Madrid's Car Ban in Central Area Linked to 9.5% Retail Spending Boost, Bank Analysis Finds

1. What happened

   According to a Forbes report, an analysis by Spain's second-largest bank found that closing central Madrid to cars was associated with a 9.5% boost in retail spending.

2. When it started

   The related text says the ban took effect last Christmas. The Forbes article's web address indicates it was published on 8 March 2019.

3. How it spread

   The source describes the finding as coming from a bank analysis, but the report does not give the bank's name or the method used. The related text says the city banned cars from the central business district (CBD).

4. Why it matters

   The analysis suggests that restricting car traffic in a city centre may increase spending at local shops and restaurants. The source does not say whether the effect lasted beyond the holiday period.