Standard of living Economy of Madrid

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1 standard of living

1.1 income , expenditure
1.2 income distribution
1.3 impact of recession





standard of living
income , expenditure

the mean income per unit of consumption (a weighted count of persons) in 2010 €17,800, 12% above figure spain. similarly, mean annual spending per household in same year €35,683, again 12% above spanish average.


one downside of madrid s rapid economic development since 1992 has been rising cost of living. although residential property prices have fallen 39% since 2007, average price of dwelling space €2,375.6 per sq. m. in 2014, , second london in list of 22 european cities.


income distribution

the proportion classified @ risk of poverty in 2010 15.6%, 13.0% in 2006 less average spain of 21.8%. proportion classified affluent 43.3%, 38.2% in 2006 , higher spain overall (28.6%). gini coefficient, measure of income inequality, less in madrid region (32.3) rest of spain (34.0).


impact of recession

consumption madrid residents has been affected job losses , austerity measures, including rise in sales tax 8% 21% in 2012. impact of economic recession on spending patterns of madrid households seen in household survey in 2009: 74% said building savings, 54% taking more advantage of sales, 47% spending less on clothes, 44% on eating out , 42% on going shows.








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