Latest news with #CaixaBank
Local Spain
03-07-2025
- Business
- Local Spain
Why are fewer American tourists visiting Spain this summer?
American tourism in Spain is slowing down after a strong post-pandemic period, causing experts to worry that the shortfall may negatively impact the Spanish economy in 2025. According to a recent tourism sector report by CaixaBank Research, titled Uncertainty and American Tourism, it is estimated that the downturn could hit Spain's tourism GDP growth by as much up to one percentage point this year. In a context in which the travel industry is slowing overall, going from 6 percent in 2024 to 2.7 percent, in 2025, the slowdown in the American market stands out as a 'relevant' factor to take into account in terms of the Spanish market, according to the bank's findings. The report points to several possible explanations, including a weaker dollar and global economic instability caused by President Donald Trump's trade policy as possible reasons causing Americans to stay home. 'The appreciation of the euro against the dollar, the slowdown of the U.S. economy, and an increase in political and economic uncertainty appear to be behind this change in trend,' the report states, pointing to November 2024, when Donald Trump returned to the White House for a second term, as a turning point in the longer-term trends. However, it should be noted that the 'slowdown' refers to tourism growth among Americans going from exceptionally fast to slower but still growing overall. 'Passenger arrivals from the US slowed abruptly, going from 17.5 percent year-on-year growth in the first 10 months of 2024 to just 2.3 percent between November 2024 and May 2025,' the report says. American tourists in Spain spend well above average for foreign tourists in the country. Last year, they accounted for 4 percent of the nearly 94 million foreign tourists but 7.1 percent of overall spending. In cities such as Barcelona, they already represent a large group of foreign travellers, although their prominence has been growing across the country in recent years: since 2019, arrivals of Americans travellers increased by 28.3 percent, compared to 12.3 percent of total international arrivals. However, CaixaBank points out that spending with US bank cards in Spain has gone from growing by 17 percent year-on-year between January and October 2024 to falling by 2.2 percent between November of that year and May 2025. In contrast, total spending with foreign cards slowed more moderately, with an increase of 11.1 percent between January and October 2024 to 8.5 percent between November and May. The research also identifies the areas of Spain most affected by a drop in American visitors, pointing to an urban preference among tourists coming from the States: 'If we breakdown Spanish municipalities into urban (more than 30,000 inhabitants) and rural, and between coastal and non-coastal, we observe that the influence of American tourism is particularly significant in non-coastal urban municipalities (14.7 percent), around Barcelona and Madrid, according to the latest analysis by Turespaña. In rural municipalities, both coastal and non-coastal, the influence of American tourism is slightly above 4 percent.' Nevertheless, David César Heymann, economist at CaixaBank Research and author of the report, points out that the number of American travellers to Spain grew much more in 2024 than in Europe as a whole (22.3 percent compared to 7.3 percent), which is why the slowdown is now more pronounced. From January to April this year, Spain received 25.6 million international tourists, 7.1 percent more than in the same period in 2024. Year-on-year growth at that time was much higher, at around 18 percent. Average spending per tourist, an indicator used to measure the value of visitors, has barely increased by 2 percent in the first four months of the year, well below the 7.1 percent increase experienced last year.
Euronews
01-07-2025
- Euronews
Escape Europe's heatwave with these scenic walking coolcations
Europe is currently sweltering amid a brutal heatwave, with temperatures soaring above 40°C in some areas. It's a similar story to last summer and, unsurprisingly, travellers are beginning to adapt. Already, one study has crunched the numbers and found that visitors are shying away from hot destinations this summer. The research by CaixaBank claims that up to 14 per cent of international visitors who would normally holiday in Spain have chosen to look elsewhere amid record-breaking temperatures in recent years. The result is a pivot to so-called 'coolcations'. Walking holidays specialist and co-op HF Holidays also reports that many of its mountainous and northern walking trips have been selling out. If you're looking for a fresher escape this summer, here are a few hiking routes to consider. Walk through breathtaking landscapes in Italy's Dolomites Last year, a new hiking trail winding through the wild, nature-rich landscape of Italy's Dolomites mountain range opened. The Cammino Retico is named after the ancient Raeti people who lived in the area in pre-Roman times. It connects various remote villages between the Veneto and Trentino regions. Set out by the social association Carpe Diem, the Cammino Retico begins and ends in Aune di Sovramonte, near the city of Belluno. The circular route is 170 kilometres long and can typically be completed in seven days. Island-hop with Sweden's archipelago trail The Stockholm Archipelago Trail launched in October 2024. The 270-kilometre hiking route connects over 20 islands, giving walkers the chance to traverse Sweden's rugged landscapes and pristine nature. The trail is well-marked and has amenities such as benches, shelters and fireplaces. Hiking for beginners in the Tatra Mountains The Tatra Mountains are part of the Carpathian chain, which forms a natural border between Poland and Slovakia. Many trails are extremely accessible, making it the perfect place for hikers with limited experience of trekking through the mountains. On the Slovakian side, you can even take a cable railway such as the Kasprowy Wierch, which takes you to the Lomnitz Peak, the High Tatras' second highest mountain at 2634 metres. In summer, head up high for a breath of fresh air amid icy lakes and wildflower meadows. Trek through fjords and mountains on St Olav's Way Saint Olav's Way in Norway is an ancient pilgrimage on Europe's list of walking routes. Seven possible routes take trekkers through rural parts of the country to Trondheim Cathedral, where Saint Olav, who was King of Norway from 1015 to 1028, is said to be buried. Travellers have been using the route since 1032, with a number of shelters built along the way through its hundreds of years of history. It requires a bit of planning, with hotels and lodgings more spaced out than on other trails. It is best to tackle this route between May and August, as bad weather and short days can hamper progress in autumn and later in the year.
