by Jason Moore

I have a theory which states that the economic picture in Majorca is not as bad as the official figures suggest. There is still plenty of money about on Majorca and my point was partly proved last Sunday. Obviously the Day of the Three Kings is a big event in Majorca but I telephoned three restaurants on the island to make a reservation for lunch and the answer was a simple; “dream on we are fully booked...!” I visited a further three restaurants and I was told in no uncertain terms that I would have to wait for at least two hours for a table. Now, as we know eating out in Majorca is not cheap but most Majorcan families decided to go to a restaurant rather than staying at home. Now, perhaps it was just a one-off but it shows that Majorca is not as recession hit as some believe. Now, we have 96'000 unemployed; I would say that a third are seasonally unemployed. In other words they have worked all summer and spend the winter claiming benefit. It must be remembered that Majorca also has a very buoyant “undercover” economy, in other words cash in hand in some cases rules. Now, I am not trying to suggest that times are not hard in Majorca but reports that the island is close to bankruptcy are well off the mark. The fact that Majorcans can still afford to got out and have a big family meal (which is a relatively new phenomenon, because usually it was lunch at home) shows that there is still money in their bank accounts and they are not afraid to spend it.

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