The Madrid City Council has transferred that the economic impact that Pride has left in the city at 519.9 million euros, 14.2% more than in 2022, according to data from the Geoblink platform, based on statistical information on transactions registered by BBVA.
This figure also reflects an increase with respect to a standard period (immediately before and after Pride) of 39.6 million on the total value of production in the city, the Consistory has indicated in a statement.
According to an estimate by the organizers, this year a million and a half people have gathered around the central celebration of MADO, also coming from Europe, America and Asia.
This is reflected in the balance of spending recorded in the city as a whole and especially in the downtown area of the capital, which has experienced an impact of 177.8 million euros.
The areas that reflect a greater concentration of spending are, in this order, the southern area of the Golden Mile, in the Barrio de Salamanca, with 51 euros per person. It is followed by the northern area of the Golden Mile, with 39 euros per person, and the Gran Vía and Puerta del Sol area, with 27 euros per person. Chueca also stands out, with 21 euros per person.
Of all the categories studied, catering, fashion and food have been those that have contributed the greatest weight in total spending, both in the municipality of Madrid and in the downtown area during the last Pride.
Restoration is the most demanded category, accounting for up to 38.4% of the total estimated spending in the epicenter of the celebrations and 30% compared to the municipality as a whole. It is the only category, along with tourist accommodation, that experienced an increase in the average ticket with a card compared to the standard period in the city as a whole.
Following in weight of spending is the category of fashion, footwear and accessories, which registers 24% in the center of Madrid and 15.1 in the city. The food sector loses weight in the center (7.8% of spending) compared to the municipality, where it reaches 14.8% of total estimated spending.
Compared to the standard period, all categories have experienced increases in spending during MADO, with tourist accommodation, followed by fashion, registering the greatest upward variation in the municipality as a whole, an increase that is not reflected in the center and that it shows a negative growth in this area compared to the Pride of 2022.
During Pride, more than half of the weight of spending in the city (55.6%) has corresponded to the residents of the municipality. Visitors from outside the Community of Madrid contributed 18.5% of spending in the capital and foreigners 12.3%.
The latter spent more in the downtown area and their contribution to the weight of total spending in these neighborhoods rose to 24% while residents in the capital marked 44.6%.
The national dimension of MADO 2023 stands out. The group that has led a greater increase in spending compared to that carried out in a standard period, both in the central area of the capital and as a whole, has been that of national visitors, although in In relation to Madrid Pride 2022, a greater growth in spending on foreign tourists is observed than on locals.
With regard to national visitors from outside Madrid, the provinces that have contributed the highest volume of spending during the last MADO have been Barcelona, with 35 euros, followed by Las Palmas and Valencia.
Breaking down by foreign issuing markets, US tourists are the group with the highest volume of spending, representing almost 40% of the total registered in the downtown area and 29% in relation to the total expenditure of the municipality.
They are followed by those from Mexico, the United Kingdom and France. The highest average value corresponded to Chinese citizens, with €169.3 in the municipality as a whole, although it is the Americans who have shown a higher average consumption value in the downtown area of the capital.
