Written by Business confidence in Madrid’s digital transformation environment is high in relation to other cities, with an overall score of 7.08 out of 10. The city ranks 10 th out of 45 in a survey of executives. The city has good ICT infrastructure but faces a shortage of employees with relevant skills, according to survey respondents. Madrid outperforms its Spanish counterpart of Barcelona in terms of its digital transformation environment. Similar to Barcelona, Madrid has a strong financial environment but businesses still face challenges in funding digital transformation. Executives cite limited funding for investment as their greatest obstacle (23%) combined with cyber security concerns (23%). Unlike Barcelona, however, many executives (35%) find Madrid’s educational institutions to be generally effective in producing graduates with the right digital skills to meet their needs. Respondents are primarily seeking solutions and ideas from innovation labs and centres. Almost two in five (35%) executives cite them as the most helpful local resource. Another 35% say attending industry conferences is the primary source for information about digital transformation. Madrid is similar to Barcelona in that banks and financial institutions provide the greatest source of financing. Madrid Spain