Jason MoorePalma08/04/2020 09:07
TW
2

The cold winds of recession are blowing through the Balearics and the Balearic government is coming under increasing pressure from employers to ease the ban on non-essential workers.

The local economy has shed 300 million euros in just three weeks and the tourist industry is at a standstill. But I would advise the local authorities against taking any knee-jerk reaction to ease the lockdown. It must remain in place until medical staff agree that it is safe to go out. But there is mounting pressure. The economic impact of the coronavirus on the local economy will be enormous and there is a danger that the local economy will slip into recession this year. These are dangerous and unique times and public safety needs to be put above the needs of the local economy.

There does appear to be an end in sight and I suspect that in the coming days and weeks the lockdown will be eased. Local businesses need to be prepared and ready but I do believe that we must face the facts and the realise that the holiday season this year is almost lost.

Britain, one of the key tourist markets for the Balearics, is in lockdown until at least the end of May. There are claims that British tour firms will not start selling holidays again until at least the middle of June. So the islands face a battle on two fronts; to show courage and stay at home and save lives and then when the lockdown is ended come out fighting and try and get the local economy moving again.