The Balearic population is one of the fastest growing in Spain, according to the National Statistics Institute. By the year 2005, the Balearic population is forecast to reach 850.086. The figure will represent a growth of 8.4 per cent in the five years from 2000 - when the census set the population at 783.577. The only population growing faster than the Balearics is the Canary Islands, where the rate of growth is expected to be as high as nearly 15 per cent over the next few years. The rate of population growth in the Balearics is nearly four times the national average of 2.08 per cent and by the year 2005, the population of Spain will have reached 40.559.776. Contrary to the Balearic population boom, four autonomous regions of Spain: Aragón, Asturias, Castilla y León and the Basque Country are seeing their populations shrink. The previous Partido Popular government in the Balearics had been aiming to hit the one million mark by the year 2010. However, since then, the local economy has started to slow down and the employment market, which was in desperate need of new manpower has subsequently shrunk. The current Balearic government would, however, prefer to see the rate of population growth start to slow.

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