Madrid and Paris tied for second place in the 2015 European Cities Ranking published by Madrid City Council, which assessed the 25 European cities considered to be large metropolises.
The ranking takes into account various indicators, including Economy and Employment Market, Knowledge Society and Quality of Life. Madrid is ranked second for Economy and Employment Market and seventh for Quality of Life, thanks to its high scores in the areas of culture, climate conditions, social health and healthcare system.
In addition, the European Cities Hotel Forecast published by PwC ranks Madrid and Barcelona among the ten European cities that will show the highest hotel sector profitability growth in 2016 and 2017.
This year Madrid will experience the fourth-highest growth in Europe. Revenue per available room in its hotels is expected to rise by 5.5%. Last year the capital experienced a remarkable 17.6% increase in RevPAR.
This trend is expected to continue this year and the next, helped along by the economic recovery and leading events like the LGBT Pride Festival and luxury tourism projects, including the opening of several hotels such as Hotel Gran Meliá Palacio de los Duques and DoubleTree by Hilton.