10 years in the heart of Madrid: Primark releases new impact report to mark anniversary of Gran Vía flagship store

• In 2024 alone, the store delivered a record economic impact, contributing €83 million to Spain’s national GDP and generating €42 million in taxes and social security contributions last year.

• For every €1 of value Primark generates through its operations, other businesses and sectors generate an additional €0.50 in the Madrid economy.

• The store is also a major driver of local employment, employing over 1,000 people directly, and creating an additional 0.4 jobs in the Madrid labour market for every direct job at the store.

To mark 10 years of bringing affordable fashion to the heart of Madrid’s retail district, Primark has commissioned an independent report examining the impact of its Gran Vía flagship store to the community over the past decade. The report, which was drafted by economic consultants Afi, analyses Primark’s economic, social and urban contribution to Gran Vía and the wider city of Madrid over the last 10 years, looking at economic indicators like GDP, tax contributions, employment creation, as well as the evolution of Gran Vía over the decade.

Primark first entered the Spanish market nearly 20 years ago, opening its Gran Vía flagship a decade later in the heart of the city in an iconic building steeped in retail history. The opening of the Gran Vía store marked a major milestone demonstrating the brand’s ambition in Spain and setting a new standard for retail in the capital. In October 2015, the store opened to crowds of customers excited to shop the retailer’s much-loved value offering, with queues continuing every day for three months. Ten years on, it’s still the jewel in the crown of Primark Spain and today’s report shows it has contributed significantly to Madrid, bringing value to the local economy as well as to its customers.

Report highlights include:

• GDP Contributions: In 2024, the Primark Gran Vía store had its highest total economic impact to date, contributing €83 million to the Spanish economy. This includes the store’s direct operations, its supply chain activity, and the wider economic effect of employee spending.

• Tax Contributions: Afi further estimate the store’s overall activity generated €42 million in public revenue through taxes and social security contributions in 2024.

• Wider Economic Value: For every €1 of value Primark generates through its operations, other businesses and sectors on Gran Vía generate an additional €0.50. This is thanks to both its suppliers (indirect impact) and the spending power of its employees (induced impact) highlighting how a major retailer can boost local economies beyond its direct operations.

• Primark Gran Vía handles over 5 million transactions every year.

• Job Creation: In 2024, Primark Gran Vía employed 1,060 people, the highest number of jobs created in the store to date. This figure represents 0.7% of all workers in Madrid’s Centro district. When including the indirect and knock-on jobs supported by the store, the total rises to 1,460 jobs. That means for every job at Primark Gran Vía, another 0.4 jobs are supported elsewhere in the economy.

• Diverse Workforce: The stores workforce is made up of employees from 28 nationalities. The report also highlights that three out of four employees are female, – figures which are higher than both the retail sector average (60%) and the national workforce average (under 50%). Moreover, over 63% of the management team is female.

• Halo effect on Gran Vía: The study also explores the growth of Gran Vía since Primark’s opening 10 years ago. Between 2015 and 2025, the number of active stores on this street increased by 94%. Restaurants nearly doubled, growing from 46 to 90, while retail stores reached 186, up from 101 in 2015. Public transport data also shows a rise in footfall since the store’s opening, with the Gran Vía metro station passenger numbers up 57%.

Cárlos Inácio, Primark Iberia Director General, highlighted during the presentation of the report: “Celebrating ten years of Primark Gran Vía is a special moment for us. Since opening, we’ve seen remarkable growth in the value of our activity and the overall impact of the store. This success reflects the store’s continued strength over the past decade and its contribution to the vitality of Madrid’s Gran Vía, as well as the trust our customers place in us every day.”

Diego Vizcaíno, Afi Partner Director said: “Over the past decade, Primark Gran Vía has played a leading role in the commercial revitalization of Madrid. With over five million annual transactions, the store has demonstrated its strategic value by consistently attracting investment and consumer demand, resulting in a total economic contribution of more than €83 million to Madrid’s GDP in 2024. Its presence has boosted public revenue and inspired other brands to expand along Gran Vía, establishing the avenue as a benchmark for urban and commercial transformation”.

The report ’10 years in the heart of Madrid’ was commissioned by Primark and independently drafted by economic consultants Afi. The report was presented at a launch event in the Primark Gran Vía office by Carlos Inácio, Primark Iberia Director General; Juana Rodero, Primark Iberia People & Culture Executive; Diego Vizcaíno, Managing Partner of AFI’s Applied Economics Area; and Laureano Turienzo, President of the Spanish Retail Association.

In 2026 Primark will celebrate its 20th anniversary in Spain, another milestone that reflects the company’s commitment to Spain.