Economy of Barcelona

Madrid might be the political and financial capital of Spain, but Barcelona holds sway as its most culturally and industrially vibrant city.

Barcelona has served as a crossroads of manufacturing since before Christopher Columbus set sail for the Americas. Its strategic location, on the Mediterranean Sea and near the border with France, has made its emergence as the principal industrial and commercial centre of Spain for sure.

Barcelona has a longstanding mercantile tradition. Less well known is that it was one of the earliest regions in continental Europe to begin industrialization, beginning with textile related works at the end of the XVIII century but really gathering momentum in the mid XIX century, when it became a major center for the production of textiles and machinery. Since then, manufacturing has played a large role in its history. The traditional importance in textiles is still reflected in Barcelona's importance as a major fashion center.

Barcelona has many features typical of the north-west European city. It has a large tertiary sector, its traditional manufacturing industries have been declining, and transnational investment has become increasingly important. The rapid growth of 'Technical' parks for high-tech industry is a modern feature associated with the growth of what has become known as the European 'Riviera' belt, stretching along the Mediterranean coast between Valencia and northern Italy.