Andorra Government and Andorran Banking Expand Collaboration to Enhance Tourism Spending and Mortgage Statistics
Andorra, December 23, 2024 – The Government of Andorra and Andorran Banking have agreed to expand their collaboration to improve the collection and analysis of statistics on tourism spending and mortgages. This initiative aims to provide more accurate and timely data to support policy-making and economic planning.
Under the new agreement, Andorran Banking will collaborate with the Department of Statistics to develop a new methodology for collecting data on tourism spending. This will include the use of advanced technologies, such as big data analytics, to capture information from various sources, including credit card transactions, mobile phone data, and social media platforms.
The collaboration will also focus on enhancing the quality of mortgage statistics. Andorran Banking will provide access to anonymized data on mortgages, including information on loan amounts, interest rates, and loan terms. This data will be used by the Department of Statistics to produce regular reports on the mortgage market in Andorra.
The improved statistics will provide valuable insights into the tourism sector and the housing market in Andorra. This information can be used to develop policies and strategies to attract more tourists, promote economic growth, and ensure the stability of the financial system.
Speaking about the collaboration, Andorra’s Minister of Finance, Jordi Cinca, said: “This agreement is a significant step towards improving our understanding of the tourism sector and the mortgage market in Andorra. The data we collect will be essential for informing policy decisions and supporting economic development.”
Joan Alfons Pons, President of Andorran Banking, added: “We are pleased to collaborate with the Government of Andorra on this important initiative. Our expertise in data collection and analysis will help to ensure that the statistics we produce are accurate, timely, and relevant.”
The collaboration between the Government of Andorra and Andorran Banking is expected to produce tangible results within the next year. The improved statistics will be published regularly and made available to policymakers, researchers, and the general public.
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