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Madrid, better than Milan and Turin in last decade

Surely many of those who read me remember Adriano Celentano and his famous song more than Who doesn’t work, doesn’t…

By admin , in news , at May 7, 2022



Surely many of those who read me remember Adriano Celentano and his famous song more than Who doesn’t work, doesn’t love, While working and analyzing the Eurostat database, I have found information that I did not think I had. The advertisements already say this and Picasso said: Let the muscles catch you working.

PPS, Standard Purchasing Capacity, power purchase standard for its acronym in English, it is an analysis that performs Eurostat to be able to compare harmoniously GDP per capita from each region. Based on these data, I will make separate comparisons between European regions.

The only weakness of these figures is that they have only been available since 2009. So, we don’t have the full range so far in this century. Today in this article we are going to analyze from 2009 to 2019. Although we have 2020, and the pandemic is for everyone, we are going to see behavior change in this decade.

Comparative analysis is being done between madridThe region of Lombardy, whose capital is Milanand the Piedmont region, whose capital is Turin,

Lombardy is one of the 20 regions that make up the Republic of Italy. It consists of 12 provinces and 1,546 municipalities. Its capital is Milan. Its area is 23,861 km, which is almost 3 times that of the Madrid community. It has 10.1 million inhabitants in 2019 and is the region with the highest GDP in Italy.

Piedmont is Italy’s second largest region, after Sicily, with 25,402 km and 4.4 million inhabitants in 2019.

Let us analyze its GDP growth between 2009 and 2019:

Lombardy is the region with the highest GDP in 2009, 68% more than Madrid and 2.8 times more than Piedmont.

The first five years completely suppressed Madrid. It decreased by 1.7% over the period, while it increased by 6.4% in Lombardy and 3.7% in Turin’s Piedmont. It is clear that the Italian regions faced the financial crisis better than Madrid, which began in Spain in 2008, escalated. zapatero The legacy that Rajoy collected at the end of 2011 was so unfortunate that it didn’t get our heads out of the water until 2014.

The second five-year period has nothing to do with Madrid. Our region grew 23.6%, more than double that of Lombardy, which grew 11.9%, and Piedmont, which grew 10.8%.

If we analyze the decade, Madrid is ahead of the other two regions despite the delay of a full five-year period. This increased by 21.5%, while Milan as the capital of Lombardy has a much wider stretch than Turin, growing 19.4% compared to 14.9% for Piedmontese.

Let’s see below whether the per capita analysis follows similar guidelines.

at the level of per capita income adjusted by The European UnionBased on a comparison of the prices of the two countries, we find that, in 2009, Lombards have an income of 1,100 euros more than the Madrilaneians and 7,200 euros more than the Piedmontese, while the Madrelenians are higher than the Piedmontese residents. in 6,100 euros of annual income.

Five years later, the income of the people of Madrid, despite the decline in GDP, has grown by 0.9%, compared to 2.1% of Lombards and 2.2% of Piedmontese.

In 2019, adjusted earnings for Madrid are 38,700 euros and have increased by 18%. There is still a gap of 1,100 euros between the Milanese and the Madrilaneians, while Madrid has lost a bit of ground with the residents of Piedmont.

In these 10 years the population of Madrid grows from 314,000 inhabitants, while Piedmont does not grow and Lombardy grows by 510,000 inhabitants.

From these data we can conclude that madridIf he is able to keep up the pace from 2014 to 2019, then there is a huge opportunity ahead of him and he can become authentic europe engine, To do this you have to prepare yourself to deal with crises.

We know that crises strangle us and we have seen that both GDP and per capita income have been slightly favorable for Madrid over the decade, with crises in between.

For this reason, we can almost guarantee that thanks to population growth, the community of Madrid and the region of Lombardy are very well prepared to remain the driving force of the two Mediterranean countries.