The credit bureau coverage in Spain has exhibited significant fluctuations from 2013 to 2023. Starting at 15.6% in 2013, the coverage saw a peak of 17.9% in 2016. However, a notable decline followed, especially sharp in 2019 when coverage dropped to 7.5%. By 2023, the rate had decreased to 9.3%. Analyzing year-on-year variations shows the most dramatic change between 2018 and 2019 with a -52.23% variation, while the recent two-year trend indicates a stabilization with around a -2% decrease annually. The 5-year CAGR preceding 2024 stands at approximately -9.94%, signaling a sustained decline.
Looking towards future trends:
- The forecast coverage rate is anticipated to further decline to 8.2% by 2028.
- Continual efforts in digitalization and data privacy policies may influence credit bureau operations and coverage rates.
- Evolving financial behaviors and alternative credit scoring mechanisms could reshape the landscape.
