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Economy

Economy

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Fewer mobility restrictions are beginning to bear fruit and some countries are starting to show signs of recovery, although at different speeds. The U.S. Sunbelt and Turkey are leading the way. In Spain, lifting the lockdown restrictions in different phases is leading to unequal recovery among the regions. These are the main conclusions of a weekly study that analyzes the dynamics of expenditures in the countries where BBVA operates during the COVID 19 pandemic.

BBVA Research has used big data technologies to examine the impact of COVID-19 on Spanish consumption. The conclusions reflect a 49 percent average decline in consumer spending. The analysis has led to a collaboration between researchers at BBVA Research, the University of Cambridge, the Imperial College of London, and the University of Edinburgh. The use of anonymous transactional data to gain a real-time reflection of reactions to the crisis and economic policies was justified for decision-making purposes.

‘No one left behind’ in the fourth industrial revolution: this is the commitment made by various international organizations including the United Nations and the International Labour Organization. The United Nations 2030 Agenda for Sustainable Development commits to the principles of universality and equality, two fundamental ideas that should be redefined in the context of the digital revolution. How can these principles be ensured in the midst of the profound change produced by technological progress?

“Work in the Age of Data” is the 12th book in the collection published by BBVA to disseminate and discuss fundamental issues of our time. This series is part of the bank’s OpenMind project — a digital community that aims to generate and disseminate knowledge in an open and free manner.

The book, which addresses the effects of the digital revolution on the labor market, can be downloaded for free in Spanish and English in different electronic formats.