Spaniards swap whisky and brandy for cerveza. Morgan Stanleyread more: http://qz.com/34764
This year hasn’t been going very well for the Spanish. With a quarter of the population out of work, it’s hard for them to afford costly, memory-killing substances like whisky and brandy. The solution? Drink more beer!
That’s “clearly” what has happened, according to Morgan Stanley research analysts led by David Belaunde. Although beer remains expensive in Spain compared to the US and Germany, even the most cash-strapped consumers have been able to afford the beverage by skipping the bar and drinking ale at home.