Tourism is the main driver of the Balearic economy. | Enrique Calvo
The CAEB Confederation of Balearic Business Associations has published an "economic evolution" report, which indicates that gross added value contracted by 4.5% in the first quarter. Describing this fall as "unprecedented", a contrast is made with the final quarter of 2019, when it was +1.5%. The uncertainty prior to the state of alarm and the subsequent restrictions on mobility were the contributory factors.