• Madrid Investment Attraction
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Business services

At a glance

  • 22% of consultancy firms in Spain
  • 26% of companies with 100+ employees
  • 35% of the advanced business services sector
  • 520,000+ companies in greater Madrid area

Greater Madrid has more than 520,000 companies, 16% of the national total (INE-DIRCE).

In particular, its the natural home for big companies: Madrid has 26% of the companies in Spain with 100+ employees. Notably, some of these are big construction companies responsible for significant projects worldwide, such as the Medina-La Meca speed train and the expansion of the Panama Canal.

In order to maintain competitiveness and productivity to international standards, these companies require high value added services, such as engineering, programming and software development, technology consultancy, business advice, human resources, marketing, etc. Madrid’s well-developed economy is focused on this sector.

More than 35% of advanced business services are concentrated in Madrid.

For instance, 22% of the consultancy firms in Spain are here. Looking at only consultancy firms with 100+ employees, it jumps to 50%. Similar numbers are found in advertising, administration and legal services.

Number of services companies in Madrid and Spain

Group Companies in Spain Companies in Madrid % in Madrid % in Madrid (companies with more than 100 employees)
Business services 324,620 76,880 23.7% 50.1%
Education and healthcare 251,608 48,140 19.1% 26.0%
Real estate 168,540 31,384 18.6% 53.7%
Engineering, architecture, research 115,783 23,787 20.5% 37.1%
Other services 80,469 19,553 24.3% 32.7%
Financial services 77,340 14,247 18.4% 58.5%
Total 1,018,360 213,991 21.0% 36.7%

Source: Prepared by the authors on the basis of data supplied by INE-DIRCE

Outsourcing and consultancy

Accenture, Capgemini, Deloitte, HP, Indra, Everis, PriceWaterhouseCoopers, Unisys

 

Engineering

AECOM, Ardanuy, Inclam, Intecsa-Inarsa, Prointec, Técnicas Reunidas

 

Telecommunications

Vodafone, BT, Orange, Telefónica

 

Software

Microsoft, Google, Oracle, Cisco, Indra

 

Data centres

Interxion, Colt, Global Switch

 

Real estate services

Regus, CBRE, JLL, Knight Frank, Blackstone, Cushman & Wakefield, Apollo, Lone Star Funds.

 

Excellence and services centres

Roche, Ernst & Young, General Electric, Accenture, Atos Origin

 

Legal services

Crowe Horwath, Dentons, Grant Thornton, KPMG, Osborne Clarke, Pérez-Llorca, Garrigues, Uría Menéndez

 

Construction and turnkey projects

Sacyr, OHL, Ferrovial, Acciona, ACS

 

Latin American HQs in Madrid

 

Highlights: Accenture innovation centre opened in 2018. Telefónica’s headquarters worldwide. Diverse organizations from British Telecom to Vistra have their Latin American HQs in Madrid. Large building companies headquartered here are responsible for some of the biggest projects in the world, such as the high speed train Medina-Mecca or the current Panama Canal expansion.

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