In 2016, cash share made up 22.9% of Spain's GDP (PYMNTS, Jan 2018)

Jan 15, 2018


The latest PYMNTS Global Cash Index™ Spanish Edition (a Cardtronics collaboration) is packed with figures about Spain's cash use, including the number of ATMs and bank branches per 100,00 people.

Despite the country's decline in cash use, Spain’s cash share in 2016 accounted for 22.9% of the country’s GDP. 

Excerpt from PYMNTS Global Cash Index™ Spanish Edition (page 2)

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.

Cash makes up 22.9% of Spain's GDP (PYMNTS, Jan 2018)


PYMNTS. 'Global Cash Index™ Spanish Edition'. PYMNTS and Cardtronics. Electronically published on January 12, 2018. Accessed January 13, 2018.

About the Index
The 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.

Related Articles

Cash Matters Keeping Cash: Assessing the Arguments about Cash and Crime Curtailing cash will do little when criminals already make use of a diverse portfolio of payment technologies and types.[...] Increasingly, electronic forms of transmitting and converting value are just as essential, if not more so, in supporting criminal as well as terrorist activities.

Euro Weekly News Spanish government to limit cash spending to €1000
The Spanish government have announced a series of proposals designed to tackle tax fraud. The first is to lower the limit on the amount of cash that can be spent in one transaction from an existing €2,500 to €1,000... These measures were due to be approved in the Council of Ministers on Friday 2 December 2017.

Article tags

Last Updated: Feb 7, 2020