In 2016, cash share made up 22.9% of Spain's GDP (PYMNTS, Jan 2018)
Despite the country's decline in cash use, Spain’s cash share in 2016 accounted for 22.9% of the country’s GDP.
One of the biggest contributors to the high cash usage in Spain is the country’s large rural population. Rural Spain, which is heavily reliant on cash to complete small, everyday transactions, accounts for as much as 20.2 percent of the nation’s total population...
Key findings include:
- Spain boasts an average of 107 ATMs per 100,000 people, one of the highest in Western Europe.
- The country has an average of 67 bank branches per 100,000. Meanwhile, in Western Europe, the average is 38 bank branches per 100,000. The worldwide average is 28 per 100,000.
- Spain’s cash share in 2016 accounted for 22.9 percent of the country’s GDP.
- Spain scores 41 out of 100 on the ATM Availability Index. That’s greater than the Western Europe score of 33 out of 100 and the worldwide average of 28 out of 100.
- Overall, approximately €253 billion in cash was spent in Spain in 2016.
PYMNTS. 'Global Cash Index™ Spanish Edition'. PYMNTS and Cardtronics. Electronically published on January 12, 2018. Accessed January 13, 2018.
About the Index
The PYMNTS.com Global Cash Index™, a Cardtronics collaboration, focuses on the use of cash for making payments and as a payment method that equally plays a role with cards, checks, direct debit and other methods of settling up between consumers and businesses. Unlike most reported estimates of cash, our proprietary data analysis focuses on the use of cash for making payments rather than hoarding.
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