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

Summary

Card spending in October was 40% higher than in the same month of 2019 (37% in September) driven, above all, by the recovery of purchases with foreign cards, which exceeded 2019 records for the first time since the beginning of the health crisis.

Key points

• Key points:
• Both face-to-face (32%) and online (75%) transactions gained traction.
• The advance in face-to-face purchases was greater in the hotel industry, boosted by the 12th long weekend. In the online channel, the upturn in consumption in restaurants, leisure, transport, travel and accommodation offset the loss of dynamism in the other sectors.
• Face-to-face transactions exceeded 2019 levels in all provinces. The increase in purchases with foreign cards accelerated in October, especially in the Balearic Islands, Andalusia and Catalonia. The 12th holiday boosted spending with Spanish cards in all the autonomous communities, particularly in Andalusia and the Valencian Community.
• Unlike purchases, card cash withdrawals continued below those made in Oct-19 (-2%). The weight of refunds in total operations remained at 21%.

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