Humphrey Carter10/09/2014 00:00
TW
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The recreational nautical industry has enjoyed a significant turn around in business this year with the Balearic sector  leading the revival.

Palma.—Between January and August of this year, the number of new vessels registered in the Balearics, according to data provided by  the National Association of Nautical Businesses yesterday, rose by 27.16 percent in comparison to last year with 515 new vessels registered. Last year the figure was 405.
However despite the growth in the market, industry chiefs said that the sector is remaining “stable” and showing signs of “gradual” growth.

Mat tax scrapped
Two of the reasons are apparently the scrapping of the controversial and discriminatory matriculation tax and  the fact that Spain is out of recession and certain sectors of society are feeling more buoyant and have recovered some of their consumer confidence.
As of the end of last month, the Balearics commanded a 14.65 percent share of the national market, making the region the one with the largest share of the Spanish nautical industry.