This is the second time IIFA will be traveling to Europe following the ceremony in Amsterdam in 2005.
"We are extremely excited to announce that IIFA 2016 will travel to Europe again. We had been working on Madrid for many years and as 2016 marks the 60-year friendship between India and Spain, we feel this is the right time to showcase our culture and Bollywood there," Andre Timmins, Director, IIFA and Wizcraft, told PTI over phone from Madrid.
"We zeroed in on Madrid because we feel that the place is best for our industry. We also have been welcomed by the Mayor of Madrid, who is hosting us here. It's just the right time."
The new venue aims to reach out to the huge Latin Amrtican market for Indian films.
"Spanish is the largest speaking language in the world. So, it will be a springboard for Indian films there as it's less popular in Spain. But we aim that after our awards people will be much aware about Indian films," Andre said.
In the last 17 years, IIFA has travelled to four continents including Africa, Europe, Asia and North America.
This will be the 17th edition of the awards ceremony which will be held in IFEMA convention center and is coinciding with the pouplar Mulafest.
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