Palma22/08/2019 08:01
The Balearic economy is slowing down and growth is below the national average, according to the latest figures. The local economy will grow about two percent this year. But to be honest, Majorca - economically speaking - should be doing much better and questions should be asked as to why the economy is not booming despite the drop in tourism being forecast for this year.
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Other possible reasons for the decline - the traditional "Spanish " shops, bars and restaurants are disappearing fast. There are many streets lines with shops selling the same old tat. Bars and restaurants are disappearing due to the all inclusive hotels and the whole place full of unrepaired pavements, which are full of animal excrement and human litter. The island needs a good clean up.
Another reason - far too many people do not pay their income tax here. Money lost to tax avoidance schemes, tax evasion and residents paying tax in their home countries should be investigated with vigour.
the economy of mallorca will suffer more the tourist tax .the exchange rate for british tourists .the prices on the island are way too high people can get far better deals elswhere with plenty of sunshine and that what most tourists want the answer in mallorca always seems trade down put up the prices
What type of business were you in Jason?
The perception, by people on Mallorca that the place is 'unique' is not only wrong, but is also at the heart of the problem. For most of Mallorca's potential customers they don't care all that much where they go, as long as they get sunshine and warm seas. If they can get that for half the price, then a lot of them will take it, and a great many of them have this year. As the world seems to be heading for a recession, people will be looking for value for money even more in the coming years, and Mallorca isn't unique enough for many of them to pay the extra premium to come here.
Despite ALL the warnings to those that control Mallorca, Tourism is down this year. Tourist Tax, Brexit, Pound/Euro falling, Other destinations available, etc. It is going to be a bleak mid Winter for everyone on the Island. For the last 30 years, I have advocated more investment and attractions in Winter. Nothing has been done. I feel eventually those in control are in for a major shock here, but it will be too late to rectify the reticence that has been in abundance on Mallorca.
Holiday Rentals gone ! All inclusive hotels! Tourists tax ! Just to start with it ruined my 18 year business !