Magalluf - now a "mature resort"; and how it once was. | @Terraferida

President Armengol announced on Friday that the Balearics will next week receive the first tranche of European funds for tourism. Being forwarded from the Spanish government, the initial amount will be 47.7 million euros for what the president described as "a hundred diverse actions on the four islands".

Speaking at the press conference for the presentation of the Balearic plan for tourism sustainability in destinations, Armengol explained that the funds will be for three main aspects - improvements of mature resorts; tourism products to extend the season; and direct aid for tourism companies to promote circularity.

For mature resorts, the first load of funding will be for Playa de Palma, Magalluf and Sant Antoni de Portmany. New tourism products to extend the season include the Museum of the Sea and Fishing in Ibiza, a regatta channel in Alcudia, and the Green Port project in Mahon. For sustainability, actions will involve the creation of the Mallorca Sustainable Tourism Observatory as well as the aid to companies.

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EU Next Generation funds for tourism will amount to 230 million euros, the remainder to be transferred to the Balearic government over the next three years.