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Milan and Lombardy had a GDP of €400 billion ($493 billion) and €650 billion ($801 billion) respectively in 2017. [2] [failed verification] Milan surpassed Berlin in the size of its economy in 2014, and has since been the richest city among the Four Motors for Europe. It is a member of the Blue Banana corridor among Europe's economic leaders.
As these developments steadily converted Spain's economic structure into one more closely resembling a free-market economy. The success of the stabilization program was attributable to a combination of good luck and good management and the impressive development during this period was referred to as the " Spanish miracle ". [ 13 ]
[11] [12] Milan is the economic capital of Italy, one of the economic capitals of Europe and a global financial centre. [13] [14] Milan is a leading alpha global city, with strengths in the fields of art, chemicals, commerce, design, education, entertainment, fashion, finance, healthcare, media (communication), services, research, and tourism.
The economy of Spain is a highly developed social market economy. [30] It is the world's 15th largest by nominal GDP and the sixth-largest in Europe . Spain is a member of the European Union and the eurozone , as well as the Organization for Economic Co-operation and Development and the World Trade Organization .
The 2022 Startup Law has provided a more favorable legal and financial framework for creating and scaling emerging companies in Spain.
Under the Spanish viceroys from 1535, Milan became one of the contributors to the Spanish king's army. At the time Lombardy had the most developed manufacturing and commercial economy anywhere in the world, making it a valuable tool for the Spanish military: an armory of paramount strategic importance. [40]
The region can be broadly divided into three economic areas: Milan, where the services sector comprises 65.3% of employment; the provinces of Varese, Como, Lecco, Monza and Brianza, Bergamo and Brescia, the latter having the highest value added in industry in Europe, [117] where there is a highly industrialised economy and a rich agricultural ...
The 142 m Torre de Madrid, built in 1957, heralded the "Spanish Miracle".. The Spanish miracle (Spanish: el milagro español) refers to a period of exceptionally rapid development and growth across all major areas of economic activity in Spain during the latter part of the Francoist regime, 1959 to 1974, [1] in which GDP averaged a 6.5 percent growth rate per year, [2] and was itself part of a ...