Economist say german recession will last longer than expected

Next summer is going to be another poor one for German holiday bookings to the Balearics and the much publicised recovery over the past few weeks will struggle to materialise. In fact, according to the dean of Economic Science at the Balearic University, Eugenio Aguiló, the German holiday market is actually showing signs of getting worse. The dean said yesterday that as far as his predictions are concerned, German economic indications point to the situation “getting worse,” producing a double problem of recession and “people tightening their belts.” Having consulted various institutions which are monitoring the situation in Germany, “it looks highly likely that the German economy will not start to recover until the second trimester of next year, coinciding with a general recovery of the international economy. As a result, the dean considers the outlook for the German tourism industry next year, as “very bad with a decline of at least the same as this year.” What Aguila also made clear is that the problem is a German one, adding that the Balearic government and tourism authority has reacted well to the problems and has taken adequate steps to boost other markets. The Balearic Minister for Tourism, Celesti Alomar, yesterday said in Madrid that the Balearics is ready to meet the demands of a new tourism industry, based on “environmental preservation and more care about the services we provide.” The Minister was in Madrid to unveil the new “brands,” such as “Traditional Majorca, Hiking Majorca, Majorca Golf and Majorca cycle tourism.”


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