City of Madrid significantly boosted the takings of its shops and restaurants last Christmas by banning cars from the CBD, finds an analysis by Spain's second largest bank.
Share to twitterCar use was restricted in Central Madrid during the 2018/2019 Christmas period leading to a significant increase in pedestrian footfall – and spending.Cities which want to boost takings in shops and restaurants should restrict access for motorists, a new study suggests.
the decision to limit road access to the city center by motorists led to a 9.5% increase in retail takings on Madrid’s main shopping street, the compared the 2018 takings with retail data from two previous Christmas periods, and found a 3.3% increase in spending across the whole of Madrid thanks to the restriction on car use in the central area., carried out in association with the City of Madrid, measured sales between December 1, 2018 and January 7, 2019.
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