Staff Reporter

PALMA
IN 2006 the Balearics was once again the Spanish autonomous region with the greatest number of companies in proportion to its population, with a ratio of 88.2 companies for every 1'000 inhabitants.

It is also the region in which the private sector contributes most to the wealth of the region, according to figures from the Balearic Ministry for Economy, Tax and Innovation, the National Institute of Statistics (INE), and the Balearic Confederation of Business Associations (CAEB).

The region which follows the Balearics for most companies in proportion to population is Catalonia, with a proportion of 82.62 companies for every 1'000 residents, while the Spanish national average is 72.03.

The Department of the Economy confirmed that the Balearics “had consolidated” its economic recovery of 2004, and along with this had recovered business confidence, which has translated into an increase in levels of investment and the number of jobs.

The Balearics also takes the lead for the number of private companies per head of population which contribute most to the wealth of the region, with 68.5 percent, ahead of countries like the U.S.A. (68 percent), Japan (64.1 percent) and the United Kingdom (60 percent), according to figures from the CAEB.

The Balearic Government and the Chamber of Commerce have increased their forecasts for the growth of the economy this year because of the excellent progression of the tourist and construction industries, and the level of employment.

The Balearic Government has, in fact, increased its forecast for the growth of the Balearic Gross Domestic Product (GDP) this year to 3.2 percent, and the Chamber of Commerce have increased theirs to 3.1 percent, from 2.9 percent in both cases.

The Balearics leads as the region with the greatest number of companies per inhabitant in Spain due to its economic structure, its dynamism and confidence in the economy.

The business structure in the Balearics is made up mostly of small and medium sized businesses, which play and essential part in the generation of wealth, greater than that in other regions in the country.

IMPORTANCE
The Balearic Ministry of Economy, Tax and Innovation highlighted the importance of self employed people for the Balearic economy.
During the month of May there were 80'229 self employed people on the islands, of which 52'667 were working in the services sector.
With regard to the creation of new companies, during the month of March, the last month for which there are figures, 466 companies were created, according to figures from the INE.

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