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Consumption in December grew 20.0%, closing the year with a similar dynamic to that recorded in November but lower than in October (24.8%). In the first part of January, goods have shown good dynamics while services fell compared to the peak recorded in December 21.
There is evidence that climate change is largely caused by human action: greenhouse gases emissions into the atmosphere are the main cause of global warming.
Taxation is a key tool for climate action and helps society achieve its decarbonization goals. Environmental taxation in Spain needs far-reaching reform, with taxable activities and rates that reflect the true extent of the negative externalities to be corrected.
In 2021, total card consumption recovered a similar dynamism to that of 2019. The evolution of the different categories reflects the uneven impact of the pandemic and the changes in habits it brought about. 2022 began with a YoY contraction in total spending due to the slowdown in consumption of services.
According to BBVA credit card spending data, tourist spending made by Spaniards remained 4% above the 2019 records in December (5% in November and 77% y / y). If spending by Spaniards abroad is excluded, the advance stood at 11% (14% in November and 71% in y / y).
2021 brought us the scientific certainty that climate change cannot be explained without human intervention. We can no longer look up as if we were not to blame. Ambitious calls for climate action from governments and multilateral agencies are a sign, but there needs to be a follow-through.
January 7, 2022
Spain | Impact of COVID-19 on consumption in real time and high definition in Dec-21
Card purchases in Dec-21 were 38% higher than in the same period of 2019, 2 points lower than in November (31% YoY). The slowdown in spending with foreign cards, both face-to-face (4%) and online (-35%), offset the increase in transactions with Spanish cards.
In December, spending with cards and cash withdrawals (BBVA Research's big data consumer index) increased 7.0% compared to the same month in 2019 (10.9% compared to December 2020).