Madrid, January 31st 2005  
Alberto Ruiz-Gallardon, Mayor of Madrid, has stated this morning that the Olympic Games would leave 6,050 million euros profits for Madrid until the year 2016. 174,000 new jobs would be created and there would be an increase of 1.5 million tourists visiting Madrid from 2011 to 2016.

This has been announced by the Mayor during the presentation of the “Urban Economy Barometer. Special Report Madrid 2012” and “Olympic Games’ Economic Impact” reports, which have been developed by the Tomillo Centre of Economic Studies. Ruiz-Gallardon has also announced that the three administrations (Spanish, Regional and Municipal Government) will invest 6,407 million euros for the organization of the 2012 Olympic Games, which “must be considered an investment for the future” because of the “unbeatable” economic balance that the Olympic Games will involve for Madrid and the rest of Spain.

The Olympic Games would also have important social repercussions. It is estimated that 174,000 new jobs would be created in Madrid, other 43,000 in the region and 80,000 more in the rest of Spain, especially in the construction and services sectors.

Finally, the Mayor has said that this important project will contribute to “assure the mobility in the city, to improve the environmental consciousness and to leave us a better city. This is a historical opportunity for Madrid”.  
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