Tourism big contributor to Balearic economy

PALMA
TOURISM represents 48 percent of the Balearic Gross Domestic Product (GDP) according to the first study on the economic impact of tourism in the Balearics, Impactur 2006.

The study also says that tourism has a special impact on the job market, as in 2006 it was responsible for 31 percent of the employment on the islands, with a total of 154'248 employees.

The study, carried out by Exceltur and sponsored by the Balearic Government, was presented by the President of Exceltur, Jose Maria Rossell, and his Executive Vice President, Jose Luis Zoreda.

Also present were the Balearic Ministers Lluis Ramis de Ayreflor and Joan Flaquer.
Flaquer highlighted from the study the fact that tourism is the sector which contributes most to the Balearic economy.
Zoreda was the person charged with explaining the details of the study, highlighting that during 2006 tourist activities constituted 83 percent of the services income on the islands, with 9'933 million euros spent by tourists, both Spanish and foreign, on goods and services.

At the same time, this sector contributed 20.9 percent to the total investment in the islands, with 1'219 million euros gross capital.
And tourism represented 47 percent of the total taxes collected in the Balearics, 2'651 million euros. “Tourism brings a lot to the region and the public coffers, so any measure adopted for this sector should be adopted with good sense and wide agreement within the sector”, said Flaquer.

The Vice President of Exceltur, Sebastia Escarrer, said he considered that the expenditure on the Balearics during the last few years had been “extremely positive, especially in everything relating to infrastructures, whose development has been essential for tourism. “And to this must be added that now is the opportune moment to put forward new technology and information to society. The Balearics should seek other sustainable sectors”.

Flaquer said that he is convinced that “Balearic society is aware of what tourism means to the islands”.
Zoreda added that the impact of tourism on the Balearic economy has an inferred effect, “as demonstrated by the fact that for every 100 direct jobs created there are 43 indirect jobs created and, for every 100 euros generated by tourism, another 69 are generated in the rest of the economic subsectors. The impact is clear”.

The fact that tourism represents 48 percent of the Balearic GDP “is something which can vary so it is necessary to continue working towards consolidating tourism”.