Spain | DANA in the Valencian Community: Real-time monitoring of the economic impact

Summary

The objective of the first issue of this weekly observatory is to contribute to monitoring the economic impact of DANA on families and companies in the affected areas, report on the relief provided by public policies and provide data that can help improve them.

Key points

• Key points:
• Total face-to-face spending in the province of Valencia fell by -14% year-on-year in the week ending November 3, according to card purchase data from both BBVA customers and non-customers at BBVA POS.
• The analysis by card origin shows similar results. Spending with national cards decreased by -14% year-on-year in the week ending November 3 and was 19 pp below what was seen in the rest of Spain. Regarding foreign spending, it fell 8% year-on-year in the same period.
• By sector, almost all showed a strong deterioration, with the exception of food, which evolved more favorably than in the rest of Spain. The fall was especially intense in spending on travel agencies, accommodation and restaurants.
• Passenger car registrations showed significant adjustments. Between October 29 and 31, they had a differentially negative behavior in the provinces of Alicante and Valencia, with variations between 60 and 80 pp lower than those observed in the rest of Spain.
• Spending by zip code reveals very significant drops. In the municipalities most affected by DANA, the adjustment in consumption showed great homogeneity: year-on-year reductions between 80% and 100% that contrast with decreases of less than 20% in the Valencian Community as a whole.

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