Around 671,000 tourists arrived on the islands in the first three months of the year. Tourist spending in the Balearics continues to rise with 758 million euros in this period

During the first quarter of the year, the Balearic Islands received almost 671,000 tourists who spent 758 million euros. This figure represents an increase of more than 23% in both cases.

In terms of where they come from, Germany is the main market sending tourists to the islands, with slightly more than half of them. This is followed by the United Kingdom. In terms of average expenditure per tourist, this amounted to 154 euros for trips lasting an average of 7.8 days. This figure is below the national average of 168 euros.

From the Government of the Balearic Islands, the Councillor for Economic Model, Iago Negueruela, values these data positively. He stresses the commitment to the quality of the Balearic Islands as a tourist destination. According to Negueruela, since 2019, spending per tourist has increased by 20%. Which is why he considers it unnecessary to increase the number of hotel beds.

The ECB raises interest rates to 3.75%.

Continuing in economic terms, the European Central Bank has decided to raise interest rates by 25 basis points, which now stand at 3.75% in the euro zone. This slows down the pace of the increases that have been made until now because, according to the institution, the previous increases are already beginning to have an effect on the real economy.

Christine Lagarde, president of the European Central Bank, predicts further increases and says that there is still some way to go before inflation returns to 2%.