The nautical sector is one of the fastest-growing employers in the Balearics, according to a study carried out by the Balearic ministry for employment, trade and industry.
The study focused on the period between 2011 and 2015 and one of the key findings was that, year-on-year, the number of people finding employment in the nautical sectors increased by ten per cent.
The report also highlights the fact that the Balearics nautical sector, especially when it comes to refits, repairs and maintenance, is considered one of the most professional locations in the Mediterranean and is an example to the industry as a whole.
The charter sector has also grown significantly over the past few years since the controversial matriculation tax was scrapped - hence the return of the largest private yachts in the world to Balearic waters and ports.
The Balearics is one of the most popular nautical tourism destinations in the Mediterranean, not to mention its success as a cruise line destination. And the nautical retail market has also revived after having been hit by the recession.
According to the ministry, the nautical industry employs at least 3,000 people and moves some 400 million euros per year. Moreover, the minister, Iago Negueruela, said last week that the number of employers in the nautical sector has increased by nearly ten per cent since 2014.
But while the nautical industry guarantees long-term employment, one of the main problems is the lack of trained and qualified local professionals. In order to solve this and to offer people an exciting future, some of the funds raised by the tourist tax are going to be invested in setting up a new nautical training centre so companies do not have to look overseas for qualified workers.
Last year a large number of companies had to take on more staff to meet growing demand and most of the new employees came from abroad.