Credit Risk and Financial Stability

CEMFI, February 1, 2008



Madrid is open to the world, a modern, cosmopolitan capital city that offers an enormous range of economic and cultural activities.

Tourist options in Madrid:

What are the opening hours for shops and public entities?

The majority of shops are open from Monday to Friday from 9.30h to 13.30h or 14.00h, and again in the evening from 16.30h or 17.00h to 20.30h. Large chain stores or shopping malls open Monday to Friday from 9.30h or 10.00h until 21.00h or 22.00h. Some large stores and shopping malls also open on the first Sunday of each month. Some restaurants, supermarkets, bookstores etc. are open every day until 03.00h in the morning. NB: Many smaller shops close during the month of August. It is always best to phone first to make sure they are open. Public entities have a working timetable of Monday to Friday 09.00h to 14.00h. Bank Services: Branches are opened from Monday to Friday from 8-9 h. to 14-15 h. Many (but not all) banks also open on Saturdays from 8 to 14h. from October to March.

What about eating out?

Lunchtime in Spain is between 14.00h and 16.00, and dinner usually takes place between 21.00h and 23.00. It is a good idea to book a table before going to a restaurant. Service is often included in the prices (check the menu). It is however, customary to leave an additional tip of between 5 and 7% of the cost of the meal.

When should I give a tip?

In restaurants it is customary to leave between 5 and 7% of the cost of the meal. In hotels, it is typical to give the concierge 0,50 euros and a further 0,50 euros to the bellboy for each suitcase. Taxi drivers usually receive around 5%, but it must be pointed out that in Spain tips are by no means obligatory, they reflect that the client is happy with the service.

What language is spoken in Madrid?

The official language in Madrid is Spanish (Castilian). English and French are the more common second languages, particularly among young people. Most taxi drivers do not know English, but hotel and restaurant staffs usually have at least a basic knowledge.

How big is Madrid?

Madrid is the capital and financial centre of Spain. The head offices of practically all large Spanish companies are located here along with the main subsidiaries of large multinationals. Madrid has a population of approximately 5,022,000 people. The Regional Community of Madrid occupies some 8,027 km2, while the city has a surface area of 1,942km2.

What is the weather like in Madrid?

Madrid has a continental climate, with a dry atmosphere with temperatures that range from between 10oC and 21oC in May.

What are the emergency telephone numbers?

- European Community Emergency Services 112
- Madrid Information Services 010
- Civil Protection 91-537 31 00
- National Police Force 091
- Municipal Police Force 092
- Guardia Civil (Civil Guard) 062
- Fire-fighters 080
- Social Security 061
- Toxicological Department (in case of poisoning) 91-562 04 20

How do I call Madrid?

The code for Spain is 34, and Madrid is 91. For example, to call the IE central exchange you must dial 0034-91-568 96 00.

Where is my country´s embassy located in Madrid?

To find out where your embassy and consulate are, please click here

What currency is used in Spain?

As from January 2002, the Euro is the official currency of the European Union and is therefore the currency used in Spain. There are notes of 5, 10, 20, 50, 100, 200 and 500 Euros, coins worth 1, 2, 5, 10, 20 and 50 centimes, and coins of 1 and 2 Euros. To find out exchange rates, please click here.