In this second article of the Dossier “Solidarity in Spain: snapshot of a committed society” we analyse how and to what causes Spaniards donate, based on an unprecedented data source: the donations made by CaixaBank customers through their banking transactions, duly anonymised.
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How innovative is Spain relative to its European partners? We analyse the evolution of Spain’s position in the European Commission’s innovation index.
We examine whether COVID-19 has changed e-commerce habits in Spain based on card payments by CaixaBank's 13.5 million customers, which have been anonymised and analysed using big data techniques.
In a context of gradual recovery of the Spanish economy during 2021, the trend in the real estate market has been very encouraging, especially on the demand side.
CaixaBank’s consumption indicators built using big data techniques and internal card spending data confirm the good dynamics of the catering sector in Spain and its close relationship with tourism.
In this article, we analyse the factors behind the recent behaviour of investment in Spain, comparing the current investment cycle with the previous one (2014-2019) and contrasting the situation in Spain with that of its main euro area partners.
To assess the extent to which demand for housing could be affected by the rise in interest rates, we calculate the expected trend in the theoretical mortgage burden ratio according to our current CaixaBank Research forecast scenario, recently revised following the invasion of Ukraine.
We have developed a real-time indicator based on payrolls deposited into CaixaBank accounts in order to analyse wage trends in Spain. The indicator provides very up-to-date information on wage dynamics, with a high degree of detail at the geographic and sectoral level.
The macroeconomic outlook is once again influenced by increased geopolitical uncertainty due to the conflict in Iran, which is primarily affecting energy prices. Spain is facing this scenario from a solid starting position, following a dynamic 2025 and a better-than-expected Q1 2026.
International tourism spending accelerated slightly in March 2026, driven by the redirection towards Spain of tourist flows from the main European source countries. This upturn offset the decline in tourism from East Asia, which, although intense, represents only a small portion of tourist arrivals in Spain.
The European real estate market has seen several years of strong growth. In fact, since early 2016, house prices in the EU have risen by 4.6% year-on-year on average, outperforming wages and GDP growth. This upward trend has been widespread across countries and also large cities. This article examines the factors underpinning this trend and whether it poses any risks.
The agrifood sector contributes a lot of value to Spain’s economy, accounting for 5.8% of its GDP, 11% when all the activities in the food chain are included. It is also notable for its great export potential and a resilience that has helped it to weather the ups and downs of the economy over the years. Consequently, although the main markets for Spanish agrifood exports have slowed as a result of increased trade tensions and uncertainty over Brexit, available activity indicators show that, for the time being, the industry is withstanding the situation reasonably well.
Climate change and the struggle to prevent it pose enormous challenges for agrifood production in Spain. In turn, improving the sustainability and resilience of the sector will be key to achieving the environmental targets set out in the European Green Deal. Agri-environmental indicators show that, despite some progress in recent years, the sector needs to tackle significant aspects, such as reducing the use of chemical pesticides, fertilisers and antimicrobials in agriculture, as well as improving animal health and welfare, increasing efficiency in the use of energy and water resources, promoting food consumption that is more sustainable and healthier and reducing food loss and waste, fostering a circular economy. The new CAP, with eco-schemes as its key measure, and the Next Generation EU funds will support the sector’s green and digital transition.
The economic policies implemented during the pandemic have cushioned the impact of the crisis on families’ financial situation. On the one hand, a further fall in household income has been avoided while, on the other, the ECB’s accommodative monetary policy has led to a reduction in debt interest payments. A detailed analysis of the effort required by households to pay off their mortgages, based on CaixaBank’s own internal data, duly reweighted to be representative of the Spanish population, shows that these measures have managed to reduce the mortgage burden during the pandemic for most households, although pockets of vulnerability still remain among low-income households.
In recent years, rural tourism has become increasingly important in Spain, opening up new avenues to diversify the sources of income for rural economies. In this article, based on internal CaixaBank data, we look at the upturn in the sector after the COVID-19 pandemic and its implications for the economic resilience of rural Spain and for the tourism industry, given its high level of sustainability both from the point of view of its impact on the environment and its greater geographic diversification and more limited seasonality compared to other, more traditional forms of tourism such as sun, sea and sand destinations.
Tourism ended this year’s summer season in great shape with international tourist arrivals coming very close to the records set in 2019, a year that was extremely positive for the industry. Domestic tourism has also continued to post very good figures. However, the macroeconomic scenario represents a risk for the trend in tourism activity over the coming quarters due to high inflation and the economic slowdown in Europe. Nevertheless, we believe that tourism demand still enjoys significant levers for growth in the coming year and we therefore expect the sector to complete its recovery in 2023.
According to the new CaixaBank Research Sectoral Indicator, the most energy-intensive branches of the manufacturing industry and the agrifood sector are the ones which suffered the most in 2023. At the other end of the spectrum we find sectors such as hotels and restaurants and the automotive industry, which performed rather well.
Since Spain’s tourism sector returned in 2023 to the peak levels of 2019, the sector has been showing no signs of cyclical exhaustion and it recorded strong growth in 2024.