Catalans invest almost 3,000 euros more per year than the Spanish average

BarcelonaCatalans who are able to set aside a portion of their income generally invest more in assets than the average Spaniard. Specifically, they invest almost €3,000 more per year in various investment instruments, such as deposits, stocks, and shares in investment funds. They also show a greater preference than the Spanish average for investing in stocks, bonds, and fixed-income products, as well as cryptocurrencies. This is all revealed in a study conducted by Fidelity International, one of the world's largest asset managers, which indicates that, on average, residents of Catalonia who are able to save allocate an average of €13,900 per year to different investments, compared to less than €11,200 for the rest of the population. The asset manager, which produces a report on European investor sentiment, interviewed a total of 1,000 people in Spain, 160 of whom reside in Catalonia. However, the possibility of investing is not a habit accessible to everyone. According to Idescat, the at-risk-of-poverty rate was 17.4% last year, and around 10% of salaried workers fall into the category of those whose jobs do not lift them out of poverty and who have few or no opportunities for social mobility. This means they are excluded from any possibility of saving and, therefore, of investing. In any case, despite investing more in absolute terms than the national average, this does not mean they are the ones who allocate the largest portion of their income to savings. As reflected in an analysis by the Unión de Créditos Inmobiliarios (UCI), last year the average savings of Catalans stood at 18.4% of their income, above the national average (17.8%), but below that of the Basque Country (23.5%), Castilla-La Mancha (20.9%), Aragon (19.6%), La Rioja (19.2%), and the Balearic Islands (18.7%). One factor that could explain why the proportion of income allocated to savings in Catalonia—the fourth-highest region in terms of per capita income, according to data from the National Institute of Statistics—is lower than in other regions could be the higher cost of living. In fact, in Madrid, the region with the highest per capita income, this proportion is even lower, at 16.4%, according to the same study. In both Catalonia and Madrid, inflation in 2024 was 2.9%, above the national average of 2.8%. Data from the Bank of Spain on savings, which calculates savings as a percentage of gross disposable income after adjusting for seasonal and calendar effects, placed it at 12.4% in the second quarter of this year for the country as a whole, compared to 12.8% in the previous quarter.

Better understanding

In any case, according to the Fidelity report accessed by ARA, there is also a difference in investment objectives. The study reveals that Catalan savers "have a better understanding of finance, invest more—indicating a more active approach to seeking returns on their savings—and are better prepared for retirement than the national average." 57% say they save enough for retirement, slightly above the Spanish average (55%). The authors of the analysis attribute this to the fact that residents of this region "invest significantly more than the rest of the country." Based on the responses of those surveyed, it is concluded that "residents of this region have a better understanding of their investments: only 35% struggle to understand their finances, compared to 40% for the country as a whole." There are also differences in how people access investment information: 66% rely on professional advisors – compared to 61% nationally – 29% on financial media – similar to the national average of 30% – and 23% on friends and family – compared to 25% in Spain. Furthermore, Catalans are less likely to use alternative channels for information: 14% use investment platforms, compared to 18% nationally; 13% use websites, compared to 17% nationally; and 12% use investment podcasts, compared to 14% in Spain. In addition, 86% of those surveyed manage their own finances, significantly higher than the national average of 77%.