The conflict in Ukraine, soaring inflation, and the energy squeeze are shaping a clear consumer confidence dip. While these forces dominate Spaniards’ concerns, Covid-19 has faded in significance. The broader international climate is already influencing Spain, pushing households to adjust spending and postpone some purchases. A consultant notes that this mix of pressures fuels a cautious, time-saving mindset among consumers and a drive to control costs.
Seventy-two percent of Spaniards expect bleak economic prospects, while seventy-four percent maintain a positive outlook on life. This snapshot comes from the Global Issues Barometer, a Kantar Insights study released in Europe, based on surveys across 18 countries. The report highlights a preference for the Carpe Diem philosophy, with Spaniards planning holidays and celebrations to mark life events postponed by the pandemic, reflecting a broader shift in spending behavior. The research draws on a large-scale survey conducted on 9 and 10 April with more than 10,000 participants, with responses captured verbally and analyzed through AI-based methods.
Stop the most important expenses
Director Martin Wohlhart notes that the decade began in crisis and now faces three simultaneous shocks: the end of the pandemic, rising inflation, and the ongoing war’s ripple effects. This combination places Spanish consumers at a highly cyclical spending phase, especially around holidays and major life events. Yet Wohlhart cautions that the trajectory of consumption will hinge on how the war evolves and how raw material costs move. Leisure spending will continue, but households are likely to pause on larger purchases and deliberate longer before committing.
Kantar finds that households meet essential needs while managing bills and groceries, with 69 percent and 85 percent respectively indicating no immediate budget strain. More expansive or longer-term expenses are viewed with prudence or hesitation: 55 percent say they cannot commit to buying a vehicle, and 31 percent would avoid risk even if funds were available.
Eighty-seven percent of Spaniards express concern about the Ukraine conflict, a level surpassed only by neighboring Poland. Beyond the war, worries span the economy and education (49 percent each) and health (45 percent), with the pandemic still cited by 38 percent as a concern. Spaniards show a desire for tangible action on social issues (30 percent), followed by economic measures (23 percent) and climate and environment (20 percent). The split underscores a clear gap between what worries people and what they feel should be addressed now.
About 68 percent perceive prices as rising sharply, a stronger sentiment than in other European economies such as Germany (59 percent), France (49 percent), and the United Kingdom (48 percent).
Four in ten Spaniards anticipate changes to their local economy to cut costs, while a third plan behavioral changes that protect the household budget, such as driving fewer kilometers and curbing fuel expenses. One in four expect to limit monthly savings, echoing a pandemic-era habit. Data from the INE show a savings rate of 15 percent of disposable income in 2020, a record high, which can influence future life plans. In fact, 40 percent already feel inflation has affected essential goals, including housing moves and retirement plans, with 17 percent noting an impact on moving and 14 percent on retirement.
Although the Ukraine war remains a major concern for nearly nine out of ten Spaniards, only about 14 percent want governments or international organizations to intervene. The pandemic prompts 38 percent to worry, but just 7 percent call for society or those responsible to act. Inflation prompts concern among 49 percent, yet only 23 percent demand concrete actions. Wohlhart observes that this mix creates a halo of resilience, with Spaniards adapting to crises and expecting a return to normal once tensions subside.
Climate change
A further finding is that climate concerns remain present but not as urgent as war or economic worries. About 20 percent cite environmental issues as a top concern, a share lower than in some nearby countries. Roughly 47 percent of Spaniards say they avoid certain products or services due to environmental or social impacts, and a similar share look for brands that align with sustainable practices, such as trees planted or other green initiatives. In short, sustainability is part of everyday decision making, but consumers also expect affordability from brands that pursue eco-friendly actions.