Madrid has been ranked 12th out of a list of 27 cities worldwide for global competitiveness, according to report by Deloitte and Madrid Global, higher than cities such as Sydney, Miami and Berlin.

Its main disadvantages were air quality, cost of living, population density, noise, productivity and inadequate higher education facilities. According to the report Madrid is not perceived as a global city and must primarily remove barriers for foreign professionals and improve its universities. Madrid was placed fifth in the European rankings.