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Economics & benefits

The economic impact of the low-emission area in Madrid Central

Overview

Organisation:
BBVA and City of Madrid

Media type:
Research

Topic:
Economics & benefits

Setting:
Town centres / Urban

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Closing Central Madrid To Cars Resulted In 9.5% Boost To Retail Spending, Finds Bank Analysis
The City of Madrid’s imposition of a “low-emission zone” for the Christmas period led to benefits to citizens as well as shops and restaurants.

Key statistics

9.5%
increase in retail takings on Madrid’s main shopping street, after closing the city centre to cars
Madrid closed its central business district to cars for the first time during the 2018 Christmas period and an analysis informed by Spain’s second largest bank has found that, year-on-year, till transactions were significantly boosted by the measure. The closure also had another benefit: cleaner air.
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