Finextra
26-06-2025
- Business
- Finextra
CaixaBank rolls out iPhone Tap to Pay
CaixaBank has today launched Apple's Tap To Pay solution on iPhone to enable businesses in Spain to seamlessly and securely accept in-person payments with the iPhone, without any additional hardware or payment terminal needed. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. With Tap To Pay on iPhone, merchants can accept payments with contactless cards and mobile payments, including Apple Pay and other digital wallets, using only an iPhone and the Smartphone TPV app. CaixaBank has become the first financial institution in Spain that allows its business customers to operate easily with their iPhone. Improved purchasing experience With Tap to Pay on iPhone, at checkout, merchants will simply prompt the customer to hold their contactless payment method near the merchant's iPhone, and the payment will be securely completed using NFC technology. Tap to Pay on iPhone uses built-in security and privacy features to help protect your business and customer data. Apple doesn't store card numbers or transaction information on Apple servers, so merchants and customers can rest assured that their data stays theirs. * Merchants can unlock contactless payment acceptance within minutes through the TPV Smartphone iOS app on an iPhone XS or later, running the latest version of iOS. Thanks to the support of global payment networks such as Visa and Mastercard, businesses can rely on a robust experience, with high security standards and universal acceptance, contributing to improving the experience of both the customer and the business offering the service. It is an ideal application for businesses that require mobility and flexibility, such as professionals who travel to their homes to carry out work, restaurants, shops that distribute goods, large establishments, among others. CaixaBank, leader in services for businesses, professionals and self-employed workers The launch of Tap To Pay reinforces CaixaBank's leadership in services to businesses. Through Comercia Global Payments, the bank manages more than 805,000 POS in stores and has a market share of 30.5%. Thanks to its specialisation model, CaixaBank is a benchmark for businesses, professionals and self-employed workers, offering solutions tailored to their needs. The customer service is provided by CaixaBank Negocios, the division that develops products and services tailored to their specific needs, with close and comprehensive advice, not only through financial support, but also through support in their day-to-day management. Comercia Global Payments' mission is to provide the highest quality payment management service in the world, through solid partnerships and a strong commitment to our customers and employees. As a subsidiary of CaixaBank and Global Payments, Comercia Global Payments shares the objectives of these companies by offering the best and most complete payment management service to the greatest number of customers and intermediaries to meet their needs with flexibility and high adaptability. Innovation, continuous improvement and exceeding our customers' expectations are among the company's core values, a benchmark for the entire organisation and the key to our management model. Comercia Global Payments has strengthened its position as a leading payment service provider in Spain. * The encrypted card numbers are stored temporarily on the iPhone only for transactions carried out in Storage and forward mode.
