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Figures from the Tax Agency in the Balearics indicate that there are more people with declared minimum incomes of 600,000 euros per year than ever before.

The latest information is for 2022, when 587 residents of the Balearics were in this income bracket. Compared with 2021, there was a 40% increase in the number of these residents. By comparison with 2020, there was an increase of 59%.

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The Balearics are second among Spain's regions when it comes to 'super-earners'. With ten for every 10,000 taxpayers, only Madrid with 18 per 10,000 has a higher number.

In the 150,000 to 600,000 euros range, there were 5,691 individuals - 32% more than in 2021.

By contrast, 28.8% of taxpayers had an annual income of less than 12,000 euros, almost six per cent fewer than in 2021.