A strategic trip to attract investments
The president of the Community of Madrid, Isabel Díaz Ayuso, has been at the centre of controversy following her recent visit to Mexico. However, the spokesperson for the regional Government, Miguel Ángel García, has come to the defence of this institutional mission, arguing that it is essential for boosting foreign investment in the region. Since Ayuso took office in 2019, Madrid has seen a notable increase in foreign investment, reaching 10.7 billion euros, which represents a growth of 68%.
García also addressed the criticisms regarding the costs associated with the trip. Compared to other administrations that have participated in similar international fairs, Madrid's expenditure appears modest. For example, the central Government invested 1.8 million euros in the International Book Fair (FIL) in Mexico City, and former mayor Manuela Carmena spent around 1 million euros at the Guadalajara Book Fair. In contrast, Madrid has budgeted only 300,000 euros, a figure that includes not only the stand but also maintenance and participating artists.
Unlike other autonomous communities that have multiple offices abroad, such as Catalonia with its 40 offices or the Basque Country with 22, Madrid operates without these costly structures. According to García, this has not prevented the community from attracting approximately 70% of all foreign investment coming to Spain since 2019. This direct and efficient approach is part of the argument presented by Ayuso to justify her presence at international events.
As 2024 approaches, the data is promising: an impressive 67% of all foreign investment is estimated to have gone to Madrid this year, and this figure is expected to reach 50% in 2025. These statistics underscore how the initiatives taken by Ayuso are yielding significant results.
Despite government support for such institutional trips, criticism continues from opposition sectors who question both the expenses and the real effectiveness behind these actions. However, García describes these criticisms as a “black and white” view, suggesting that there is a lack of understanding of how global and local economic dynamics actually work.
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