The Exceltur tourism association claims that the first quarter of 2023 has closed in the Balearic Islands with an increase in revenue of 24.3% over the same period in 2019

Likewise, tourism entrepreneurs on the islands forecast an increase in sales of 11.1% in the second quarter of this year. Exceltur is a non-profit association made up of the presidents of 23 of the most important Spanish tourism companies – among them the leaders – in the air and maritime transport, hotel, travel agency, tour operator, payment methods, etc. sub-sectors.

According to the association, the result of Easter is excellent, as well as the fact that tourists do not give up travelling and this activity continues to be one of their consumer preferences. The reasons for this increase in sales are the recovery in the volume of customers and the sector’s ability to raise prices by 7.7% year-on-year, according to the latest data from the Consumer Price Index (CPI) of the National Statistics Institute (INE). It also highlights the increase in product quality. According to Exceltur, the trend marks a bipolarisation of consumption, with higher quality services growing, on the one hand, and those with lower prices, on the other.

It also points out that 91% of employment in the sector is currently stable and permanent. According to Exceltur, the Spanish tourism sector “since the labour reform is correcting its temporary employment rates in a notable way”. They highlight the 110,000 increase in the number of workers in March.

As far as forecasts are concerned, tourism entrepreneurs speaks of general optimism and raises its growth forecasts for 2023 by two points, to 9.4%, with a tourism Gross Domestic Product (GDP) of 172,000 million euros.