Madrid) experienced the highest growth of all the Spanish regions between 2004 to 2006. Its growth rate was higher than for the country as a whole by 1.4% during the period 2000–2006, and that of the Eurozone by 13%.
Madrid has become the 23rd richest city in the world and third richest in Europe in terms of absolute GDP; the economic output for the year 2005 was of $201.5 billion, behind the considerably larger cities of Paris ($460 billion) and London ($452 billion) and ahead ofMoscow and Barcelona. Additionally in terms of GDP per capita, Madrid, in specific the Madrid region is the richest in Spain and one of the richest in Europe. At 133.9% of the European average of 25,800€ (34,572€/$48,313) Madrid is ahead of all the other 8 Spanish regions above 100%. Similarly, Madrid is just 97.8% of New York's purchasing power.
Madrid is a world's financial leader, rising to the top five Centres of Commerce in Europe. Madrid continues its upward trajectory as a key European city, rising from its 2007 spot at number 16 to number 11 globally and from number 6 to the number 5 spot in Europe. Madrid's stable GDP, exchange rate and strong bond market, coupled with a high standard of living, place this city in the company of Europe's most prominent cities: London, Paris, Frankfurt and Amsterdam.
Madrid is one of the cities in the Iberian Peninsula that attracts most foreign investment and job seekers. The average salary in Madrid during 2007 was 2540€, clearly above the Spanish average of 2085€. In terms of net earnings, Madrid also places first in Spain; Madrid is 28th in the world, at 78.6%
