[2] The celebration usually begins Wednesday afternoon with the popular announcement at Chueca Square, carried out by notorious public figures, and ends on Sunday, after the parade of claiming floats that takes place on Saturday.
Madrid Pride has gone from being a small concentration of people in the late 1970s and early 1980s to being considered the biggest LGBT party in Europe and one of the most important in the world, only surpassed by the city of San Francisco (California), attracting more than a million and a half people each year (300,000 of them foreign tourists) and with an estimated contribution to the economy of the city over €150 million in 2015, consecrating itself as one of the most important and multitudinous festivals in all of Spain.
In 2005, with the approval of equal marriage in Spain, there was an explosion of assistance to Madrid Pride, which for the first time reached up to two million people.
This made Madrid to be chosen as the European capital of Pride, celebrating Europride 2007, which was attended by more than 2.5 million people from around the world.
In October 2012, InterPride members voted in favor of holding the 5th WorldPride 2017 Edition to the city of Madrid, surpassing Berlin and Sydney.
In October 2012, InterPride's membership voted at its annual conference in Boston, Massachusetts, United States, to award WorldPride 2017[18] to the city of Madrid, Spain.