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The Madrid Case OECD Territorial Review. Bonifacio Vega Director General of International Strategy Madrid City Council. Madrid in 2007. Madrid is a Metro-Region of 6 million The 3rd largest metropolitan area in Europe In the period 1995 – 2005 the average annual growth had been 3,7%
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The Madrid CaseOECD Territorial Review Bonifacio Vega Director General of International Strategy Madrid City Council
Madrid in 2007 • Madrid is a Metro-Region of 6 million • The 3rd largest metropolitan area in Europe • In the period 1995 – 2005 the average annual growth had been 3,7% • Population growth of 16% in 5 years • 760.000 new jobs • 17% of Spain’s GDP • Titanic improvement of public transport systems
Madrid in 2007 ADMINISTRATION MADRIDURBAN INTELLIGENCECLUSTER ACADEMIA BUSINESS
Madrid in 2007 Reality Closing the gap Perception
OECD Diagnosis in 2007 • Madrid has captured the advantages of globalization • It has become a world class business hub • Madrid’s success has been sustained by a set of ambitious policy measures • Madrid has exceptional human, social, infrastructure and institutional resources
OECD Diagnosis in 2007 Challenges • Low economic productivity • Inmature R&D system • Inadequate spatial development Madrid’s overall economic system has structural deficiencies that contribute to low labour productivity and innovation capacity
OECD Diagnosis in 2007 Low economic productivity • 18% less productivity than the average 78 OECD metropolitan regions • Between 2000-2005 high technology manufacturing fell 13% • Fast economic growth based on lower valued activities
OECD Diagnosis in 2007 Inmature R&D system • Overall R&D expenditure is less than 2% of the regional GDP • Percentage of private investment in R&D is below OECD average • Limited scientist mobility generating an endogamic structure
OECD Diagnosis in 2007 Inadequate spatial development • Madrid metro-region has a mononuclear and radial shape • Escalation in housing prices attracts investors but keeps out large parts of the population, especially the younger (40% of annual household income) • Madrid has the highest rate of vacant dwellings: 24%
OEDC Recomendations Long term shifts in: • Economic structure • Labour market • Spatial development Madrid Madrid’s situation does not require another institutional reform but the upkeep of the existing governance mechanism along with some innovative solutions
Facing the Challenges Low economic productivity • Development of a network of 7 new urban business incubators • Creation of Madrid-Global and design of a New Internationalisation Strategy • Regional Innovation Plan – Public support is shifted towards high end sectors
La Casa de Bambú • Creación del prestigioso estudio de arquitectura FOA, Foreign Office Architects,(Alejandro Zaera y Farshid Moussavi) • RIBA European Award 2008
Facing the Challenges Inmature R&D system • Creation of the Madrid Institutes of Advances Studies (IMDEA) • Madrid Science Park • New Financial System for Universities • Cross institutional R&D consortiums
Facing the Challenges Inadequate spatial development • Comprehensive Urban Renovation Programme • Calle 30 and Madrid Rio Projects • Housing stock renovation and retrofitting programmes • Innovation in Public Housing EMVS
Madrid today • Skilled workforce • Graduates and post-graduates levels: • 7th in the European Ranking • 1st in the Spanish Ranking • Innovation • R & D investment: 2,4% • 7 public and 8 private universities • 8 institutes advanced studies • 3 science parks • 7 business incubators
Madrid today • Public Transportation & Connectivity • Barajas Airport: 70 millions passengers/year • High Speed Train Network • Radial Road Network • Metro of Madrid • Improvement of infrastructures (M-30) • Economic structure diversity • Specialized services center • Financial and advanced business services • Urban Utilities and Infrastructure Cluster • HQ of top Renewable Energies Corp.
Madrid today • International Financial crisis • The banking system is resisting well (so far) • Drop in Direct Foreign Investment • Spain’s Economic Model Crunch • Increased public deficit • Skyrocket unemployment (near 18%) • Destruction of industrial fabric • Internal demand is at its lowest • City Finances • Dramatic decrease in revenues • Increased debt
Global Power City Index The Mori Memorial Foundation Tokio, Japan
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