Tourism spending in the Balearic Islands continues to rise, consolidating its role as a key driver of the economy. By November, total spending had reached €22,084.7 million, representing a 12.3% year-on-year increase, according to the Economic Momentum of the Illes Balears report published by the Directorate General of Economy and Statistics.

Tourists visiting Palma Cathedral

Tourists visiting Palma Cathedral. Photo: Teresa Ayuga.

Average spending per tourist has also increased, reaching €1,198 per person (+7%), while daily expenditure has risen to €188, a 7.7% increase compared to the same period last year.

Additionally, tourist arrivals in November increased by 18.5% compared to the previous year, with 117.6 million overnight stays, representing a rise of 4.3%. The number of air passengers arriving on the islands also grew by 5.6%.

Other economic indicators in Balears

GDP and Consumption

  • Balearic consumption continues to drive GDP growth.
  • Foreign investment fell by 54% up to the third quarter.

Construction

  • Increase in residential building.
  • Free-market housing: +12.3% started and +4.2% completed in the third quarter.

Industry

  • Industrial production fell by 2.6% (in line with the national decline of -3.4%).
  • Only consumer goods showed positive growth in November.

Labour Market

  • Record-breaking employment figures in December with 475,387 registered workers (+3.4%).
  • The service sector, accounting for 80% of registered workers, led growth with a 3.8% increase.

Prices and Inflation

  • December CPI: +3.4% in Balears, above the national average (+2.8%).
  • Only the Basque Country recorded a higher rate (+3.6%).
  • Core inflation in Balears: +3.2% (compared to 2.6% in Spain).

Balears continues to experience strong tourism growth and record-breaking employment levels, although it faces challenges in foreign investment and inflation.