{"id":117124,"date":"2025-02-12T09:32:17","date_gmt":"2025-02-12T08:32:17","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/illes-balears-la-tercera-region-con-mayor-crecimiento-del-pib-real-en-la-ue-en-2023\/"},"modified":"2025-02-12T13:36:40","modified_gmt":"2025-02-12T12:36:40","slug":"illes-balears-la-tercera-region-con-mayor-crecimiento-del-pib-real-en-la-ue-en-2023","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/illes-balears-la-tercera-region-con-mayor-crecimiento-del-pib-real-en-la-ue-en-2023\/","title":{"rendered":"The Balearic Islands, the third region with the highest real GDP growth in the EU in 2023"},"content":{"rendered":"<p data-start=\"96\" data-end=\"388\">In <strong>2023<\/strong>, <strong data-start=\"105\" data-end=\"199\">the Balearic Islands<\/strong> was the <strong data-start=\"105\" data-end=\"199\">third region<\/strong> in the <strong data-start=\"105\" data-end=\"199\">European Union<\/strong> with the <strong data-start=\"105\" data-end=\"199\">highest real GDP growth<\/strong>, increasing by <strong data-start=\"220\" data-end=\"228\">5.7%<\/strong> compared to the previous year, according to Eurostat data. Only <strong>Malta<\/strong> (<strong data-start=\"292\" data-end=\"301\">+6.7%<\/strong>) and <strong>Severen Tsentralen<\/strong> in Bulgaria (<strong data-start=\"338\" data-end=\"347\">+5.8%<\/strong>) recorded higher growth.<\/p>\n<div id=\"attachment_117120\" style=\"width: 790px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" aria-describedby=\"caption-attachment-117120\" class=\"size-full wp-image-117120\" src=\"https:\/\/mallorcaglobalmag.es\/wp-content\/uploads\/2025\/02\/Turistas-en-terrazas-de-Alcudia.webp\" alt=\"\" width=\"780\" height=\"518\" \/><p id=\"caption-attachment-117120\" class=\"wp-caption-text\">Tourists at terraces in Alc\u00fadia. Photo: Jaume Capella &#8211; AETIB.<\/p><\/div>\n<p data-start=\"390\" data-end=\"921\">This growth <strong data-start=\"407\" data-end=\"462\">places the Balearic Islands well above the EU average<\/strong>, where real GDP increased by only <strong data-start=\"500\" data-end=\"508\">0.4%<\/strong> in 2023. Spain also saw significant growth in <strong data-start=\"545\" data-end=\"565\">the Canary Islands<\/strong> (<strong data-start=\"545\" data-end=\"565\">+5.1%<\/strong>), reinforcing the economic recovery of the country&#8217;s main tourist destinations. In total, real GDP <strong>grew in<\/strong> <strong data-start=\"687\" data-end=\"712\">154 EU regions<\/strong>, while <strong data-start=\"727\" data-end=\"753\">85 saw declines<\/strong>, with <strong data-start=\"759\" data-end=\"819\">Vorarlberg<\/strong> (Austria) recording the largest decrease (<strong data-start=\"759\" data-end=\"819\">-14.1%<\/strong>), followed by <strong data-start=\"832\" data-end=\"879\">Provence-Alpes-C\u00f4te d&#8217;Azur<\/strong> (France, <strong data-start=\"832\" data-end=\"879\">-12.9%<\/strong>) and <strong data-start=\"882\" data-end=\"918\">Groningen<\/strong> (Netherlands, <strong data-start=\"882\" data-end=\"918\">-11.1%<\/strong>).<\/p>\n<p data-start=\"390\" data-end=\"921\">Regarding <strong>Spain<\/strong>, following the Balearic Islands and the Canary Islands were La Rioja (4.2%), Castilla-La Mancha (3.3%), Castilla y Le\u00f3n (3%), Principality of Asturias (2.8%), Extremadura (2.7%), Cantabria and Arag\u00f3n (2.6%), Catalonia and the Community of Madrid (2.5%), Andalusia and the Basque Country (2.4%), the Valencian Community and Galicia (2.3%), the Chartered Community of Navarre (2.1%), the Region of Murcia (2%) and, lastly, the Autonomous Cities of Melilla (1.8%) and Ceuta (1.7%).