Palma.Construction in both the private and public sectors in the Balearic Islands continued to decline in the first quarter of this year but Tourism registered positive growth in March after a poor January and February period.
Figures were provided by the Balearic government yesterday as part of their monthly update on the regional economy. It showed that the number of homes in the Islands receiving a completion certificate at the end of February this year was 15.3 percent less than the same time in 2011.
Also, projects which were approved and licensed for March were 12 percent below the number carried out during the same month last year.
But the report revealed that whilst there had been a 41.1 percent year-on-year downturn in residential housing projects with the market continuing to slide because of lack of demand, the number related to tourist business projects during the first quarter of the year had in fact grown.
The Balearic government was at the same time quick to point out the optimistic upturn in business in March this year in Tourism.
Second highest
occupancy rate
The Balearic Islands, claimed the report, was the region of the country with the second highest hotel occupancy level (55.2%), beaten only by the Canary Islands (70.1%).
Whilst the year-on-year figures for the number of tourists arriving in the Islands in December 2011, January and February 2012 had declined, March registered a 12 percent increase.
People choosing to stay in hotels (as opposed to other forms of tourist accommodation) in the Balearics in March had grown by 4.5 percent within a year, but bookings for the country as a whole declined by 6 percent in the same month.
Accumulated figures for the first quarter of the year revealed that overnight stays at hotels had increased by 1.8 percent in comparison with Q1 in 2011
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