The study, presented by BBVA directors, highlights that the Madrid economy already closed 2025 with a 3.1% increase, three tenths above the national average. These projections indicate that by 2027, the region's GDP could be almost 20 points above pre-pandemic levels from 2019.
“"The Community of Madrid maintains high growth potential thanks to a diversified, service-based economy."
The report also anticipates a reduction in the unemployment rate to 7.1% and the creation of approximately 169,000 new jobs between 2025 and 2027. This labor dynamism is largely attributed to immigration, which has contributed to 70% of employment growth since 2022, and a regularization process that could benefit around 120,000 people in the region.
Despite a complex international context, marked by geopolitical conflicts and United States tariff policies, Madrid shows less exposure to the American economy. However, the study identifies risks such as oil price fluctuations, which could affect GDP growth and increase inflation.
Other factors that could limit growth include potential tourism saturation, structural problems in electricity grid access, and the persistent lack of affordable housing. Since 2021, household creation has significantly outpaced new housing construction, creating a notable market imbalance.
To consolidate “more competitive, balanced, and resilient” growth, the BBVA Research report emphasizes the need to improve housing access, boost investment (especially in energy), reduce labor market inefficiencies, and ensure the sustainability of public finances.
