Madrid is a changed city. The recent metamorphosis has been fuelled by the economic crisis and led by a new generation of determined Madrileños who have transformed the Spanish capital for the better. Tradition and modernity thrive side by side: marvel at the centuries-old masterpieces inside the Prado one moment and enjoy sumptuous morsels cooked up by a new wave of intrepid chefs the next.

After sating your appetite, be sure to save enough energy for nocturnal frolics in the endless mix of bars, theatres, and clubs. In fact, the native penchant for a good time is such an irrefutable character trait that Monocle challenges you not to be affected by the contagiously cheerful spirit you’ll encounter. The city has thrown off the shackles of immovable tradition; what was once a buttoned-down bastion of conservatism has become Spain’s unabashed center of the avant-garde. Enjoy a melting pot of talent, taste, and tenacity—all courtesy of fun-loving and welcoming residents.