Sectoral and Digital Economy Analysis & Industrial Organization
Sectoral and Digital Economy Analysis & Industrial Organization latest publications
NFTs, ETFs, AI, VR, Web3, CBDCs, BEPS, NGEU... 2022 brings an alphabet soup for a slew of digital aims and strategies that come full of promise. Whether they take off or not will depend on moving forward steadily, with a focus on asking the right questions at each step.
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 2015, 54% of the population had basic or advanced digital skills in Spain, compared to 57% in the EMU. Four years later, the figure reached 57%, one percentage point less than in the wider EMU. From 2019 to 2020, the figure in Spain rose to 60%—still far behind the 80% target set by the 2025 Digital Agenda.
The percentage of the population that has at least basic digital skills is lower in Spain than in the EMU as a whole and fell between 2015 and 2019. Although it rose in 2020 to 60% (65% of Internet users), it is far of the 80% target established in the 2025 Digital Agenda.
We analyze and clarify the market misperceptions on the "three pillars" of China's new growth model: common prosperity, self-sufficient technology under "dual circulation" strategy and carbon neutrality. We also identify winners and losers of the sectors under the new policy paradigm.
According to BBVA's credit card spending data, foreign tourist spending was above the 2019 records for the first time since the start of the pandemic. This, added to the positive effect of domestic tourism, led to a 17% growth in total spending in the sector compared to Oct-19.
November 5, 2021
Spain | Impact of COVID-19 on consumption in real time and high definition in Oct-21
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.
The COVID-19 crisis has severely disrupted value chains. Not only during the onset, but also in recent months. In light of this, BBVA Research has significantly revised growth forecasts downward.