A statue of a bull fighter outside Las Ventas bullring

Photo: © 2009 Jupiterimages Corporation

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Although Madrid is more considered a financial capital than a fashion city, there is excellent shopping to be found here, and visitors can find great deals during the sale season, known locally as rebajas. From January to February and again from July to August, almost all of Madrid's stores offer 30 to 50 percent discounts!

Getting around Madrid is easy enough on the Metro, but remember that Spain is a country of night owls and yet the train generally stops running at 1:30 a.m., at which point your other options are a bus or taxi. Translation? In the transportation area, it's questionable whether Madrid is able to handle Olympic-size crowds.

Busy days, busier nights—get Peter's tips to enjoy Madrid like a local.

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