IF you looked around Majorca at the moment the restaurants are full, the shops are packed and people are spending. At the weekend at many popular restaurants if you don´t book you could find yourself sitting down for Sunday lunch at 4p.m. or not getting a table at all. The supermarkets are exceptionally busy and even the shopping High Streets are packed with buyers. You would have thought that the island had returned to the “good old days” before the property bubble burst. But we haven´t. If you read the official figures you would get the impression that times are very hard on the island with a high level of long term unemployment, many households living on the poverty line and many families suffering serious financial problems. So why is the official picture so different than the one you see on the High Street or in shops and restaurants? Well obviously times are hard but it also must be remembered that many people are doing very nicely thank you, on the island. It has been a good summer season and plenty of money has been earnt which is now being spent. Also, Majorca has a thriving “black economy” with plenty of cash in hand and don´t tell the taxman. It is claimed that some people who claim unemployment benefit are working “on the black” as well. So overall there is a mixed economic picture on Majorca. The official figures do tell a story which in many cases is a reality but in others it is complete fantasy!
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