Madrid - connectedfuture.economist.comconnectedfuture.economist.com/.../2017/11/Madrid.pdf ·...
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Written by Business confidence in Madrid’s digital transformation environment is high in relation to other cities, with an overall score of 7.08 out of 10. The city ranks 10 th out of 45 in a survey of executives. The city has good ICT infrastructure but faces a shortage of employees with relevant skills, according to survey respondents. Madrid outperforms its Spanish counterpart of Barcelona in terms of its digital transformation environment. Similar to Barcelona, Madrid has a strong financial environment but businesses still face challenges in funding digital transformation. Executives cite limited funding for investment as their greatest obstacle (23%) combined with cyber security concerns (23%). Unlike Barcelona, however, many executives (35%) find Madrid’s educational institutions to be generally effective in producing graduates with the right digital skills to meet their needs. Respondents are primarily seeking solutions and ideas from innovation labs and centres. Almost two in five (35%) executives cite them as the most helpful local resource. Another 35% say attending industry conferences is the primary source for information about digital transformation. Madrid is similar to Barcelona in that banks and financial institutions provide the greatest source of financing. Madrid Spain
Transcript of Madrid - connectedfuture.economist.comconnectedfuture.economist.com/.../2017/11/Madrid.pdf ·...
Written by
Business confidence in Madrid’s digital transformation environment is high in relation to other cities, with an overall score of 7.08 out of 10. The city ranks 10th out of 45 in a survey of executives. The city has good ICT infrastructure but faces a shortage of employees with relevant skills, according to survey respondents. Madrid outperforms its Spanish counterpart of Barcelona in terms of its digital transformation environment.
Similar to Barcelona, Madrid has a strong financial environment but businesses still face challenges in funding digital transformation. Executives cite limited funding for investment as their greatest obstacle (23%) combined with cyber security concerns (23%). Unlike Barcelona, however, many executives (35%) find Madrid’s educational institutions to be generally effective in producing graduates with the right digital skills to meet their needs.
Respondents are primarily seeking solutions and ideas from innovation labs and centres. Almost two in five (35%) executives cite them as the most helpful local resource. Another 35% say attending industry conferences is the primary source for information about digital transformation. Madrid is similar to Barcelona in that banks and financial institutions provide the greatest source of financing.
MadridSpain
Most needed skills Main sources of financial assistance
Toughest challenge
Most helpful local resources
Equipping people with the right skills
Overall environment
out of 45 cities
out of 45 cities
out of 45 cities
out of 45 cities
Supply of people & skills
Development of new technologies
ICT infrastructure
Business confidence in the digital transformation environment
Innovation & entrepreneurship
Financial environment
out of 45 cities
out of 45 cities10th
22nd 16th 6th
15th 15th
23% 18% 35%
Very effective Industry conferencesCyber security concerns
Limited funding for investment
Digital security skills Banks or other financial institutions
Big data analytics skills Product service offering skills
Government programmes
38% 35%
25%23%
Madrid
