Plaza de España is indeed a significant landmark in Madrid, known for its cultural and historical importance. The square features a prominent monument dedicated to Miguel de Cervantes, the renowned Spanish writer best known for his classic novel 'Don Quixote'. This monument, which includes statues of Cervantes and his fictional characters Don Quixote and Sancho Panza, serves as a tribute to the lasting impact of his literary contributions. As a bustling gathering place, the plaza also hosts various events and offers a window into the vibrant life of Spain's capital.