Record summer seasons, tourists allegedly spending more per day, upgraded hotels and the most expensive accommodation rates in the country - it all sounds rosy. But away from offices of statistics and government spokespeople and the like, talk to your local cabbie or go round the shops and it is a different story.

Yesterday it was confirmed that there has been an 11 per cent drop in the number of cruise ships visiting Palma this year. The small to medium-sized retail sector is complaining of a poor first six months of the year, with the majority of traders inside and out of Palma maintaining that sales are down on last year. They have their fingers crossed that the summer sales give their takings a lift.

Restaurant and bars in Palma have also seen a general slowdown in business, especially those in residential neighbourhoods which are used to regular customers from the local community.

Sources for the retail sector say that consumer confidence appears to have peaked in 2013 and has been slowly contracting ever since. But they cannot put the finger on why.

Perhaps the ongoing political uncertainty in Spain with a minority government in Madrid and the post-modern left-wing coalition in a bit of a muddle halfway through its legislature has knocked consumer confidence. I wish I knew. But while some are getting very rich, many are still struggling.