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National tourism spending remained dynamic in August. The monthly growth reached 9% compared to 2019 levels (7% in July). If spending by Spaniards abroad is excluded, the increase was of 18% (18% in July).
September 7, 2021
Spain | Impact of COVID-19 on consumption in real time and high definition in Aug-21
Card spending in August was 35% higher than in Aug-19 (28% in July). Transactions with Spanish cards gained momentum, especially non-face-to-face (139%), while those with foreign cards narrowed the gap with 2019 figures.
Card spending is in positive ground in the last weeks of August, but without a clear trend. Spending on services continues to recover better than spending on goods, but both remain below pre-pandemic levels.
August began with a YoY recovery of consumption in real terms, although its level is lower than before the pandemic. The end of the winter vacations significantly contracted tourism and leisure spending, while the rest of the categories remain weak.
The recovery in national tourism spending continued throughout July. The increase in the month was 7% compared to 2019 levels (18% if spending by Spaniards abroad is excluded), which represents an acceleration compared to what was observed in June (-4%).
Card purchases in July were 28% higher than those made in the same month of 2019. The increase in spending with Spanish cards, both in person and online, offset the decline in transactions with foreign cards. However, they moderated their decline, especially in the face-to-face channel.
Spending grew 6.9% MoM in real terms in July. However, it is still 5.7% below Jul-19 levels and 5.3% below Jul-20. The negative variation vs 2020 is mainly explained by the Hot Sale that took place that month. The winter holiday balance was not negative even though it remained below the 2019 one.
Total consumption started July with a slight growth returning it to pre-pandemic levels, although lower than in the same period of 2019. Increases in categories associated with tourism and leisure, mainly, stand out.