Private credit bureau coverage in Spain has seen significant fluctuations over the past decade. From 2013 to 2016, coverage varied substantially, with notable peaks and troughs. A decline from 2017 onwards became more pronounced, especially in 2019, with a sharp decrease by more than half. Although there was a brief recovery in 2020, a downward trend continued into 2023, where the coverage stood at 9.3% of the adult population. The average year-on-year decline over the past five years (CAGR) was 9.94%, indicative of a persistent downward trend.
Future trends to watch for include:
- Continued modest decline, with forecasts indicating a further drop to 8.2% coverage by 2028.
- The anticipated 5-year CAGR suggests a decrease of 2.06%, signaling steadier but still declining coverage levels.
- Potential impacts of economic policies or regulatory changes that could stabilize or alter the trend.