Bankinter : In Spain, credit card payments increase by 4% for entertainment and at restaurants, according to Bankinter Consumer Finance statistics

Spanish consumers have increased their spending on non-essential products and activities in the last three months. In a sample of over 150,000 credit card holders taken by Bankinter Consumer Finance, the consumer lending subsidiary of Bankinter Group, statistics reveal that credit card payments at restaurants have cumulatively increased over May, June and July 2017 by 4% from a year ago. At hospitality establishments, the average Spanish consumer spent 199 euros with their credit cards in the last three months.

During the summer holiday season between May and July 2017, Spanish consumers spent 3% more than they did during the same period a year ago on entertainment, with an average card payment amount for entertainment activities of 143 euros per person.

Also, during the summer holiday period, individual travel spending remained constant, although it is more than double the amount paid with credit cards in restaurants and for entertainment. According to the statistics reported by the Bankinter Consumer Finance, travel-related purchased reached an average 447 euros per person.

All this data match the spike in credit card payments demonstrated by statistics from Banco de España, the Spanish financial supervisor, which reveal a 21% increase in this type of payments made by Spanish consumers.

Canary Islands, Catalonia and Andalusia show the highest levels of individual spending in July

The Canary Islands were the autonomous region with the highest individual credit card spending in July 2017, up from an average 316.46 euros per person in July 2016. They were followed by Catalonia and Andalusia, with average individual credit card spending amounts of 301.80 and 297.20 euros, respectively. In the autonomous regions of the Basque Country and Madrid, individual credit card spending averaged more than 270 euros. Individual credit card spending in the remaining autonomous regions falls below this figure.

On the other hand, Extremadura and Castile-La Mancha are the autonomous regions with the lowest average credit card spending per person, at under 190 euros (more specifically, 177.60 and 183.83 euros, respectively). This is over 130 euros less than the average credit card spending per person in the Canary Islands.

Also under 200 euros in average credit card spending are Navarre and Castile-Leon, standing at 185.81 and 196.46, respectively.

Bankinter Consumer Finance is Spain's fourth largest financial institution. Its business grew the most during 2016, with a 46% increase in new lending from 2015. At the end of June 2017, its credit lending to customers totalled 1.2 billion euros, up 43% from last year. Only one third of its customers come from Bankinter.Bankinter Consumer Finance is Spain's fourth largest financial institution. Its business grew the most during 2016, with a 46% increase in new lending from 2015. At the end of June 2017, its credit lending to customers totalled 1.2 billion euros, up 43% from last year. Only one third of its customers come from Bankinter.