Madrid continues to be a global leader in attracting business-related conventions and meetings. Here’s what the jury thinks World Travel Awards, the tourism industry awards that took place this weekend in Dubai. The Spanish capital has received this award for the fifth time in a row.

The city was chosen in advance. Abu Dhabi, Las Vegas, Paris, Seoul or Singapore and ten other cities, the Madrid City Council said in a statement. The global recognition comes after the capital was chosen in the same European destination category, the sixth time in a row it has won the award.

“This award confirms that the city of Madrid continues to be a leader in this tourism segment,” the council said. “The good image and reputation of the capital have developed in recent years thanks to the painstaking work carried out by the City Council on enhance the city’s image as a venue for congresses, fairs and meetingswith a strong commitment to public-private collaboration,” they add.

According to the Madrid City Council, in 2022.Between conventions, conventions and conferences, the city hosted 44,500 meetings., which is still behind the figure achieved in 2019 at 82%. All these events brought together more than two million participants in the capital.

According to data from Congress and Convention Association (ICCA)Spain was the country that hosted the largest number of international congresses, with a total of 528, second only to the United States, which hosted 690 congresses. Considering only congresses, Madrid ranks second in Spain with 128 congresses, compared to Barcelona’s 133.

Economic impact

However, this type of tourism is becoming increasingly important in the tourism sector of the capital. International business travelers’ stay in Madrid averaged 4.8 nights, and almost 85% of them stayed three or more nights. While the average stay for a national traveler is 2.2 nights. It has high economic effect, 1.715 million eurosaccording to the Madrid 2022 Meetings Tourism Measurement Report prepared by Braintrust.

Accommodation and expenses other than meetings, whether shopping, leisure, and/or dining out, were the items that accounted for the highest percentage of expenses, at 38% and 30%, respectively. Registrations in various sessions accounted for 18% of their allocated economic resources, while 4% was consumed by satellites.

It should also be noted that there is a significant amount of spending by professional visitors of international origin, who account for 29% of the total number of participants. Their average expenses were 1539 euros in 2022 compared to 753 for national tourists.

The city council sums up the “unrivaled specialist offer that the city offers”, which includes “special places, a thriving hotel complex or exceptional transport links, as well as a valuable historical heritage, exquisite gastronomy and an endless complementary cultural and entertainment program.” ; and the “high degree of professionalization of Madrid’s tourism sector, which guarantees the quality of services provided,” make “any professional meeting a complete success.”