Santander: Ushering in a New Era of Banking and Innovation

As I pulled into Santander, the objections of my Asturian friends still echoed in my ears: “A weekend in Santander? What a waste of time!” I understood their bias — Gijón, Asturias’s largest city, tends to look down on its neighboring regional capital. Both coastal cities are similar in size and attract summer visitors, but where Gijón grew from industrial, working-class roots, Santander developed as a more privileged seaside resort shaped by royalty and wealth.

I have lived in Spain for years — in sunlit Valencia, historic Segovia and, most recently, Asturias — yet I had not previously explored Cantabria, the small region on Spain’s northern coast between Asturias and the Basque Country. Cantabria’s landscape is striking: lush valleys, steep mountains and a dramatic coastline. Still, about a third of its population lives in Santander, drawn by cultural institutions, sporting facilities, beaches and job opportunities.

Santander originated as a modest fishing town clustered around its namesake bay. The city’s fortunes turned in the early 20th century when King Alfonso XIII chose it as his summer residence. On the Peninsula Magdalena, facing the harbor, he built an ornate palace blending English and French architectural influences. Nobility followed, constructing chalets and mansions along the shore, and the town quickly became a fashionable summer retreat.

Walking down Calle de Reina Victoria, where many aristocratic homes still stand, it was easy to see how the influx of wealth transformed the city. Work shifted from fishing and port labor to services and leisure. Despite the cool waters of the Cantabrian Sea making swimming less inviting than on warmer coasts, Santander flourished as an upscale tourist destination. The monarchy has long since disappeared, but tourism remains a central pillar of the local economy — nearly 70 percent of jobs are in the service sector.

My stroll ended at the impeccably maintained Magdalena Palace and the surrounding gardens and beaches. For almost 20 summers, Alfonso and his court enjoyed this peaceful refuge until the monarchy ended in 1930. The palace soon found a new role as the seat of the International University of Menéndez Pelayo, a respected summer school that still attracts foreign students eager to study Spanish language and culture.

From the palace grounds I could see the port and watched a ferry arrive from Plymouth. Santander is one of only two Spanish ports with a direct maritime link to England and it also benefits from a well-connected international airport. Foreign influence helped modernize the city early on and even left a mark on local place names: during the conservative years of Franco’s regime, the provocative swimwear worn by foreign students at the university beach scandalized locals and the spot became known colloquially as Playa Bikinis.

Heading north from the Peninsula Magdalena, I reached El Sardinero and two of Santander’s most emblematic landmarks: the Hotel Real and the grand Gran Casino Sardinero, both built after Alfonso’s arrival. The palatial hotel crowns the hill with views over the city and bay, while the casino could easily feature in a classic film. Brushing off my friends’ snide remark that the city was “built for the amusement of the rich,” I stepped inside.

Forty minutes later and 100 euros lighter, I left the casino and turned to more affordable pleasures, like El Sardinero’s beaches — simply named First Beach and Second Beach. An elderly man sunning himself on a bench told me that the smaller First Beach was once reserved for nobles and wealthy merchants, though today anyone is welcome to enjoy either shore.

The theme of wealth shaping the city reappeared at my next stop. On the tree-lined Paseo de Pareda, near the port, stands the monumental headquarters of Banco Santander, Europe’s largest bank with tens of millions of customers worldwide. The bank is a major employer in the city and plays an active civic role, sponsoring festivals, sports clubs and cultural events.

Paseo de Pareda divides the maritime district from Santander’s historic center. The old town, which survived the Civil War, was devastated by a catastrophic fire in 1941 and rebuilt in a more modern style than many other Spanish historic centers. Still, there are notable relics: the cathedral’s 13th-century crypt survived the blaze and is well worth visiting. Nearby, Plaza Porticada, the city hall and the lively La Esperanza market add character, while museums such as the Museum of Fine Arts and the Maritime Museum of the Cantabrian Sea — which houses an impressive whale skeleton — provide plenty to explore.

All that sightseeing built an appetite, so I returned to the port and sat at a busy outdoor terrace to sample a local specialty: rabas, deep-fried squid. As my weekend in Santander drew to a close, I lingered over my meal and the final views of the bay, the lively beaches, peaceful promenades and elegant hillside mansions. Santander is a city still defined by its history of privilege and royal patronage — a legacy that, despite the mockery of friends from nearby Gijón, has left it with cultural richness, refined architecture and a thriving tourist economy.