President Armengol at the conference in Barcelona on Wednesday. | Europa Press

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At a Wednesday conference in Barcelona, President Armengol stated that she is "proud that the Balearic Islands are leaders in tourism", while adding that the government is aware that there must be diversification of the islands' economy.

"You cannot put all your eggs in the same basket, you have to diversify the economy," the president stressed, also emphasising that in order to continue being tourism leaders, certain things must change and future challenges must be faced. In this regard, she referred to new tourism regulations that will make the Balearics "the first circular tourist destination in the world". To this end, there are discussions with employers and unions, the president noting that she hopes that planned legislation will be improved by the parliamentary process.

The legislation, she explained, will oblige hoteliers to adopt circularity plans. Tourism, she argued, should not only be for the benefit of hoteliers and of tourists themselves. It must have a "positive impact on the islands and be a motor for the rights of workers and the ecological footprint".

The legislation will require hefty investment by hoteliers, for which the government will assist with European funds.