Nautical

Balearic nautical sector worth 400 million euros

President Armengol addressing the Nautical Congress yesterday. | Govern balear

Majorca Daily Bulletin reporterPalma09/03/2018 00:00

Between them, the Balearics and Catalonia account for 40% of the revenue generated by Spain's recreational nautical sector. They also have over a third of all the businesses and 33% of the employment. In the Balearics specifically, there 658 businesses which employ just under 3,000 people and turn over 407 million euros per annum.

These figures were given at the Nautical Congress being held at Palma's Palacio de Congresos. Alfonso Novales, professor of economics at the Madrid Complutense University, presented the study. He explained that the recreational nautical sector in Spain as a whole leads to the direct employment of more than 19,000 people and a further 63,000 people indirectly.

Palma has 184 nautical businesses, more than any other city in the country. The general secretary of the national association for nautical businesses, Carlos Sanlorenzo, observed that the Balearics is the nautical capital of Spain - "the real motor for these businesses".

The study shows that the sector, which slumped during the period of economic crisis, has fully recovered. As for the future, growth will be linked to a capacity to develop and accommodate new services.

The Balearic minister for employment, trade and industry, Iago Negueruela, highlighted the importance of the sector and announced that the next Palma Boat Show (27 April to 1 May) will be the largest ever. President Armengol, making the closing speech yesterday, emphasised the joint efforts being made by the government and the Balearic association for nautical businesses on vocational training. This is to "provide solutions for the growing demand for professional talent and to improve the competitiveness of the economy".