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Considering the Balearics is home to some of the largest personal fortunes inSpain, only 123 people made a tax declaration of over 600,000 euros this year.

According of official data provided by the tax office, across the entire country, only 5,612 people declared to having an annual income of over 600,000 euros, 2.2 percent of those here in the Balearics.

Other regions of Spain where wages are higher than the national average are Catalonia, Valencia, Andalusia and Galicia but topping the table in Madrid which accounted for nearly 50 percent of the top earners, according to their tax declaration that is.