Slump in Balearic tourist spending

SPENDING by tourists who came to the Islands during the first nine months of this year totalled 7'502 million euros, a figure 2.7 percent higher than the same period in 2004. But according to a report on tourist spending produced by the central government ministry for Tourism and Commerce, growth registered in tourist spending this year in the Balearics is below the national average (4.4 percent), although the Islands fared better than other of Spain's regions such as Andalucia (0.2%) or the Canary Islands where spending fell half a percent down against the previous year's figures. The best results were achieved in Valencia where the increase ran as high as 8.9 percent over and above 2004, and in Catalonia where spending rose by 7.6 percent. The average spending per tourist in the Balearics for the first nine months of the year stood at 918 euros, 0.9 percent up, which contrasts with a drop of 2.2 percent across the regions of Spain and represents a quantity higher than the national average (847 euros). The average daily spend reached 91 euros in the Islands, 2 percent less than last year, the highest drop out of the main holiday destinations in Spain and in contrast to the 4.2 percent growth at a national level. Nevertheless, the average daily spend fell by 9.5 percent in the Balearics in the first nine months of the year, standing at 88 euros. This contrasts with an upturn of 7.4 percent for the country as a whole thanks to the excellent return on investment in Valencia (27.5%), Madrid (16.9%) and Catalonia (15%).