Builders seek new markets to weather construction ban

The Balearic construction sector is studying the possibility of exporting its products and services to the domestic and international markets, to counteract the negative effects of the moratoria on building introduced by the Council of Majorca and the Balearic government and the changes in the economy. Yesterday, the Chamber of Commerce of Majorca, Ibiza and Formentera called a meeting of representatives of the construction sector and affiliated industries. It was the first step towards drawing up a plan to break into other markets, to help the sector cope with the consequences of a drop in demand. At the end of the meeting, Chamber president Miguel Lladó explained that construction will maintain its rhythm for the next year at least, but after that the future was uncertain, because of the moratoria and future investment in public works. The sector will now design a strategy to open new markets such as Morocco, Mexico, Cuba, Croatia or mainland Spain. Many Majorcan hoteliers have already invested in the first three countries.