“The island has become a safe destination, which explains the spectacular evolution it has had this year,” says Jesús Cuartero from Essentially Mallorca. “5-star Hotel occupation has exceeded 90% throughout the season with turnover equivalent to 2019.
The forecast for autumn and winter also looks promising in the Luxury Tourism Sector, which has coped with the fallout from the pandemic much better than other sectors.
Luxury tourism in the Balearic Islands generates around 1 billion euros in sales, which is 15% of the national total and that figure will be much higher in 2021, with demand soaring at 5-star hotels, boutique hotels, high-end restaurants, fashion stores, nautical companies, taxis, VTC and car hire.
“The luxury trade is in fashion; the main branded shops attract wealthy tourists from all over the world and Palma is one of the main destinations in Europe to buy exclusive, high-end products,” says Cuartero. “Luxury tourists also want Driver Transport Vehicles or VTCs with multi-lingual drivers who are willing to work flexible hours and private excursions or tours of Mallorca are also a big hit with wealthy travellers.”
They spend around 5,000 euros a day in Mallorca and most of them are German or British, but there's also more moneyed Americans coming to the Island.
46% of luxury tourists spend 10 days on vacation, 30% take more than two weeks holiday, 21% take 7 day breaks and 3% go away for less than a week.
The number of private jets landing in Mallorca has doubled and the parking platform in the General Aviation area is completely full in mid-October.
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