According to the World Cash Report, currency in circulation (CIC) rose by 40% across Europe from 2011 to 2016. CIC measures the total amount of cash held by the public, including businesses, banks and consumers.
Excerpt from report
"Currency in Circulation (CiC) has increased by an average of 39.5% in local currency value across selected European countries in recent years (7.9% per annum). One notable exception is Sweden, which reported a decline in the absolute value of Currency in Circulation (local currency) of 34.9% over the past five years." (G4S 2018, p. 63)