Spain | Impact of COVID-19 on consumption in real time and high definition in Dec-21

Card spending grew by 45% year-on-year in January (31% in Dec-21). The advance was greater in the online channel (62%) than in the face-to-face channel (38%), and both purchases with Spanish cards and with foreign cards rebounded.

Key points

• Key points:
• Fewer health restrictions and favorable weather conditions boosted face-to-face consumption during the first fortnight of January compared to 2021. The improvement in spending with foreign cards accelerated in the second fortnight after the opening of borders, but its weight barely reached 8%, 6 points less than in Jan-20.
• Activities involving travel, such as accommodation, travel and transport, and those carried out in society, such as restaurants and leisure, led the year-on-year growth in spending. The advance was more restrained in products that are consumed at home, such as food.
• The increase in mobility compared to January 2021 boosted face-to-face transactions in tourist destinations, especially inland and winter destinations, such as Huesca, Badajoz, Segovia, Teruel and the Balearic Islands. Navarra and the Basque provinces, with greater health restrictions, and Ceuta and Melilla exhibited less dynamism.
• Card cash withdrawals grew by 16% year-on-year, but remained 4% below those made in January 2020. The weight of withdrawals fell to 20%.

Authors

Geographies

Topics

Tags