Market Research Report
Payments Snapshot in Spain - Coronavirus (COVID-19) Sector Impact
|Published by||GlobalData||Product code||943951|
|Published||Content info||23 Pages
Delivery time: 1-2 business days
|Payments Snapshot in Spain - Coronavirus (COVID-19) Sector Impact|
|Published: June 17, 2020||Content info: 23 Pages||
The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
The pandemic has caused significant economic disruption and reversed Spain's GDP growth. With the government now easing lockdown restrictions in a phased manner, a gradual recovery in the economy and a rise in consumer spending should be seen.
On March 17, 2020 the Spanish government announced a stimulus package worth €200bn ($224.5bn) - equivalent to a fifth of the country's GDP. The package included €100bn ($112.3bn) of guarantees for business loans and €17bn ($19.1bn) of direct aid to companies. The government also earmarked €30m ($33.7m) for research on developing a Coronavirus vaccine.
This report focuses on the impact of the coronavirus outbreak on both the economyand the cards and payments industry in Spain. Based on our proprietary datasets, the snapshotprovides a detailed comparison between pre-COVID-19 forecasts andrevised forecasts of total payment card, debit card, and credit and charge card transactions by value and volume. It also offers information on measures taken by the government to combat coronavirus.