The Guardian
17-06-2025
- Business
- The Guardian
UK bank TSB could be sold off by Spanish owner Sabadell
The Spanish bank Sabadell has said it has received interest from prospective buyers of its UK division TSB, and said it would assess any firm offers it may receive. Sabadell wants to sell TSB as it battles to fend off an €11bn (£9.4bn) hostile approach from its Spanish rival BBVA. The Catalonia-based lender said it had received 'preliminary non-binding expressions of interest' for TSB from unnamed bidders, and would examine any potential binding offer. TSB has more than 5 million customers, and made headlines during a large-scale IT meltdown in 2018. Sabadell acquired TSB, which was previously owned by Lloyds Banking Group, for £1.7bn a decade ago. At the time, the bank wanted to 'internationalise' and expand outside Spain. However, the lender, which was created in 1881 by 127 families in Catalonia with the aim of financing local industry, has been locked in a prolonged takeover battle with BBVA for more than a year, casting uncertainty over TSB's future. Spain's socialist-led government, which has been opposed to a combination of the two big banks, last month carried out a full review. Together, BBVA and Sabadell would be the second-biggest player in the loan market, ahead of Santander but behind CaixaBank. The European Commission said last year it did not have any objections to the takeover of Sabadell after completing a foreign subsidies review. In November, TSB appointed Marc Armengol as chief executive, and he took over at the start of this year. He is a former strategy director at TSB who has served on the board since 2022, and originally joined Sabadell in 2002. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion A sale of TSB could generate between £1.7bn and £2bn, a source told the Financial Times. Also on Tuesday, the Irish government said it had sold its remaining shareholding in AIB Group, one of the country's two biggest lenders. It was nationalised 15 years ago as part of the eurozone's biggest state rescue during the financial crisis. The government sold a 2.06% stake in AIB at €6.94 a share, which will generate €305m, the finance ministry said. This will take the total returned to the state from its investment to €9.8bn.
Irish Times
09-06-2025
- Business
- Irish Times
Irish-led Novo Banco said to get multiple bids
Novo Banco , the Portuguese bank lead by former AIB chief financial officer Mark Bourke , has attracted two bids from French banking group BPCE and CaixaBank of Spain, according to people familiar with the matter. Lone Star, the US private equity giant which owns Novo Banco, could sell the lender outright but is also evaluating whether to offload shares through an initial public offering, said the people, who asked not to be identified as the discussions are private. A preliminary decision on a winning bidder or the IPO route could be made as early as this week, the people said. Representatives for BPCE, CaixaBank and Lone Star declined to comment. Mr Bourke was CFO of AIB from 2014 to 2019, helping lead the bank through its IPO in 2017. He moved to Novo Banco as CFO before taking the top job in 2022. READ MORE [ Former AIB finance chief advances plan to float Portuguese bank Opens in new window ] US private equity firm Lone Star owns a 75% stake in Novo Banco, while Portugal's government holds 25% through entities including the country's Resolution Fund. JB Capital said in a research report in March that it estimated Novo Banco could be valued at between €5.5 billion and €7 billion. An acquisition of Novo Banco by BPCE, whose units include Banque Populaire and Natixis, or CaixaBank would be an important mark for cross-border banking deals in Europe. Governments in the region have recently hampered potential deals – Spain has been opposing the planned takeover of Banco Sabadell by BBVA, Italy is seeking to obstruct the purchase of Banco BPM by UniCredit, and Germany has said it's against a potential acquisition of Commerzbank by UniCredit. Portuguese finance minister Joaquim Miranda Sarmento said in May that Spanish banks shouldn't further increase their presence in the country. Spanish lenders now already represent about a third of Portugal's banking market, he said in a television interview. 'I think that value shouldn't increase, due to a matter of concentration and of dependency,' he said. CaixaBank shares slipped 0.4% in Madrid on Monday. The Spanish lender already owns Banco BPI, Portugal's fifth-largest bank. Novo Banco is Portugal's fourth-biggest lender. It posted its first profit in 2021 and its net interest income climbed as central banks raised interest rates. Novo Banco previously had to shed assets and sell soured debt to reduce its non-performing loan ratio, which was one of the highest in Europe after the bank emerged from the break-up of Banco Espirito Santo SA a decade ago. Novo Banco has about €17 billion in corporate loans, €10 billion in mortgage loans and €2 billion in personal loans, according to a May 6 presentation. It has 1.7 million clients. The Portuguese bank has repeatedly said it's preparing for an IPO. If Lone Star picks that option, Novo Banco may be Portugal's first major IPO in four years and the biggest since the listing of EDP Renovaveis in 2008. Finance Minister Sarmento said in January that Lone Star planned to sell a stake of about 25% to 30% of Novo Banco in an IPO. Novo Banco's IPO could raise €1 billion or more depending on investor demand. The lender picked Bank of America, Deutsche Bank and JPMorgan Chase as global coordinators for the first-time share sale. Lone Star also lined up Deutsche Bank to guide discussions with potential buyers of Novo Banco. Mr Bourke said in an interview on May 6 that Novo Banco was 'well advanced' in drafting a prospectus for a possible IPO, which it aimed to carry out in June at the earliest. Banco Espirito Santo, once Portugal's biggest lender by market value, got a roughly €5 billion rescue in 2014 after regulators ordered it to raise more capital following the disclosure of potential losses on loans linked to companies in the family-controlled Espirito Santo Group. The Portuguese central bank moved the lender's deposits and most of its assets to Novo Banco. Lone Star then agreed to inject €1 billion in Novo Banco when it bought its stake in the bank in 2017. – Bloomberg
