Hoy por Hoy – La economía de Hoy por Hoy | España va a gastar casi un 5% más esta Navidad

Date: November 14, 2025
Host: SER Podcast (Àngels Barceló)
Guest/Analyst: Jordi Fábrega
Main Theme:
A detailed look at consumer spending trends in Spain for the 2025 Christmas season, delving into how economic conditions, purchasing behaviors, and European comparisons are shaping holiday expenditures.

Episode Overview

The episode centers on Spain’s expected increase in Christmas spending for 2025, with a discussion on the driving factors behind this rise, the types of purchases most in demand, and how Spain compares to its European neighbors. Insights are drawn primarily from a recent Mastercard report, with Jordi Fábrega providing analysis on the numbers and underlying trends.

Key Discussion Points & Insights

1. Significant Increase in Christmas Spending

• Spain’s Christmas expenditure is forecast to grow by 4.8% over the 2025 season, outpacing the European average of 3.1% among nine countries studied. (00:26)
• Timeframe considered: Spending analyzed encompasses November and December up to Christmas Eve.

Notable Quote:

“Un 4,8% o más vamos a gastar en total estas Navidades... En España 4,8. Así que es algo superior. Gastaremos más.”
— Jordi Fábrega [00:26]

Main Drivers:

• Improved job market: Lower unemployment rates.
• Salary increases outpacing inflation: Resulting in real gains in purchasing power.

Consumer caution:

• Despite spending more, people remain “muy sensibles al precio,” opting for smaller or cheaper purchases rather than extravagant ones. (00:26–01:00)

2. Shift in Types of Purchases

• Growth centers on affordable treats and second-hand products rather than large-ticket items. (01:27)
  • Second-hand clothing: The single largest growth category, especially popular among people under 30, with nearly a 5% increase predicted.
  • “Pequeños caprichos”: Small indulgences, notably in fashion and beauty.
  • Food: Increased spending on premium food and delicacies.
  • Specialty and temporary stores: Rise in shopping at exclusive retailers and pop-up stores limited to the season.
  • Experiences: Growing expenditure on live experiences—such as dining out or attending events—continues as a recent trend.

Notable Quote:

“Lo que más crece según este informe, va a ser el gasto en compra de ropa de segunda mano, con casi un 5% de crecimiento, y especialmente es en el segmento de los más jóvenes.”
— Jordi Fábrega [01:30]

3. Travel Trends

• International travel is on the rise, especially to destinations outside Europe. (02:39)
  • Of the top 10 destinations for Spanish travelers, 6 are non-European, including Tailandia, Egipto, Japón, and Vietnam.
  • Within Europe, Italy, Norway, and Denmark remain favorites.
  • The higher cost of long-distance travel also contributes to the boosted overall holiday spending.

Notable Quote:

“Este año van a crecer los viajes con destino fuera de Europa. De hecho, de los 10 destinos principales, 6 están fuera este año.”
— Jordi Fábrega [02:43]

4. Cross-Europe Comparisons

• There are marked differences between countries in both the types and magnitude of Christmas spending. (03:21)
  • Germany: Leading holiday spend on live events.
  • Czech Republic: Cosmetics and toys are top categories.
  • Italy: Noteworthy for increased appliance buying and highest daily food spend at 39 euros (compared to Spain’s 32 euros).
  • Spain: Fashion and footwear are most distinctive compared to other countries.

Notable Quote:

“En Alemania lo que priorizan los consumidores es la participación en eventos en vivo. En Chequia lo que lidera el gasto es la compra de cosméticos y de juguetes. En Italia... el gasto en comida durante el periodo navideño, con un gasto de 39 euros de media diaria.”
— Jordi Fábrega [03:27]

Memorable Moments

• Jordi details the growing importance of second-hand shopping among young consumers:
  “El gasto en compra de ropa de segunda mano... especialmente es en el segmento de los más jóvenes, los que tienen menos de 30 años, los que más compran este tipo de productos.” [01:33]

• The specificity of food spending across Europe:
  “En España... ese gasto de media en comida... es de 32 euros diarios, por tanto menos que Italia, pero también por debajo de lo que se gasta en otros países como Alemania o como Reino Unido.” [04:05]

Timestamps for Important Segments

• 00:26: Spain’s forecasted Christmas spending growth and drivers
• 01:30: Breakdown of category growth, notably second-hand and small treats
• 02:39: Travel and destination trends for the holidays
• 03:27: European country-by-country comparison of holiday spending

Tone and Style

The discussion is candid, analytical, and light, with flashes of humor (e.g., the host joking about Christmas carols starting early). The focus remains on informing the audience with data-driven insights while maintaining an accessible, conversational rhythm.

Summary Takeaway

This episode delivers a thorough exploration of Spain’s evolving Christmas consumption habits for 2025—marked by higher, yet strategic, spending. Spanish households are set to open their wallets a little wider this festive season, especially in areas like second-hand fashion and luxury food, reflecting both newfound financial confidence and continued price sensitivity. Distinctive travel preferences and sharp contrasts with neighboring countries add depth to the economic picture of the European holiday season.