Madrid is the capital and largest city of Spain. The population of the city is roughly 3.2 million (December 2005), while the estimated urban area population is 5.1 million. The entire population of the Madrid metropolitan area (urban area and suburbs) is calculated to be 5.84 million. The city spans a total of 607 km² (234  sq mi).

The city is located on the river Manzanares in the center of the country, between Castile and León and Castile-La Mancha. Due to its economic output, standard of living, and market size, Madrid is considered the major financial center of the Iberian Peninsula; it hosts the head offices of the vast majority of the major Spanish companies, as well as the headquarters of three of the world's 100 largest companies (Telefónica, Repsol-YPF, Endesa). As the capital city of Spain, seat of government, and residence of the Spanish monarch, Madrid is also the political center of Spain.

Madrid is a city of great cultural and political importance. While Madrid possesses a modern infrastructure, it has preserved the look and feel of many of its historic neighborhoods and streets.

Following the restoration of democracy in 1975 and Spain's integration into the European Union , Madrid has played an increasing role in European finances, marking the city as one of the most important European metropolises.

The financial district is in downtown Madrid between the streets Raimundo Fernández Villaverde, Orense, General Perón and Paseo de la Castellana. Its original conception was approved in 1946. The purpose of this plan was to create a huge block of modern office buildings with metro and railway connections in the expansion area of northern Madrid, just in front of Real Madrid stadium (currently named the Santiago Bernabéu Stadium) and beside the brand new government complex of Nuevos Ministerios . A botanical garden, a library and an opera house were also included in the plans, but these were never built. Cuatro Torres Business Area is a business park currently under construction. The area will contain the tallest skyscrapers in Madrid and Spain (Torre Espacio, Torre de Cristal, Torre Sacyr Vallehermoso and Torre CajaMadrid). The buildings are expected to be finished by 2007/2008.

Madrid remains the second most important industrial center in the country, only exceeded by Barcelona.

Serving the city's population of some six million, the Madrid Metro is one of the most extensive and fastest-growing metro networks in the world. With the addition of a loop serving suburbs to Madrid's south-west "Metrosur", it is now the second largest metro system in Western Europe, second only to London's Underground. In 2007 Madrid's metro system was expanded and it currently runs over 322 kilometers (200 miles) of line. The province of Madrid is also served by an extensive commuter rail network called Cercanías.

Currently, an ambitious plan includes the construction of a 7,000 kilometre (4,350  mi) network, centered on Madrid. The overall goal is to have all important provincial cities be no more than 4 hours away from Madrid, and no more than 6 hours away from Barcelona. As of 2008, AVE high-speed trains link Atocha station to Seville, Málaga and Toledo in the south and to Zaragoza, Tarragona and Barcelona in the east. AVE trains also arrive to Valladolid.

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