It all depends on what time in history you might be inquiring about.
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The population of the Iberian Peninsula is around 56 million people. The Peninsula covers a total area of 224,507 square miles.
Iberia or Iberian Peninsula is Europe's third biggest peninsula after Scandinavia and Balkans. It is made up of areas from three countries, Spain, Portugal, Andorra.
Madrid capital of Spain Lisbon capital of Portugal
Europe has many boundaries and borders, but Europe as a land mass stretches from the Hebrides and Iberian peninsula in the west all the way to the Polish - Ukrainian border in the north east and the Romanian - Turkish border in the south east.
In the Ages of Exploration, other European countries envied Spain because Spain had an advantage of exploring Africa (had lots of resources) because it was so close to it (Iberian Peninsula) Also Spain was one of the firsts to explore (Portugal was the first)