €809, while the presence of international trade professionals accounts for 1,582 euros. Likewise, each exhibitor from our country contributes 50,352 euros, a figure that rises to 73,568 euros in the case of exhibitors from abroad.
Impact by sectors
The growth of IFEMA MADRID's business also acts as a key driver of wealth creation across various productive segments of the region. Among the most benefited sectors, hospitality, manufacturing industry, and transport and storage account for 43% of the total indirect, catalytic, and induced contribution of the organisation to the regional economy. In terms of volume, this translates to approximately 1,029 million euros in revenue for hospitality, 784 million euros for manufacturing industry, 556 million euros for transport and storage, and 461 million euros for retail trade.
High fiscal return
Furthermore, all economic activity and jobs supported by IFEMA MADRID have significantly contributed to tax revenue and social security contributions for the Public Administrations, as reported in the study. From a fiscal perspective, the activity of IFEMA MADRID and its associated effects generated a total contribution of 1.064 billion euros to public coffers in 2024, an amount equivalent to 3.9% of the budget of the Madrid Community. As Daniel Martínez confirmed, 'for every euro directly collected by IFEMA MADRID, 38 euros were generated in taxes and social security contributions across the regional economy, demonstrating its high fiscal return'.
The magnitude of the economic impact in the region
The report notes that the economic impact of the 5.779 billion euros generated by IFEMA in 2024 is comparable to that of pivotal strategic sectors within the regional economy. An illustrative example is that its contribution accounts for 57.5% of the direct output of the food industry, or 33% of the direct output of the hospitality sector.
Furthermore, IFEMA MADRID's contribution to employment in the region is significant and comparable to the population and workforce of some municipalities. Specifically, its total contribution of 47,691 jobs represents 96% of the population of the Barajas District in Madrid, 91% of all employees in Leganés, 86% of all employees in Alcalá de Henares, 77% of the population of Aranjuez, and 70% of all employees in the municipality of Getafe.
Madrid, the region with the leading trade fair activity in Spain
The study also includes a chapter on the trade fair sector in Spain, underlining the region of Madrid's leadership in this regard. As Jordi Esteve explained, 'It hosts one in every five trade fairs held in Spain and accounts for nearly 40% of the sector's turnover and employment', with IFEMA MADRID being the primary player in the trade fair sector within the Community of Madrid. He also emphasised that the Community of Madrid not only hosts more fairs and events than any other region of Spain but is also one of the most dynamic within the sector. In fact, Esteve added, '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.'
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