Madrid, December 22 – The Interprofessional Union of the Community of Madrid (UICM) today unveiled a comprehensive study titled “Economic Impact of Professional Activity in the Community of Madrid.” The report, prepared by the Madrid College of Economists for UICM, reveals that the region’s professionals significantly bolster the local economy, contributing over 24% to the regional Gross Domestic Product (GDP).
Key Economic Contributions Unveiled
The study, presented at the ICAM Library Patio, highlights the substantial influence of Madrid’s professional sector, which now encompasses 1.27 million individuals. University-educated professionals constitute 37.1% of the total employment in the Community of Madrid, a figure that far surpasses the national average and reflects Madrid’s role as a hub for high-value-added sectors.
Among the most significant economic findings are:
- Wealth Generation: The direct activity of these professionals generates more than 76 billion euros in income, equating to 24.4% of the regional GDP.
- Employment Impact: Considering direct, indirect, and induced effects, the collective supports approximately 1.4 million jobs, representing 4 out of every 10 jobs in Madrid.
- Fiscal Contribution: Professional activities generate a total of 40.598 billion euros in tax revenue for public administrations, primarily through personal income tax (IRPF), VAT, and corporate taxes.
- Talent Leadership: Madrid concentrates over 30% of Spain’s professional talent in strategic fields such as engineering, economics, law, health, and ICT.
The presentation was attended by numerous authorities and institutional representatives, including the Deputy Minister of Economy and Employment of the Community of Madrid, Mª del Carmen Tejera; the President of the General Council of Economists, Miguel Ángel Vázquez Taín; and deans, presidents, and board members of various professional associations in the Community.
Professionalism as a Pillar of the Rule of Law
Eugenio Ribón, President of UICM and Dean of the Illustrious College of Lawyers of Madrid, emphasized the broader significance of these findings. “These figures do not just describe an economic phenomenon; they represent a structural pillar of our Rule of Law,” Ribón stated. He further noted that collegiate professions, adhering to high ethical and deontological standards, “guarantee legal certainty, preserve essential rights, and act as a motor for prosperity and stability in the face of challenges like digitalization and artificial intelligence.”
Amelia Pérez Zabaleta, Dean-President of the Madrid College of Economists and Treasurer of UICM, remarked, “The Community of Madrid is consolidating its position as a crucial talent hub, where professional presence drives innovation and quality in key sectors such as healthcare, education, and scientific and technical activities.”
Detailed Economic Analysis and Future Outlook
Pascual Fernández, an economist and co-author of the study, delved into the collective’s structure, revealing that 87% of professionals are salaried employees, while the remainder are self-employed. The self-employed segment, he noted, generates a significant multiplier effect through the acquisition of goods and services, benefiting the national productive fabric as a whole. The study indicates that, across Spain, the number of university-educated professionals reached nearly 5.9 million in 2024, with approximately 1.3 million (21.7%) residing in the Community of Madrid.
Fernández highlighted that the study, utilizing a rigorous input-output methodology, estimates the total economic impact, including indirect effects, to be close to 100 billion euros. The contribution to national economic growth, in terms of Value Added or GDP contribution, amounts to 78.4 billion euros, nearly 5% of national GDP. Of this, 76.1 billion euros are generated in the Community of Madrid, representing 24.4% of its GDP in 2024. The direct contribution of university-educated professionals in Madrid is estimated at 67.7 billion euros (21.7% of Madrid’s GDP), with the remaining 2.7% generated indirectly and induced across the regional economy. This contribution to Madrid’s GDP has increased by 1.4% since 2018, when it stood at 23%.
The report also underscores that direct contributions are concentrated in knowledge-intensive and high-value-added sectors, particularly professional, scientific, and technical activities, information and communications, finance, and insurance, alongside essential pillars of well-being such as education, healthcare, and public administrations. This economic snapshot confirms qualified talent as a decisive factor for regional productivity and quality of life.
Juan Revuelta, Deputy Minister of Finance and Public Function, also spoke at the event, stating, “Madrid cannot be understood without its professionals who generate wealth and progress in all sectors of the economy. This is not a static picture; it is increasing and growing.” Revuelta emphasized that Madrid has become the primary economic actor at the national level, with 1 in 4 new companies in Spain being created in the Community of Madrid, which also attracts significant foreign investment. “Investors value the lack of uncertainty most, and we foster an incentivizing fiscal policy,” he added. Madrid aims to attract talent, ranking first nationally and second in Europe for ICT talent, and adapting 70% of foreign investment in Spain. “We have a model of growth and development based on human capital.”
Concluding the event, Mª del Carmen Martín, Deputy Minister of Justice and Victims of the Community of Madrid, reinforced the institutional collaboration between the regional administration and professional associations to continue promoting a growth model based on knowledge and social responsibility. She stressed that “Madrid is a leader and economic engine of Spain.” Martín acknowledged UICM as a reference institution that has given a voice to Madrid’s civil society, projecting and working for the common interest across all professions. “Professionals do not act in isolation; they work for the general interest. We need responsible professionals committed to public service.” She highlighted the creation of a new Autonomous Law for Professional Associations, which will update the current one to continue giving a voice to all professional associations and account for digitalization, which is both present and future. “Thank you on behalf of the entire government of the Community of Madrid for your vocation of service to society.”
Key Data:
- 1,275,154 university-educated professionals in 2024.
- 76,056 million euros in annual added value: 24.4% of regional GDP.
- 1,370,936 associated jobs in Madrid: 39.9% of regional employment.
- Total estimated impact: 100,042 million euros in production, 78,399 million euros in added value, and 1,405,060 jobs.
- 40,598 million euros in total revenue linked to this activity (mainly social security contributions, IRPF, and VAT).
- 53.7% women within the professional collective.
About UICM:
The Interprofessional Union of the Community of Madrid (UICM) is a non-profit association that brings together 47 regional, supra-regional, and national professional associations with headquarters in Madrid. It represents approximately 400,000 collegiate professionals from the fields of Science, Economics, Law, Health, Social, Architecture, and Engineering. UICM was conceived to address the common interests of these professions.
Over its more than 25 years of existence, the Interprofessional Union has become a meeting forum for cooperation and reflection among Madrid’s professionals, working on matters of common interest for professional associations and acting as an interlocutor and collaborator with local and autonomous administrations in actions and services that can benefit the common good of Madrid’s citizens.
Source: https://www.coam.org/actualidad-noticias-los-profesionales-de-la-comunidad-de-madrid-aportan-con-su-actividad-economica-mas-del-24-del-pib-regional/
