The Rise and rise of Mallorca

Being an island, apart from the obviously, locally sourced produce, everything consumed here is imported, which sadly contributes to the flaky excuse of rising costs, although doesn’t everywhere these days import within reason? I’m almost certain that somewhere along the line, some retail entrepreneurs are taking the proverbial and raking in the profits, while happily shafting the consumer. But that still means that as an island, we take a harder hit than most!

The rising cost of ‘post pandemic’ holidays, including air fares and hotels also makes me wonder if Mallorca is slowly becoming a victim of its own popularity. So many companies seem to be striving to make up for previously lost revenue. Airlines and tour operators, along with hoteliers, and private renters have recognised the continued demand from the tourist hoards, therefore ‘load’ accordingly, and why would they even think of supporting a tourist ban or dropping prices when they can easily and effectively increase them? I’m not saying it’s right, yet through a business eyes it makes complete sense. And no-one takes prisoners when there’s easy cash on the table!

It wasn’t that long ago when you could easily find a three-course ‘menu del dia’, almost anywhere across the island, for the same price as a designer beer supped in one of Palma’s select, yet outrageously priced bars. I have definitely noticed a substantial increase everywhere, particularly in the cost of the ‘big weekly shop’, even though we seem to be buying less than ever.

Only recently, this current ‘rise in everything’, unexpectedly and sadly impacted the life of a very dear friend of mine, when their five -year rental contract came to an end, and his rent was literally doubled overnight by this unscrupulous trend of making as much money as possible, regardless of any consequence or moral values. The backlash of this greedy, ‘jumping on the bandwagon’ culture is pushing the cost of living here in Mallorca to crisis point, and causing unimaginable stress and grief into the bargain! A sizeable portion of the local population in Mallorca only earn around €1,300 per month, so many locals don’t have a hope of getting a foot on the property ladder, or with such inflated prices, find themselves a decent, permanent home with an affordable long-term rental. A massive percentage of homes and apartments across the island sadly still remain empty for a greater part of the year, set aside for ‘holiday rentals only’, yet I suppose, if you’re on the other side of this rental game, with a property or two up your sleeve, then you’re absolutely laughing. It’s all fair game they say! Or is it? The general attitude these days seems to be, if you want something, then you ‘re just going to have to pay top rates for it, regardless! Greed is the name of the game. And to quote from Aesop’s Fables – “Much wants more”, so I suppose nothing will change!