The economy

Many in Spain do not believe that the country has actually left recession. To some extent they may be right, with unemployment at record high levels despite good economic growth. The official figures paint a picture of a country which is slowly prospering but still has major economic problems. But there is one exception. The Balearics continues to outperform the rest of the country. House prices fell on the mainland but rose in the Balearics. Retail sales were slow on the mainland but increased sharply in the Balearics. Unemployment increases on the mainland; drops in the Balearics. The list goes on. It is evident that we are living in one of the most sought-after places in the country and you can tell. The economy is in a far better shape than many parts of the mainland. I have noticed a major pick-up in the Balearic economy over the last 12 months. You have to reserve a table at restaurants again even during the week; shop special offers disappear within hours rather than days. There is a so-called feelgood factor on the high street. With the prospect of a fantastic holiday season on the horizon, things can only get better as they say. One thing’s for sure is that the islands will continue to outshine the rest of the country for the simple reason that we live in a very special place. In the same way as these islands escaped the worst part of the Spanish recession we are now leading it out.