Madrid is a major centre for international business and commerce. It is one of Europe’s largest financial centres and the largest in Spain. Madrid has become the 23rd richest city in the world and third richest in Europe in terms of absolute GDP; behind the considerably larger cities of Paris and London and ahead of Moscow and Barcelona. Additionally in terms of GDP per capita, the Madrid region is the richest in Spain and one of the richest in Europe. Madrid is a global financial leader, rising to the top five Centres of Commerce in Europe. Madrid continues its upward trajectory as a key European city, rising to number 11 globally and 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.