Business Traveler, November 2017

November 2017 n 35 Visit businesstravelerusa com Cover Story n This has uncovered a huge amount of talent he adds We presumed this existed in Spain and Madrid but it was hidden because new startups couldnt find ways to fund themselves But it isnt only startups that have found fertile ground in Madrids tech sector Since launching in Spain in 2011 Amazon has opened new locations across the country each year and in 2016 unveiled a technology center in the capital At the launch Terry Hanold vice president of technology for Amazon EU said Over the past five years we have proven that Spain is an ideal place to innovate We have found professionals with incredible talent Andreu Castellano corporate communications manager at Amazon Spain says This year Amazon will create more than 600 new fixed jobs in Spain which means that in just one year its workforce will increase by more than 50 percent The groups Spanish headquarters plans to relocate to a larger 130000 square foot space in downtown Madrid with capacity for more than 1000 staff The new tech hub will also move here along with the first team outside of the US that develops software for Amazon Business the groups B2B marketplace A new Amazon logistics center is also due to open next year in Illescas Toledo 25 miles south of the capital and is expected to create more than 900 jobs in its first three years Tourism Trends Despite growing security concerns across the continent tourism here remains strong with just over nine million visitors in 2016 up almost 2 percent over the previous year Brands such as Hyatt W and Four Seasons are set to open hotels in the next two years while recent city center launches include properties from the likes of Only You Melia and NH Hotels Monica Torres is general manager of the 83 room NH Collection Palacio de Tepa which is housed in an 19th century palace that was once home to the last viceroy of Spain in Mexico The next few years are going to be quite challenging with the opening of Four Seasons and W nearby so this area is going to be a hot spot she says Meanwhile an ambitious regeneration project in northern Madrid is likely to up the ante for many businesses when it eventually sees the light of day Designed to rival financial hubs such as Londons Canary Wharf and La Défense in Paris the Madrid Nuevo Norte project plans to transform 662 acres of industrial wasteland into a business zone also including homes parks and a metro extension While this should be cause for excitement no one is holding their breath for a timely delivery the project was first announced in 1994 and has been held up by years of bureaucratic and political wrangling This summer a revised version of the project was finally approved and when work begins late next year it will be one of the largest urban regeneration projects in Europe with proposed funding in the region of 7 billion We have studied other projects in Europe to decide which features to replicate and errors to avoid says a project spokesperson Several studies indicate that there is a lack of high quality offices here We want big companies to choose Madrid as their headquarters All companies will be welcome Although in its early stages the project has allocated 368 of the 662 acres to commercial use and expects to build close to 11000 new homes Invest in Madrids Rocio Guemes says that the Madrid Nuevo Norte development will be one of the most advanced business zones in Europe We are perceiving interest in the project from foreign companies and once it is launched there will be excellent opportunities for investment she says Having weathered the storm its clear that Madrid is now open for business BT From top Nuevo Norte development NH Collection Palacio de Tepa Only You Atocha