<\/p>\n<h3 data-start=\"390\" data-end=\"921\">The 10 EU regions with the highest GDP growth in 2023:<\/h3>\n<ul>\n<li data-start=\"390\" data-end=\"921\">Malta 6.7%<\/li>\n<li data-start=\"390\" data-end=\"921\">Severen Tsentralen (Bulgaria) 5.8%<\/li>\n<li data-start=\"390\" data-end=\"921\"><strong>Balearic Islands 5.7%<\/strong><\/li>\n<li data-start=\"390\" data-end=\"921\">Canary Islands 5.1%<\/li>\n<li data-start=\"390\" data-end=\"921\">Hovedstaden (Denmark) 5%<\/li>\n<li data-start=\"390\" data-end=\"921\">Grad Zagreb (Croatia) 4.9%<\/li>\n<li data-start=\"390\" data-end=\"921\">Languedoc-Roussillon (France) 4.5%<\/li>\n<li data-start=\"390\" data-end=\"921\">Regi\u00e3o Aut\u00f3noma da Madeira (Portugal) 4.5%<\/li>\n<li data-start=\"390\" data-end=\"921\">Centre-Val de Loire (France) 4.4%<\/li>\n<li data-start=\"390\" data-end=\"921\">Sostin\u0117s regionas (Lithuania) 4.4%<\/li>\n<\/ul>\n<h3 data-start=\"390\" data-end=\"921\">The 10 EU regions with the largest GDP declines in 2023:<\/h3>\n<ul>\n<li>Vorarlberg (Austria) -14.1%<\/li>\n<li>Provence-Alpes-C\u00f4te d&#8217;Azur (France) -12.9%<\/li>\n<li>Groningen (Netherlands) -11.1%<\/li>\n<li>Southern Region (Ireland) -10.9%<\/li>\n<li>Norra Mellansverige (Sweden) -7.7%<\/li>\n<li>Rheinhessen-Pfalz (Germany) -7.3%<\/li>\n<li>Picardie (France) -6.4%<\/li>\n<li>Yugoiztochen (Bulgaria) -4.3%<\/li>\n<li>\u00c9szak-Magyarorsz\u00e1g (Hungary) -4.2%<\/li>\n<li>Corse (France) -4.1%<\/li>\n<\/ul>\n<h2 data-start=\"923\" data-end=\"993\"><strong data-start=\"927\" data-end=\"991\">GDP per capita in the Balearic Islands reaches the EU average<\/strong><\/h2>\n<p data-start=\"995\" data-end=\"1317\">In addition to notable real GDP growth, the Balearic Islands reached<strong data-start=\"1039\" data-end=\"1114\"> 100% of the EU average GDP per capita<\/strong> in 2023, consolidating a steady upward trend in recent years. In 2020, this indicator stood at 78%, rising to 84% in 2021, 95% in 2022, and finally 100% in 2023.\u00a0This progress reflects the <strong data-start=\"1344\" data-end=\"1455\">region\u2019s rapid economic recovery following the pandemic and the boost from the tourism sector<\/strong>, which is key to the Balearic economy.<\/p>\n<p data-start=\"1489\" data-end=\"1840\">In terms of GDP per capita, the most prosperous EU regions were <strong data-start=\"1563\" data-end=\"1673\">East and Midland in Ireland<\/strong> (244.7% of the EU average)<strong data-start=\"1563\" data-end=\"1673\">, Luxembourg<\/strong> (236.8%) and <strong>Southern Region<\/strong> (224.7%), also in Ireland. The high GDP per capita in these regions is explained by the presence of large multinational companies, tax advantages, and strong foreign investment attraction, particularly in sectors such as technology, finance, and pharmaceuticals.<\/p>\n<p data-start=\"1489\" data-end=\"1840\">At the other end of the scale, the EU regions with the lowest GDP per capita were <strong data-start=\"1740\" data-end=\"1837\">Mayotte<\/strong> (France, 27.6%)<strong data-start=\"1740\" data-end=\"1837\">, Yuzhen Tsentralen<\/strong> (Bulgaria, 41.3%) and <strong data-start=\"1740\" data-end=\"1837\">Voreio Aigaio<\/strong> (Greece, 42.3%).<\/p>\n<p data-start=\"1842\" data-end=\"2052\" data-is-last-node=\"\">With these figures, <strong data-start=\"1859\" data-end=\"2051\">the Balearic Islands establishes itself as one of Europe&#8217;s most dynamic regional economies<\/strong>.<\/p>\n<p data-start=\"1842\" data-end=\"2052\" data-is-last-node=\"\">More information available at <a href=\"https:\/\/ec.europa.eu\/eurostat\/web\/products-eurostat-news\/w\/ddn-20250211-2?etrans=es\" target=\"_blank\" rel=\"noopener\"><strong>this link<\/strong><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2023, the Balearic Islands was the third region in <a href=\"https:\/\/mallorcaglobalmag.es\/en\/illes-balears-la-tercera-region-con-mayor-crecimiento-del-pib-real-en-la-ue-en-2023\/\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":4,"featured_media":117121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1515],"tags":[],"class_list":["post-117124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-tourism"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - 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