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Papal visit boosts economic impact in Madrid to over 120 million euros

The Community of Madrid raises its initial forecast after a weekend of high hotel occupancy and full restaurants.

Generic image of a busy Madrid street during a major event.
IA

Generic image of a busy Madrid street during a major event.

The Community of Madrid estimates that the recent visit of the Pontiff will generate an economic impact exceeding 120 million euros, surpassing initial forecasts and revitalizing key sectors.

The Community of Madrid has significantly raised its forecast for the economic impact of the Pontiff's recent visit, now placing it above 120 million euros. This figure surpasses the initial estimate from the regional government, which was around 100 million, and reflects the positive reception and high activity recorded over the weekend.
The Minister of Economy, Finance, and Employment, Rocío Albert, highlighted that the Pope's arrival had a direct and notable effect on the region's tourism, hotel, and hospitality sectors. Over the weekend, hotel occupancy exceeded 85%, and Madrid's restaurants experienced exceptional demand. "Yesterday, hotel occupancy exceeded 85%, and all restaurants were fully booked for lunch," the minister stated.
Beyond the economic figures, Albert emphasized the positive image projected by the region, linked to joy, hospitality, and commitment. The minister stressed that the event showcased the cohesive and open character of Madrid's society, as well as its capacity to organize and host major events. "All of Madrid rallied" for the visit, she noted, considering it an honor that the capital was chosen for his apostolic journey to Spain.
The logistical and infrastructure deployment for the visit generated direct employment in sectors such as construction, horticulture, security, and tourism. The installation of stages, decorations, and technical services mobilized economic activity across various fields in the days leading up to and during the weekend.
International projection was another significant factor. The Royal House of Correos, the seat of the regional government, hosted the International Press Center, where over 2,500 correspondents from global media covered the event. "We must not forget that over 2,500 envoys from around the world have been based at the Royal House of Correos, projecting the image of Madrid. That is an impressive reference," the minister emphasized.
The regional government believes that the international coverage has reinforced Madrid's position as a host city for major events. The most crowded events, such as the vigil with young people at Plaza de Lima and the mass at Plaza de Cibeles, gathered over 1.2 million attendees, according to official data.

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