ECONOMIC BLUES

THE Balearic goverment is popping open the champagne bottles because the economy is expected to grow by half a percent next year and the number of people without a job will not pass the 100'000 mark. Sorry, I do not share their joy; 10 percent of the local population without a job is scandalous and the fact that the economy is hardly growing is not another fact that fills me with joy. But next year is election time and obviously the Balearic government has to be upbeat.

A report out recently said that the local economy would not return to full growth until 2014. In otherwords almost two more years of recession. Until Britain and Germany fully recover from recession I can´t see the first shoots of recovery actually appearing. The local economy is heavily dependent on tourism and as we all know all is not well with our principle industry. The reason why unemployment is so high is because the construction and tourist industries aren´t creating enough jobs. The Balearic government should make an all out effort to try and revive the tourist industry. Money needs to be spent on promotion. The Balearics are losing their position as one of the top holiday spots in the world. Once the islands regain this position then the local economy will recover.