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Since the early 1950's Mallorca's economy has gone through many changes with the tourist trade leading the way, however as a place for business there are still area's to be explored.

Tourism by its nature also stimulates other areas of the economy bringing people and businesses wishing to invest or buy homes and property.

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As a consequence real estate, legal and accountancy firms as well as the construction and ancillary industries based on the island are all consistently active.

There is also a fair amount of activity around the purchase and sale of established businesses such as restaurants, bars, hotels and shop's.

Although Palma is the largest commercial area on the island there are many small towns and villages around Mallorca, the majority of which gain their income from the tourist trade.

The tourism business has become the main source of revenue for the island. In 2001, the island received millions of tourists and day by day, the boom in the tourism industry provided significant growth in the economy of Majorca. With more than half of the population working in the tourist sector, a vast amount, approximately 80%, is contributed to Majorca's GDP.

• GDP: US$1.1 trillion (Spain) (2006).
• Main imports: Machinery and equipment, fuels, chemicals, semi-finished goods and food.
• Main exports: Machinery, motor vehicles, food, pharmaceuticals and medicines.
• Main trade partners: France, Germany, Italy, UK and Portugal.

 

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