Postcard from Madrid

Spanish structural shift

During our European tour, I had the chance to visit Madrid—and I can confidently say it's one of the greatest cities in the world right now. Long celebrated for its world-class museums, timeless architecture, and the serenity of Retiro Park, Madrid has in recent years added an electric new energy to the mix: an explosion of culinary creativity, a flourishing hotel scene, and a spirit of entrepreneurship that’s contagious. It's hard to think of another major European capital with this kind of momentum over the past decade. The economic story backs this up—Spain is leading southern Europe’s recovery with a structural shift toward high value-added services, demographic tailwinds, and surprisingly resilient growth.